Zero percent loan rate provided for enterprises to pay wages for workers

SGGP
Deputy Director of Ho Chi Minh City Bank for Social Policies Bui Van Son, on July 13, informed that the Vietnam Bank for Social Policies has started receiving applications for enterprises, who want to borrow money to pay wages for work stoppage and production restoration, according to the support package of VND26 trillion of the Government.
Zero percent loan rate provided for enterprises to pay wages for workers ảnh 1
Accordingly, enterprises are entitled to borrow money to pay wages for work stoppage when in these enterprises, there are contract employees participating in compulsory social insurance until the month preceding the time when the employees stop working or have to stop working for 15 consecutive days or more from May 1, 2021, to the end of March 31, 2022. Enterprises must not have bad debts at the time of loan application.

For enterprises that have to temporarily suspend operations at the request of competent state agencies to prevent and control the Covid-19 pandemic from May 1, 2021, to the end of March 31, 2022, enterprises operating in the field of transportation, aviation, tourism, accommodation services, and service of sending Vietnamese workers to work abroad under contracts, they are entitled to borrow money to pay salaries to employees when they resume production and business activities. The loan interest rate is zero percent with loan term below 12 months.

By Manh Hoa – Translated by Thuy Doan

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