Over US$92 mln spent for stabilization loan program

The State Bank of Vietnam’s Ho Chi Minh City Branch has just sent an official letter to direct general directors of commercial banks and credit institutions in the city to strictly implement the interest rate regulations, perform public price listing of purchasing foreign currencies and effective credit growth to stabilize the price of essential goods and stuff.
Accordingly, the State Bank of Vietnam’s HCMC Branch required the commercial banks to consider a reduction of the lending interest rate for enterprises participating in the market stabilization program of Ho Chi Minh City to minimize the financial cost of production – business and reschedule of due day for loans affected by Covid-19 pandemic. 

Ho Chi Minh City is the leading locality in the country on implementing the market stabilization program.

The stabilization program takes place from April this year to the end of March next year connected with the campaign “Vietnamese people give priority to use Vietnamese goods” to promote production, create goods supply, ensure quality and stablize price in the market.

According to the statistics from the beginning of the year, the total loan for the market stabilization program at commercial banks in the city has reached over VND2,105 billion (US$92 million) with the accumulated loan of VND5,862 billion (US$256 million) for 35 enterprises joining in the program.

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