BIDV to Spend VND35Tln for Social Housing Construction
The State-run Bank for Investment and Development of Vietnam (BIDV), the second biggest state-owned bank by assets, on January 12 announced a VND35-trillion investment package of building social houses for the period 2009-2010.
Of the sum, VND15 trillion will be used to build social housing, VND20 trillion for construction of low income earners and housing socialization.
The Hanoi-based bank is also seeking for the government's permission to set up Investment and Consumption Demand Stimulus Fund under which BIDV will contribute VND16 trillion and Export Promotion Package in which BIDV pledges VND15-trillion contribution.
On the same day, BIDV committed to provide a VND5.65 trillion credit to Hoang Anh Gia Lai Group between the period 2009 and 2011 under the comprehensive cooperation agreement signed in HCM City. (Young People)
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