Transactions at Eximbank (Photo: VNA) Hanoi (VNA) – The banking sector is building acredit support programme with a value of 285 trillion VND (over 12.2 billionUSD) for firms hit by the epidemic of the acute respiratory disease caused bythe SARS-CoV-2 (COVID-19), in an attempt to help ease their difficulties, accordingto an official of the State Bank of Vietnam.
In a recent interview granted to the Vietnam News Agency,head of the central bank’s department on credit to economic sectors Nguyen QuocHung said most of the commercial banks have registered to join the programme.
The official further said the interest rates will depend onthe concrete situation of the customers, from 0.5-1 percent lower than those onthe market.
Credit organisations are not short of capital, but thequestion is how the firms can absorb the support, Hung stressed, adding that thecapital for the programme comes totally from the banks, not the state budget.
He however also warned of the possibility of bad debts as aresult of the customers’ failure to pay due debts because of the epidemic.
At a recent conference on measures to support those firmsand people affected by the COVID-19, a representative of the State Bank said inthe initial stage, credit organisations had supported over 44,000 customerswith loans totaling 222 trillion VND through various measures likerestructuring their payment dates, reducing interests on their current or newloans, and exempting fees./.
In a recent interview granted to the Vietnam News Agency,head of the central bank’s department on credit to economic sectors Nguyen QuocHung said most of the commercial banks have registered to join the programme.
The official further said the interest rates will depend onthe concrete situation of the customers, from 0.5-1 percent lower than those onthe market.
Credit organisations are not short of capital, but thequestion is how the firms can absorb the support, Hung stressed, adding that thecapital for the programme comes totally from the banks, not the state budget.
He however also warned of the possibility of bad debts as aresult of the customers’ failure to pay due debts because of the epidemic.
At a recent conference on measures to support those firmsand people affected by the COVID-19, a representative of the State Bank said inthe initial stage, credit organisations had supported over 44,000 customerswith loans totaling 222 trillion VND through various measures likerestructuring their payment dates, reducing interests on their current or newloans, and exempting fees./.
VNA
