Storm-proof Housing Program Benefits 11,253 Needy Families

A Government program on assisting poor households in central region build flood and storm-proof houses has reached 11,253 needy families as of the end of the second quarter this year, said the housing and real estate market department under the Ministry of Construction. The beneficiaries account for 41% of the total number of households targeted by the program, which was launched under the Government’s Decision 48/2014 issued on August 28, 2014. Under the decision, the housing support program is carried out in 14 central provinces from Thanh Hoa southward to Binh Thuan from 2014 to 2016, aiming to help 27,196 needy households. Each of the eligible households will receive a cash grant of VND12 million-VND16 million depending on localities, and a VND15-million preferential loan with a 3% annual interest rate for a duration of 10 years and a five-year grace period. The program will receive VND568 billion from the central budget, of which VND364.3 billion will be channeled directly to the beneficiaries while VND204 billion will be provided via the Social Policy Bank to grant preferential loans. As of the end of June this year, the central budget already allocated VND233 billion to the program, with VND147 billion disbursed. The Social Policy Bank received VND204 billion and disbursed VND88.1 billion. The central budget will have to allocate VND203 billion more in order to complete the program this year. (vietnamplus.vn July 11)