The Vietnam International Bank (VIBBank) and Lam Dong Province's administration have jointly launched a scheme to provide loans with preferential interest rates to local small and medium sized manufacturing businesses.
|Transactions at a VIBBank branch (Photo: Tuoi Tre)|
The Lam Dong Province People’s Committee will work with the bank and amalgamate various funds into one account, including the Business Sector Program Support - launched by Denmark's government to support development of small and medium sized businesses, agricultural and industrial expansion, credit guarantee and human resource training.
The bank will manage the funds and allocate appropriate loans to local small and medium sized companies that need money for production development.
The bank will offer preferential interest rates for businesses based on the efficiency of their operations.