Support to reduce 2%/year loan interest rate for economic recovery

The Government has just issued Decree No. 36 on support interest rate for loans at the Bank for Social Policies, under the Socio-Economic Development and Recovery Program. Accordingly, 3,000 billion dong will be set aside to support a 2%/year reduction in interest rates this year and next year with loans for economic recovery and development.

Today, at the transaction point of the Bank for Social Policies in Phu Thi commune, Gia Lam district, Hanoi, the bank will disburse loans to 7 households under the job creation program and the water program. clean, hygienic environment, with a total disbursed capital of up to 490 million VND. In particular, these loans will all receive an additional 2% interest rate reduction according to Decree 36.

“Having this policy, we are very excited to have higher labor productivity,” said Mr. Tran Huy Dung, Gia Lam district, Hanoi.

3,000 billion dong will be set aside to support a 2%/year reduction in interest rates this year and next year with loans for economic recovery and development. (Illustration image – Photo: Investment Newspaper)

“We have to pay 350,000 per month for every 50 million, but now there is a policy that we will be reduced by 88,000. To tell the truth, it is very meaningful to farmers,” said Mrs. Doan Thi Hop, Gia Lam district, Hanoi city. .

A representative of the Bank for Social Policies said that this support is mainly for borrowers under policy credit programs, mainly individuals, households and small business households. For example, the normal loan interest rate is 8%, now borrowers will be supported to reduce 2%, ie down to 6%.

“The bank will coordinate with the Fatherland Front to strengthen inspection and supervision so that the interest rate support is guaranteed to the right people and there is no phenomenon of policy profiteering,” said Do Thi Hien, deputy head of the bank. Director of the Bank for Social Policy in Hanoi, said.

Until today, just over a week after Decree 36 came into practice, the Bank for Social Policies has disbursed more than 45,000 billion VND to support 2% interest rate for more than 1 million borrowers and will continue to continue to disburse this support package to support people with loans for economic recovery.

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