VIETNAM PRESS-Vietnam may extend property loan tenure to 15 years - Lao Dong

Thu Aug 7, 2014 10:28pm EDT

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The Vietnamese government may extend by five years the 10-year loans taken from a 30-trillion-dong ($1.42 billion) property stimulus package, according to a proposal by the construction ministry, the Lao Dong (Labour) newspaper reported.

As much as 1.11 trillion dong under the package had been disbursed as of June 30, or 3.7 percent of the total value, the report said. The credit was launched in June 2013, and its interest rate was cut to 5 percent in April 2014 from 6 percent.

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NOTE: Reuters has not verified this story and does not vouch for its accuracy. ($1=21,180 dong) (Hanoi Newsroom; Editing by Subhranshu Sahu)

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