State Bank declares full responsibility for 30,000 billion VND package

Recently, at the March Government meeting, Minister of Construction Trinh Dinh Dung reported to the Prime Minister about the 30,000 billion VND credit package.

The 30,000 billion package has signed 99% credit contracts up to this point. Illustrative photo

According to the head of the Ministry of Construction, in response to people's demand for a 30,000 billion VND social housing support package, the Ministry has sent a document to the State Bank and the Government requesting to extend this support package until it is completed.

"Currently, 85% of the amount of this package has been committed to implementation, so the remaining amount is expected to be disbursed in the last 6 months of the year" - Mr. Trinh Dinh Dung said.

At the request of the Prime Minister, Governor of the State Bank of Vietnam Nguyen Van Binh reported further on this credit package. Accordingly, up to this point, credit contracts have been signed for an amount of VND 29,600 billion, and only about VND 400 billion remains. The amount has also been disbursed VND 21,000 billion.

“Thus, the number of signed credit contracts reached 99% and disbursement reached 70%. According to the Decision of the previous Resolution, this program will end from June 1 this year. This package is the recapitalization money of the Central Bank for commercial banks and ends from June 1. The responsibility of the State Bank has ended, because the commitment to spend 30,000 billion VND has basically been completed” – Governor Nguyen Van Binh said.

Considering that this package has been basically processed and the remaining amount is small, the Governor said that on March 22, the State Bank submitted to the Government a proposal to extend this program until all disbursements are completed.

(Performed by: Thuc Anh)

"I hope the Government will officially include the content in the Resolution of this session, so that people can feel secure and have less questions" - Mr. Binh suggested.

Confirming further about the housing support package after the end of the 30,000 billion VND package, Governor Nguyen Van Binh said that the relevant ministries and branches need to meet to discuss and come up with a specific plan. Accordingly, they will report to the Government on the social housing credit program for the poor at the Social Policy Bank, giving interest rates and methods of capital mobilization.

"I think the form of that program is consistent with the prescribed content and based on practice to upgrade it to a national program and ensure long-term stability," said the Governor.

Also related to this issue, Prime Minister Nguyen Tan Dung said that the credit incentives under the Social Housing Law are correct. Accordingly, the Law and Decree are already in place, so we need to discuss how to implement them appropriately, based on the discussion, to have a specific program to deploy the credit.

However, the Prime Minister stated: "The State supports preferential loans, but where the budget comes from to support them, we need further opinions?"./.

According to VOV