Under the agreement, BIDV will be the main lender for HUD’s business activity during 2013-2015, which includes VND3 trillion (US$144 million) allocated for social housing programmes.
HUD Chairman Nghiem Van Bang said that the corporation plans to complete 10,000 budget apartments through 2015, making a significant contribution to realising the National Housing Strategy until 2020 with a view to 2030.
According to the terms of the agreement, HUD will commit to using a range of banking services provided by BIDV.
BIDV, one of the largest commercial lenders in Vietnam, has said it will offer a total of VND30 trillion (US$1.44 billion) with preferential rates over the next three years to support social housing programmes nationwide.
Developers will get 35% while home buyers receive the remaining 65% of the VND30 trillion loan package.
