The move came after only 1.6% of a VND30 trillion (US$1.41 billion) loan package was disbursed at the end of 2013.
The package was announced in May 2013 with a view to offering loans at an annual interest rate of 6% for homebuyers and property developers to help revive the sluggish property market.
The funds were made available to borrowers through five lenders – Agribank, BIDV, Vietinbank, Vietcombank and MHB.
Last November, the Ministry of Construction issued a circular that relaxed eligibility for this programme in order to expedite disbursement.
