The move comes after the SBV called on banks on August 7 to support businesses in accessing capital. Four state-owned commercial banks have committed a combined VND220 trillion (US$8.5 billion) to the program.
The credit packages focus on supporting small and medium-sized enterprises, as well as businesses and individuals engaged in production and business activities in priority sectors and key growth drivers.
These include agriculture, supporting industries, high technology, exports, the digital economy, artificial intelligence, the semiconductor industry, processing and manufacturing, and green projects.
Preferential Vietnamese-dong lending rates under the program will be at least 1 percentage point per year lower than each participating bank’s average lending rate for loans of the same maturity at the applicable time.
