Housing Support for the Poor in 2011-2015
The Prime Minister recently issued Decision No. 33/2015/QD-TTg on housing support policies for poor households from 2011 to 2015 (in furtherance of the Decision No. 167/2008/QD-TTg on the second-phase housing loan support programme.
The programme will support housing for 311,000 poor households in rural areas throughout the country (according to reports by localities). The poor may borrow loans to build safe houses in order to stabilise their livelihoods, improve their living standards and contribute to reducing poverty.
To be eligible for a housing loan, a household must be identified as poor according to the poverty criteria provided in Prime Minister’s Decision No. 09/2011/QD-TTg dated January 30, 2011 on poverty lines, and live as an independent household in at least 10 years.
Each poor household can get a loan of up to VND25 million from the Vietnam Bank for Social Policies to build or repair their houses. The annual interest rate is 3 percent, and the loan maturity period is 15 years, including a five-year grace period. The time limit for loan repayment will be 10 years. For every year from the sixth year on, the borrowers will have to repay at least 10 percent of total principal loans.
The decision will take effect from October 1, 2015.
Thu Ha
Vietnamese
