Construction ministry wants low-interest loans for social housing

It has called on the State Bank of Vietnam to instruct banks to lend the money at 2% interest from now through 2023.

The money is needed for three social housing projects in HCMC and four in Quy Nhon City and renovate four crumbling apartment complexes in HCMC.

The works involve a total of 7,904 housing units.

There are 301 social housing complexes with 156,000 units in the country and another 401 are under construction.

Earlier this month, Minister of Construction Nguyen Thanh Nghi said the target is to have one million social housing units by 2030.

His ministry would work with the central bank and local authorities to draw up the list of projects eligible for low-interest loans, he added.