Enterprises, family businesses in district 1 eligible for low-interest loans

Three commercial banks including Sacombank, Vietcombank and Asia Commercial Bank were committed to provide loan of VND7,527 billion (about $322.9 million) with a maximum short-term interest rate of 6.5 percent a year, medium and long-term interest rate of 9 percent a year.

At a ceremony was yesterday held by the district 1 People’s Committee in coordination with the State Bank of Vietnam’s branch in Ho Chi Minh City, the Department of Industry and Trade to provide low-interest loans to 29 firms and small family businesses in district 1 .
As per the People Committee, the district has cooperated with the organizers of Bank – Enterprise Connection Program to help approximately 1,300 firms, small family businesses and traders access to funds since 2012.
From the beginning of 2018, in addition to capital support, the Program also prioritized the field of agriculture and companies applying modern technology, firms converting from small family businesses and startups, said Mr. Tran Dinh Cuong, Deputy Director of State Bank of Vietnam’s HCMC branch.
Meanwhile, nearly 200 enterprises in above-mentioned fields in districts have also had access to a total loan of more than VND 4,400 billion (about $188.7 million) thanks to the support from other districts.

By NHUNG NGUYEN - Translated by UYEN PHUONG

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