Disbursement of preferential loans in HCMC increases by 120 percent

The State Bank of Vietnam-Ho Chi Minh City Branch informed that by the end of November this year, city-based credit institutions have disbursed nearly VND447.4 trillion of loans for 27,277 enterprises and households under the Bank-Business Connection Program, an increase of 120 percent compared to the credit package that 11 credit institutions registered in the program at the beginning of this year.

These credits have preferential interest rates at no higher than 4.5 percent per annum for short-term loans in VND and 9 percent per annum for medium and long-term ones.

It is expected that from now until the end of the year, the program will continue to be implemented in localities in the direction of not only providing new loans but also restructuring loans without changing debt groups and reducing interest rates on old loans for customers affected by the Covid-19 pandemic following Circular No.14/2021 of the State Bank of Vietnam.