HCM City subsidizes lending rate for 26 projects

The city government in a decision said that those projects will be supported half or all of the lending rate in the maximum of seven years and the maximum loan for a project under this support scheme is VND100 billion (USD 6.25mil). The total capital for this subsidy program is VND5 trillion.

Introduced since March 8, the city has approved a total of 26 projects via two phases. The second phase approved on July 18 is comprised of 10 projects, of which, six projects are subsidized 50% of the lending rate and four are subsidized all the interest sums.

Among those ten projects are two on healthcare and one on education. All projects in the second phase are expected to start work this year for completion in 2010.

Earlier, the city government has approved to subsidize lending rate for 16 projects having total investment capital of VND1 trillion. The city will likely approve subsidy for ten more projects in August with total investment capital of VND778.4 billion.