The State Bank of Vietnam published an update on Governor Nguyễn Thị Hồng’s directions at the groundbreaking of the Kira Home social housing project in Vĩnh Phúc province, calling on banks to step up implementation of the social housing credit programme and to proactively appraise eligible projects for lending in line with regulations. The social housing credit programme referenced in the remarks was launched at VND 120 trillion and is currently sized at VND 145 trillion, funded entirely from commercial banks’ mobilised deposits and delivered under prevailing lending rules. Four state-owned commercial banks are described as the core lenders (Agribank, BIDV, Vietcombank and VietinBank). The State Bank of Vietnam reported that 37 of 63 localities have submitted lists of eligible projects for the programme, covering 97 social housing projects. Kira Home forms part of the 62-hectare Legend City urban area project, with total investment of VND 6.269 trillion and estimated credit demand of around VND 5 trillion; development is planned in two phases comprising 10 apartment buildings. Lending is expected to proceed once the Vĩnh Phúc People’s Committee publishes the list of social housing projects eligible for the credit programme, with banks instructed to promptly contact and assess the project sponsor for financing.
State Bank of Vietnam 2025-04-19
State Bank of Vietnam pushes banks to fast-track VND 145 trillion social housing lending for Vinh Phuc’s Kira Home project
The State Bank of Vietnam updated on Governor Nguyễn Thị Hồng’s directives at the Kira Home social housing project groundbreaking, urging banks to enhance the social housing credit programme's implementation. The programme, now at VND 145 trillion, is funded by commercial banks and involves four state-owned banks as core lenders. Lending will commence once the Vĩnh Phúc People’s Committee releases the list of eligible projects.