Deputy Prime Minister Tran Hong Ha has asked relevant ministries, agencies, and localities to take measures to accelerate the implementation of a social housing credit program worth VND120 trillion ($5 billion).

The Ministry of Construction (MoC) was instructed to report on lists of projects eligible for the program to commercial banks to review and grant credit in line with regulations.

The MoC will coordinate with other relevant ministries to review and propose authorized agencies amend related regulations to remove legal obstacles for investment in and the construction of social housing projects.

By the end of the third quarter of 2023, there were 52 social housing projects in 20 localities qualified for the program, with total credit demand of over VND25.8 trillion ($1.07 billion).

Some projects in Hanoi and northern Phu Tho and Bac Ninh provinces have disbursed capital from the program.