Deployment of 2% interest rate support package

On May 27, the State Bank of Vietnam (SBV) held an online conference for the whole industry, implementing a program to support 2% interest rates from the state budget of VND 40,000 billion, according to Decree 31/2022/ ND-CP of the Government and Circular 03/2022/TT-NHNN of the State Bank. This is the program that businesses look forward to the most to restore production and business.

This is the first interest rate support policy using the state budget and has been deployed on a large scale through the commercial banking system. Therefore, right from the draft process, the State Bank has actively and actively coordinated with ministries, branches and commercial banks through many meetings as well as collecting written opinions to develop and complete improve the Decree and the guiding circular to soon put the support policy into practice, with the goal of helping businesses, cooperatives and business households to access bank capital at lower interest rates to overcome difficulties. difficulties, stability and business development.

Online conference of the whole banking industry to implement the program of 2% interest rate support from the State budget.

Deputy Governor of the State Bank Dao Minh Tu said that this is the time to officially launch the program after having a full legal basis for this policy. “The fact that credit institutions provide internal guidance and technical measures during the implementation process was also thoroughly understood during the conference on how to accelerate the 2% support for businesses and customers. in the supported category,” said the Deputy Governor.

According to Circular 03/2022 of the State Bank of Vietnam, commercial banks must register interest rate support plans from the state budget for both 2022 and 2023 and detailed each year according to the provisions of Decree 31. Cases the total amount of interest support as planned by commercial banks in 2022 and 2023 is less than or equal to 40,000 billion dong, or greater than 40,000 billion dong, the State Bank will determine the interest rate support limit with each NH.

Pham Toan Vuong, Deputy General Director of Agribank, said that the bank will review customers who have had credit contracts since the beginning of the year to provide additional support for those eligible for support.

“In principle, the bank has identified 11 industry groups in the priority group that are all supported. Argibank will review and disbursed funds from January 1, will meet with customers to agree additionally and commit to support customers, “Mr. Vuong said.

Circular 03/2022 also states that commercial banks will provide interest rate support to customers in the order of priority when interest collection comes first, within the announced interest rate support limit. In case in the process of interest rate support, the remaining interest rate support limit is not enough to support interest payment obligations at the same time of debt repayment, commercial banks shall provide interest rate support in the following order: Customers who have signed loan agreements are entitled to interest rate support in advance and announced publicly on the website of commercial banks./.

Jewel