Aimed at poverty reduction in Tibet, a housing project which have benefitted over 22,000 Tibetan farmers and nomad families has been completed, Xinhua reported.

The housing project, launched in 2011, is aimed at helping the poverty-stricken people with the total investment of 550 million yuan (about 90.2 million US dollars), according to Chonyi Yarphel, leader of the Poverty Relief Office of Tibet Autonomous Region.

From a low income family of southern Tibet's Lhoka Prefecture, Thutop and his family used to live under poor sanitary conditions in the past as their home also housed livestocks, but now they have moved into new houses.

According to Chonyi Yarphel, the poverty relief housing project increased the per capita living space of local farmers and nomads and improved their living conditions.

Under the project, each poverty-stricken household received government subsidies ranging from 12,000 yuan to 15,000 yuan for building new houses (about 2,000 to 2,500 US dollars), and each farmer or nomad family was provided with a subsidy of 5,000 yuan (about 800 US dollars).

In addition, a subsidized loan with an interest rate of 1.08 percent was also provided for poor people whose income is below the poverty line of 2,300 yuan (375 U.S. dollars), which is the lowest loan interest rate in China.

With a subsidized loan of 60,000 yuan (near 10,000 US dollars) in 2012, Samdrup and his family built a two-story building and moved to new house. "I have paid half my loan with my carpentry, and good life is just around the corner," said him.

Based on China's current poverty line, Tibet had 830,000 impoverished people at the end of 2010. Those living in poverty made up 34.4 percent of the total population in the region's farming and pastoral area with the highest poverty rate in China.

In 2014, the region aims to help 130,000 people out of poverty with an investment of 1.7 billion yuan from the central and regional governments, according to Xinhua.