Non-public preschools and primary schools affected by the COVID-19 epidemic get preferential loans

Borrowers under this Decision are preschool education institutions non-public including: independent children’s groups, independent kindergarten classes, independent preschool classes of the type of people-founded and private; kindergartens, kindergartens and preschools of the type of people-founded or private; private primary schools in accordance with the law.

Loans are used to repair facilities, purchase medical equipment and supplies for COVID-19 prevention and control; Procurement of equipment for nurturing, care and education for rehabilitation and maintenance of activities.

The maximum loan amount is 80 million VND for people-founded and private independent preschool educational institutions; a maximum of 200 million VND for people-founded, private preschools and private primary schools. Maximum loan term is 36 months with loan interest rate of 3.3%/year.

According to this Decision, the Bank for Social Policies makes direct loans to borrowers. The Bank for Social Policies is responsible for guiding loan applications and lending processes to borrowers according to regulations, ensuring simplicity, clarity, ease of implementation, publicity and transparency.

The Ministry of Education and Training shall assume the prime responsibility for, and report to the Prime Minister on amendments and supplements to this Decision (if necessary).

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