In order to effectively disburse a low-interest housing credit package of 120 trillion VND (5.11 billion USD), many experts recommended expanding the list of borrowers.
Prime Minister Pham Minh Chinh held a working session with the State Bank of Vietnam (SBV), the Ministry of Finance and the Ministry of Justice on April 22 to review and step up the issuance of two important circulars related to the finance-banking sector.
Developers of social housing projects buyers of this kind of houses are entitled to benefit from a credit package worth 120 trillion VND (5.1 billion USD) which was started by the State Bank of Vietnam (SBV) earlier this month.
Affordable home buyers can access preferential loans at rates 1.5-2 percentage points lower than the market average as part of a credit package worth around 120 trillion VND (5.02 billion USD).
Loans of pandemic-hit enterprises will enjoy an interest rate cut of 2 per cent under a government support package to remove difficulties for the businesses.
Vietnam needs an estimated 220 trillion VND (9.6 billion USD) to build about 294,600 units of social housing for low-income earners in urban areas and industrial parks in the 2021-2025 period, according to the Ministry of Construction.
The Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank) has unveiled an online preferential credit package of 5 trillion VND (220 million USD) with an interest rate of only 4.99 percent.
The Ministry of Finance has proposed to the Government a credit package to support poor pupils and students in buying computers and equipment serving their online learning amid the COVID-19 pandemic.
HDBank has increased its working capital by 71 million USD through a syndicated loan from a consortium of eight leading Taiwanese banks and an Indian bank arranged by Mega International Commercial Bank.
Saigon - Hanoi Commercial Joint Stock Bank (SHB) has just become the only Vietnamese representative to be honoured as “Bank of the Year 2020” by The Banker magazine.
The Vietnam Aviation Business Association (VABA) has proposed the Government lend domestic airlines a credit package of between 25-27 trillion VND (1.08-1.17 billion USD) at a preferential interest rate for a three-four year term.
The Government needs to do more to revive the business sector, Dr Tran Hung Son, Deputy Director of the Institute for Development and Research in Banking Technology under the Vietnam National University-HCM City has said.
A social housing credit package worth 30 trillion VND (1.3 billion USD) is on the verge of running out, and this could pose difficulties for low-income people when it comes to renting or buying property.
The Agriculture and Rural Development Bank (Agribank) has said it will increase the support level for its credit package worth 100 trillion VND (4.3 billion USD).
Small- and medium-sized enterprises (SMEs) are finding it difficult to access the Government's credit package worth 250 trillion VND (10.7 billion USD) to support those affected by the COVID-19 pandemic because of a lack of trust in their ability to repay.
The Vietnam Technological and Commercial Joint Stock Bank (Techcombank) has announced a 30 trillion VND (over 1.28 billion USD) credit package to support its customers to overcome difficulties amid the COVID-19 pandemic.
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