Banks provide low interest rate loans to firms

Commercials banks have just agreed to provide loans at low interest rate to enterprises and farmers.

Sai Gon Thuong Tin Commercial Joint Stock Bank, the Bank of Agriculture and Rural Development, the Vietnam Joint Stock Commercial Bank for Industry and Trade, the Bank for Investment and Development of Vietnam, the Asia Commercial Bank and Mekong Housing Bank signed a credit contract providing loans at interest rate of 7 percent per year to firms and farmers in Ho Chi Minh City’s Cu Chi District.

The banks promised to lend VND428 billion (US$20 million) to firms and farmers in the district.
They also promised to provide VND 574 billion to enterprises in District 11 last week.

According to the contracts, the banks also provide loans for consumption to stimulate the economy.

The banks will provide more loans to enterprises in the whole city to the end of June. The loans meet the capital needs of all enterprises and help them stabilize business.

By Han Ni - Translated by Uyen Phuong

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