A "support system" to help people settle down.

To enable low-income individuals to acquire their dream homes, stabilize their lives, and ensure social security, policy-based credit with many preferential terms has played a crucial "support" role in promptly meeting people's capital needs to buy, rent-to-own social housing, or build new, renovate, or repair their homes.

The house of Mr. Nguyen Van Quyet in Binh Lieu town, Binh Lieu district (in the middle) was built with borrowed capital.

In implementing Government Decree 100/2015/ND-CP (now Decree 100/2024/ND-CP) on the development and management of social housing, the Social Policy Bank (SPB) Quang Ninh branch has directed local SPB branches to actively coordinate with savings and loan groups, socio- political organizations, and the government to disseminate information; review, identify, and verify eligible beneficiaries; create favorable conditions for beneficiaries to access capital; and promptly resolve difficulties and obstacles. At the same time, it has advised the province and the central government on the timely allocation of capital, thereby quickly disbursing funds to support people in building new houses, renovating, and repairing existing ones.

Ms. Nguyen Thi Huong (Hiep Thanh area, Phuong Nam ward, Uong Bi city) said: "Thanks to the loan from the Social Policy Bank, my family has better conditions to develop production, send our children to school, and our family life is gradually stabilizing. For many years, I have been a member of the Savings and Loan Group, so I regularly receive information about social policy credit programs from the Farmers' Association and the head of the Savings and Loan Group. Thanks to that, I accessed the policy credit program for loans to buy, rent-to-own social housing or to build new, renovate, or repair houses. Once again, the policy credit capital was like a lifeline, helping my family determined to build a house. With the 400 million VND loan, accounting for about 60% of the estimated value, with a loan term of nearly 17 years, my family has built a 2-story house with an area of ^134m2 . My family is extremely happy and can work, produce, and develop the economy with peace of mind."

Social housing project in the Bank Hill residential area (Ha Long City).

In addition, the social housing project in the Doi Ngan Hang residential area, located in Hong Hai and Cao Thang wards, boasts modern and integrated infrastructure, with a construction scale of over 25,900 ^m². Currently open for sale, 70% of the construction is complete, with the goal of handing over houses to residents in the first quarter of 2025. To help residents alleviate financial burdens, acquire their dream homes, and stabilize their lives, the Social Policy Bank branch in Quang Ninh actively cooperates and guides the completion of loan applications and disburses loans promptly. To ensure the funds are used for their intended purpose, facilitate the process, and simplify procedures, the loan amount is transferred to the investor in installments according to the project's progress. The maximum loan term is 25 years from the date of the first disbursement. The maximum loan amount is up to 80% of the apartment value. The interest rate is the same as the poverty alleviation loan program, at 6.6% per year. To date, the Social Policy Bank branch in Quang Ninh has disbursed loans to 69 households to purchase social housing, with a total approved amount of over 13.3 billion VND.

Ms. Ly Thi Hien (an office worker at the Quang Ninh Provincial Young Entrepreneurs Association) said: "I am a low-income earner, I don't own a house, and I have to rent. When the social housing project in the Ngan Hang Hill residential area was implemented, I was able to buy an apartment with an area of ^70m² for over 1.1 billion VND. Not only was I able to buy a house, but the Social Policy Bank branch in Quang Ninh also facilitated a loan of 500 million VND to help with the purchase. This is a significant amount for low-income earners, easing the financial burden and stabilizing our lives."

Ms. Vu Thi Ngoc Bich, Director of the Social Policy Bank branch in Quang Ninh, said: "The program for lending to low-income individuals to buy, rent-to-own social housing, or to build, renovate, or repair houses under Decree 100/2015/ND-CP is an important social welfare program. Therefore, the bank always prioritizes capital to disburse loans promptly to meet the needs of low-income individuals, helping them to settle down, find employment, stabilize their lives, contribute to attracting labor, improve the quality of human resources, and develop the local economy and society."

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