Disbursement of property bailout package makes slow progress

Wednesday, Feb 19, 2014 16:38

A man passes by a local residential block. The Government's VND30 trillion property bailout programme, aimed to assist homebuyers, still shows slow disbursement progress. — Photo petrotimes.vn
HA NOI (Biz Hub) ― Banks disbursed less than 4 per cent of the VND30 trillion or US$1.43 billion property bailout package, launched by the Government nearly a year ago.

This was reported by the State Bank of Viet Nam on Tuesday.

As of January 31, banks had committed to finance customers with about VND2.32 trillion or $110.48 million and had disbursed nearly VND1.07 trillion or $50.95 million, an increase of 32.7 per cent over last December.

Vietinbank, Vietcombank, BIDV, Agribank and Mekong Housing Bank pledged a combined total of nearly VND802 billion or $38.19 million to individuals and households and lent them about VND534 billion or $25.43 million in total.

Vietinbank, Agribank and BIDV funded businesses with over VND1.5 trillion or $71.43 million and lent about VND535 billion or $25.48 million.

The banks said the disbursement amounts were increasing despite slow progress, as many loan files were under consideration. ― VNS

Comments (0)