Thousands of VND billion from loans with preferential interest rates by the program to connect banks with businesses and the market stabilizing program has given more power to production and trade of businesses.
Thousands of VND billion from loans with preferential interest rates by the program to connect banks with businesses and the market stabilizing program has given more power to production and trade of businesses.
Under the program to connect banks with businesses and the program to stabilize market, by September 30, preferential credit balance to businesses in the province has hit VND7,440 billion, including VND2,710 billion in short-tern loans (36.42%), and VND4,731 billion in medium and long term loans (63.58%). Preferential loans in the first nine of 2018 hit VND5,105 billion.
For example, the loan of VND10.2 billion for Seven Farm Co., Ltd. is lending for high-technology application and clean farming. VND5.2 billion of the sum (with 6%/year in interest rate) is for breeders, and VND5 billion (with 10%/year in interest rate) is for building pig raising farm with VietGap standard. Vietnam Sugar Joint Stock Company has been granted credit limit of VND100 billion with interest rate of 6%/year to produce sugar according to clean farming standards. In lending for start-up businesses, BIDV reserves VND4,000 to support them.
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Besides, so far this year, credit institutions have continued carrying out measures to solve difficulties for businesses under the direction of the State Bank, such as lowering lending interest rates, remitting interest, and supplying new interests. The credit institutions have lowered lending interest rate to 11%/year for 2,232 borrowers with total credit balance of VND3,004 billion.
According to Nguyen Hoai Chieu, director of the State Bank – Khanh Hoa Branch, the branch has directed bank branches to join the program to connect banks and businesses, market stabilzing program, etc. Banks also have diversified credit products, and worked directly with borrowers to solve difficulties and facilitate businesses, production households as well as cooperatives to access credit rightly…Owning to the program to connect banks and businesses, more and more businesses have accessed the policy to solve difficulties by the State Bank and the Government.
Nam Du
Translated by T.T
