BIDV has announced a credit package worth 5 trillion VND (215 million USD) for its individual customers hurt by the coronavirus outbreak. (Photo: cafef.vn) Hanoi (VNA) – The Joint Stock Commercial Bank for Investment andDevelopment of Vietnam (BIDV) has announced a credit package worth 5 trillionVND (215 million USD) for its individual customers hurt by the acuterespiratory disease caused by a novel coronavirus (COVID-19).
The capital is prioritised for customers operating in the fields ofagriculture, export and tourism.
Customers are able to take BIDV loans for production and trading ofagricultural products such as dragon fruit, watermelon, jack fruit and bananaas well as several aquatic products like tra, basa and cat fish.
The package also includes support for operators of restaurants and hotels, whileaiding those with trade activities with China.
Under the package, customers will enjoy a stable annual interest rate of 5.5percent in a maximum four months since the first disbursement.
The epidemic could cause losses of 5.9-7.7billion USD for the domestic tourism sector in the next three months, accordingto the Vietnam National Administration of Tourism (VNAT).
Thetourism sector has estimated a 90 percent decrease in the number of Chinesevisitors due to the disease, and a 50-70 percent drop in holidaymakers fromother countries. The number of domestic holidaymakers is also likely to suffera fall of 50-70 percent.
Besides, the countrycould lose up to 600 million USD of exports to China in the first quarterof 2020, the Ministry of Industry and Trade has warned.
In a forecast in thefirst regular cabinet meeting of the year, the ministry said it expected that exports to China in the first quarter could dropby 5-8 per cent compared to the same period last year. Such an estimate wouldinvolve the ongoing epidemic being put under control in less than three monthssince it began in late January./.
VNA
