Preferential loans for 15 HCM City firms hinh anh 1Workers at a garment factory (Photo: VNA)

HCM City (VNA) – Fifteen companies situated in HCM City's processing zones and industrial parks have got total bank loans of nearly 1.2 trillion VND (54 million USD) at preferential interest rates under a programme initiated by the central bank and the Government.

The State Bank of Vietnam's HCM City branch in collaboration with the Department of Industry and Trade and the HCM City Export Processing and Industrial Zone Authority (Hepza) organised a ceremony to sign credit contracts between companies and banks at Hepza on July 5.

Around 5.5 trillion VND (246.6 million USD) has been lent to 562 enterprises under the programme this year, Nguyen Hoang Minh, Deputy Director of the SBV's HCM City branch, said.

The banking – enterprises linkage programme was instituted four years ago to ease the funding and interest difficulties faced by companies based in the city, he said.

As of May 31 this year around 93.17 trillion VND (4.17 billion USD) has been disbursed, with a maximum interest rate of 7 percent for short-term loans and around 9 percent for medium- and long-term loans, he said.

Through the rest of this year the SBV would continue to cooperate with the department and Hepza to promote the programme to enable more businesses to get loans, he said.

He said this year 16 banks have pledged to earmark 211.548 billion VND (9.48 billion USD) and 15 million USD to provide preferential loans to small and medium-sized enterprises and firms in supporting industries, agriculture, and the city's price stabilisation programme.-VNA