Banks required to intensify market stabilization loaning program

SGGP
The Governor of the State Bank of Vietnam (SBV) has sent a document asking credit institutions and SBV branches to intensify the market stabilization loaning program.

(Illustrative photo)

(Illustrative photo)

According to the requirement, SBV branches in provinces and cities should be proactive to grasp information and consult provincial and municipal people’s committees on measures to implement the program efficiently.
They should coordinate with local agencies to choose necessary commodities produced domestically with good quality, food safety and reasonable prices to attend the program and encourage businesses to join hands.
Credit institutions have been asked to provide the program with loans at suitable interest rates and combine it with Bank-Business Connectivity Program, broaden the list of borrowers covering distributors, traders of subsidized goods, businesses from priority fields, those attending regional connectivity models, value chains, hi-tech applied agriculture and clean farm produce production.

By HAM YEN – Translated by Hai Mien

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