104 businesses get extra of $1.47 billion low interest loans in HCMC

Twenty one branches of Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) signed credit contracts to loan 104 businesses VND32.872 trillion (US$1.47 billion) at the low interest rate of 6-8 percent a year this morning in HCMC.

A view of the conference on the Bank-Business Connectivity Program in HCMC this morning October 10 (Photo: SGGP)

The event took place at conference on the Bank-Business Connectivity Program which has been implemented in the city since 2012 to solve difficulties for businesses.

The city’s program has been extended nationwide and the Government has taken it into the national target scheme on business development assistance by 2020.

For the last four years, the Bank-Business Connectivity Program has been implemented in 24 districts of HCMC and helped solve capital and interest difficulties for enterprises, contributing to production and trading development and economic growth.

VND160 trillion ($717.44 million) has been disbursed under the program since early this year.  The disbursement is expected to reach VND250 trillion ($11.21 billion) by the end of this year. Interest rate is from 7-8 percent a year.

By Hanh Nhung – Translated by Hai Mien

Other news