Policy credit helps poor households eliminate temporary and dilapidated houses

Implementing Decision No. 07/2025/QĐ-UBND dated January 16, 2025, of the People's Committee of Binh Dinh Province on providing housing loan support for poor and near-poor households in the province until the end of 2025, VBSP Binh Dinh Provincial Branch has promptly disbursed loan funds to help eligible poor and near-poor households build new houses or repair existing ones to ensure stable livelihoods.

Thanks to policy loan funding, Mr. Ta Van Son (left) has been able to build a new spacious house

Mr. Son’s family (The Thanh 2, An Thanh Commune, Hoai An District) is classified as a poor household. Both he and his wife lack stable employment, forcing them to live for many years in a run-down temporary house with old walls and a makeshift roof, covering less than 30m².

In February 2025, after being evaluated by the The Thanh 2 Savings and Credit Group, Mr. Son received a loan of VND 40 million from VBSP Hoai An District with a repayment period of 15 years. With additional support from relatives, his family was able to build a new house of over 50m², with a total construction cost of VND 130 million.

Mr. Son happily shared: “Thanks to the preferential loan, my family had the confidence to build a new house and gradually stabilize our lives. With an interest rate of just 3% per year, I do not have to repay the principal for the first five years, which reduces our financial burden and allows us to focus on economic development and escaping poverty".

Mr. Nguyen Do - Secretary of the Party Committee of An Thanh Commune stated that, there are still 17 households in An Thanh living in dilapidated houses. In response, the Commune Party Committee and People's Committee have directed mass organizations as well as Savings and Credit Groups, to review and publicly evaluate eligible households for loans under Decision No. 07/2025/QĐ-UBND. As a result, 15 households were approved for loans, and VBSP Hoai An District disbursed a total of VND 600 million for home construction and repairs. The implementation of this policy not only enables households to build stable homes but also helps eliminate substandard housing in the locality.

Similarly, Canh Thuan Commune (in Van Canh District) has effectively implemented Decision No. 07/2025/QĐ-UBND. As of March 12, 25 poor and near-poor households have received loans totaling VND 1 billion from VBSP Van Canh District for new home construction and repairs.

Previously, Ms. Dinh Thi Nho (a Bana ethnic minority born in 1976 and residing in Ha Van Tren Village, Canh Thuan Commune) had to live in a cramped temporary house. Her daily life was extremely difficult. After being assessed in February 2025, she qualified for a loan of VND 40 million from VBSP Van Canh district to build a new house.

Ms. Nho joyfully said: "Thanks to policy credit, my family now has the opportunity to build a solid house. Having a home gives us peace of mind to focus on production, improve our livelihoods and ensure our children receive a proper education. We are deeply grateful to the Party and the Government for their support and encouragement".

Under Decision No. 07/2025/QĐ-UBND, as of March 12, VBSP An Lao District has disbursed loans to 128 poor and near-poor households, totaling VND 5.12 billion for home construction and repairs. VBSP Hoai An District has disbursed VND 5.72 billion to 143 households, while VBSP Van Canh District has disbursed VND 3.52 billion to 88 households. In March and April 2025, VBSP Van Canh District plans to disburse an additional VND 8.5 billion to 213 households, aiming to eliminate temporary and dilapidated housing in Van Canh.

As of now, the total outstanding loans under the housing support program for poor and near-poor households have reached VND 22.62 billion, benefiting 566 households. In the coming time, the branch will direct local VBSP transaction offices to actively collaborate with local authorities, mass organizations and Savings and Credit Groups to improve data collection, review eligible households and ensure timely disbursement of funds. This will help more households construct or renovate their homes, contributing to the overall improvement of living conditions in the province.

Duy Dang