Prime Minister Nguyen Tan Dung has signed a decision on regulations on the guarantee for small- and medium-sized enterprises (SMEs) to get loans at commercial banks.
Under the Decision No. 03/2011/QD-TTg, the Vietnam Development Bank (VDB) will act as a guarantee for SMEs to take middle- and long-term loans in VND to implement their projects in such fields as agro-forestry-fishery, processing industry, manufacturing, gas production of gas, water supply, waste treatment and management, construction, transport and storage.
Guaranteed businesses must have effective investment projects, prove their solvency and have no bad debts at any credit organisation at the time when they suggest to be guaranteed.
The VDB may guarantee a part of or the whole loan for SMEs at commercial banks (with maximum accounting for 85 percent of the total investment of the project) on the basis of its appraisal of businesses’ projects and financial capacity.
The decision will come into effect on February 25, 2011./.
Under the Decision No. 03/2011/QD-TTg, the Vietnam Development Bank (VDB) will act as a guarantee for SMEs to take middle- and long-term loans in VND to implement their projects in such fields as agro-forestry-fishery, processing industry, manufacturing, gas production of gas, water supply, waste treatment and management, construction, transport and storage.
Guaranteed businesses must have effective investment projects, prove their solvency and have no bad debts at any credit organisation at the time when they suggest to be guaranteed.
The VDB may guarantee a part of or the whole loan for SMEs at commercial banks (with maximum accounting for 85 percent of the total investment of the project) on the basis of its appraisal of businesses’ projects and financial capacity.
The decision will come into effect on February 25, 2011./.
