Society

Loan extension to aid cold-spell victims

The Vietnam Bank for Social Policies (VBSP) has announced it will provide loan term extensions for households suffering from the recent cold spell.
Loan extension to aid cold-spell victims ảnh 1A field is covered by snow. (Photo: VNA)

Hanoi (VNA) – The Vietnam Bank for Social Policies (VBSP) has announced it will provide loan term extensions for households suffering from the recent cold spell.

The extension of up to three years will be applied to families with damage reported at between 40 and 80 percent, and up to five years to households with damage reported above 80 percent.

During the extended terms, these debtors will not be required to pay interest.

The provision of additional loans will also be considered based on local demand.

By January 28, more than 5,000 people, who have borrowed a total amount of 127.3 billion VND (5.7 million USD) from the VBSP, had taken the brunt of the dreadful weather.

Their damage was calculated at 4,662 dead cattle and about 1,540 hectares of destroyed farming areas.-Loan extension to aid cold-spell victims

Hanoi, January 28 (VNA) – The Vietnam Bank for Social Policies (VBSP) has announced it will provide loan term extensions for households suffering from the recent cold spell.

The extension of up to three years will be applied to families with damage reported at between 40 and 80 percent, and up to five years to households with damage reported above 80 percent.

During the extended terms, these debtors will not be required to pay interest.

The provision of additional loans will also be considered based on local demand.

By January 28, more than 5,000 people, who have borrowed a total amount of 127.3 billion VND (5.7 million USD) from the VBSP, had taken the brunt of the dreadful weather.

Their damage was calculated at 4,662 dead cattle and about 1,540 hectares of destroyed farming areas.-VNA

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#loan term extensions #cold spell #debtors #VBSP
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