Commercial banks are considering granting loans to businesses that take part in Ho Chi Minh City’s price stabilisation programme, according to the city’s Department of Industry and Trade.

Five banks, Agribank, Eximbank, Sacombank, the BIDV and Vietinbank, are the first commercial banks to participate in the programme, which runs form April 1 to March 31 next year.

In previous years, the businesses taking part in the programme received interest free loans from the city.
In the next 10 days, Agribank plans to disburse 151.87 billion VND (7.25 million USD) in short and medium term loans to three enterprises.

Sacombank is currently appraising loan applications from a number of companies. They have applied for total loans of 258.6 billion VND (12.3 million USD).

Similarly, Eximbank and Vietinbank are reviewing loan applications.

The city will subsidise the participating companies’ investments in technology and expansion of breeding farms.

It will also provide the companies with free advertising and subsidies to improve distribution networks.-VNA