
According to Ms. Ngo Thi Minh, Deputy Minister of the Ministry of Education and Training, education suffered many impacts and damages in the past two years of the Covid-19 pandemic. Of which, non-public preschool and primary schools took the strongest hit. To remove the difficulties for these educational institutions, the National Assembly issued Resolution No.43/2022/QH15 on fiscal and monetary policies to support the program of socio-economic recovery and development, including a preferential credit package of VND1.4 trillion (US$61.16 million) for non-public preschool and primary educational institutions that must halt operations for at least one month upon the requirements of Covid-19 prevention and control to resume teaching activities after the Covid-19 pandemic.
Decision No.11/2022/QD-TTg of the Prime Minister was issued timely, helping educational institutions restore operations and adapt to the situation of the Covid-19 pandemic in the current period - when kindergartens have reopened nationwide, contributing to ensuring the quality of preschool education. According to this decision, more than 3,200 preschools and primary schools and more than 12,300 independent preschools benefit from the policy with a loan term of 36 months. The interest rate of 3.3 percent per annum or 0.27 percent per month is the highest preferential interest rate for organizations borrowing money at the Vietnam Bank for Social Policies (VBSP).
Ms. Ngo Thi Minh said that the VND1.4-trillion support package would be lent to non-public preschool and primary educational institutions. The maximum loan is VND80 million ($3,499.93) for people-founded and private independent preschool educational institutions and VND200 million ($8,749.83) for people-funded and private preschools and primary schools.
