Yesterday, the State Bank held an industry-wide online conference to implement the 2% interest rate support program from the state budget according to Decree 31 of the Government, and to implement Resolution No. 43 of the National Assembly on fiscal and monetary policies to support socio-economic recovery and development.
That means businesses can get a 2% reduction compared to the current interest rate. And this amount will be compensated by the budget for commercial banks. This is the first interest rate support policy using the state budget on a large scale, up to VND 40,000 billion, implemented through the commercial banking system.
At the meeting, the State Bank asked commercial banks to quickly deploy guiding circulars to each branch in 63 provinces and cities to soon support businesses, cooperatives and business households in need.
11 groups of subjects are supported with 2% interest rate
According to regulations, there are 11 main groups of industries with many opportunities for recovery to be supported, including aviation, tourism, transportation and warehousing, agriculture, forestry and fishery, processing industry, and manufacturing. Especially, including cases of borrowing capital for the implementation of projects on construction of social housing, housing for workers, and renovation of old apartment buildings.
Banks are ready
The problem that many businesses are interested in is how to access this support capital. Representatives of many commercial banks said that they are making urgent preparations, reviewing loans so that the level of support reaches the right people and right subjects.
“It is expected that there will be nearly VND 100,000 billion in outstanding loans and will be deployed as soon as the State Bank announces our limit,” said Mr. Pham Toan Vuong – Deputy General Director of Agribank.
As a rule, only creditable, resilient customers are supported. In order for information to be transparent and public, to avoid the case that one enterprise is supported but another cannot, banks also develop a mechanism to guide and synchronize the technology system.
“We will train, direct the system of branches, build a system of forms and documents, check and supervise processes, to ensure strictness, and answer customers’ questions is a program that belongs to the target group. object or not subject to explanation”, emphasized Ms. Pham Thi Trung Ha, Deputy General Director of MB
The 2%/year interest rate support package will be disbursed this year and next year, many experts calculate, this package is equivalent to a loan balance of about 1 million billion VND per year, which will create a recovery momentum. for many professions.
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