The State Bank of Vietnam issued implementation guidance for the social housing, workers’ housing, and old apartment renovation and reconstruction lending programme under Government Resolution 33, directed to nine participating commercial banks. The key measure allows these banks to exclude outstanding loans to eligible programme borrowers, up to the amounts they registered with the State Bank of Vietnam, from their annual credit growth targets notified by the central bank. The exclusion applies to the portion of programme lending the banks have registered with the State Bank of Vietnam, currently totaling VND 145 trillion across the nine banks, and will be available for a maximum period through 2030. Disbursements under the policy may not exceed each bank’s registered programme amount; banks that do not wish to apply the exclusion must notify the State Bank of Vietnam in writing by 15 January 2025. Participating banks must continue monthly reporting under the State Bank of Vietnam’s earlier reporting instructions and are required to adhere to programme commitments on preferential interest rates, appropriate loan tenors and purposes, timely disbursement for eligible projects, and facilitation of access to credit for social housing buyers.
State Bank of Vietnam 2025-01-03
State Bank of Vietnam excludes VND 145 trillion of registered social housing programme lending from participating banks’ annual credit growth targets through 2030
The State Bank of Vietnam has issued guidance for a lending programme under Government Resolution 33, allowing nine commercial banks to exclude loans to eligible borrowers from their annual credit growth targets. This exclusion applies to registered programme lending, totaling VND 145 trillion, and is available through 2030. Participating banks must adhere to programme commitments, including preferential interest rates and timely disbursements.