SBV continues low interest loans to help businesses overcome difficulties

The State Bank of Vietnam (SBV) in Ho Chi Minh City will provide businesses from all fields and economic sectors VND173 billion (US$7.7 million) of low interest loans to assist them to overcome difficulties this year, following successes of the city’s Bank-Enterprise Connectivity Program.

Deputy Minister of Industry and Trade Tran Anh Tuan at the conference (Photo: SGGP)

Reporting at a conference  hosted yesterday morning, a representative of SBV HCMC said that after four years of implementation the program has loaned 9,325 customers with a total fund of VND241 trillion (US$10.73 billion).

Last year, 19 commercial banks attended the program with disbursement hitting VND173,188 billion (US$7.71 billion), up 2.89 percent over the city’s assigned norm.

SBV Deputy Governor Nguyen Phuoc Thanh appreciated results obtained by the branch in HCMC and pledged to continue supplying businesses with VND10 trillion (US$445 million) preferential loans to solve difficulties, improve financial ability and competitiveness and recover production and trading.

In the next five year phase of the program, he prompted the branch to sponsor enterprises towards support industry and hi-tech agriculture development, investment stimulation and market stabilization.

The conference was attended by deputy Minister of Industry and Trade Tran Anh Tuan, former chairman of the HCMC People’s Committee Le Hoang Quan and former deputy Nguyen Thi Hong.

By Thanh Son – Translated by Hai Mien

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