Commercial banks pledge to lend 150 trillion VND to Hanoi businesses
According to the State Bank of Vietnam’s Hanoi branch, the commercial banks in the city committed at a conference on September 27 to set aside 150 trillion VND as a credit support package, aiming to help local enterprises increase production to stabilise the market with the Lunar New Year approaching.
The Hanoi People’s Committee and the State Bank of Vietnam co-chaired a conference on September 27 to strengthen the link between banks and local businesses in the remaining months of this year.
Hoang Viet Trung, deputy director of the State Bank of Vietnam’s (SBV) Hanoi branch said that commercial banks in the city pledged to set aside 150 trillion VND as a credit support package.
The credit support package aims to help enterprises increase production to meet people’s rising demand and stabilise the market with the Lunar New Year approaching, Trung added.
The funds would be disbursed from now until the mid of 2017, with preferential interest rates offered at 1.5-2 percentage points lower than the common rates, he said.
Vice Chairman of the municipal People’s Committee Nguyen Doan Toan said the package would be used to help more than 200,000 local enterprises solve difficulties while seeking loans for business and production.
It would also encourage them to participate in the market stabilisation programme and store goods to serve people’s demand during floods, holidays and festivals, according to the Vice Chairman.
Quach Phung Hiep, deputy director of the Bank for Investment and Development of Vietnam, said after two years of joining the bank-business linking programme, the bank had lent 130 trillion VND to enterprises, contributing to their development.
However, he suggested that the city’s authority clearly define production sectors that are needed to support and which will be prioritised to carry out the programme more efficient.
Director of the municipal Department of Industry and Trade Le Hong Thang said his agency is planning to organise a promotion day for credit institutions in Hanoi in November 2017 under the framework of the year’s promotion campaign.
The report of State Bank of Vietnam’s Hanoi branch pointed out that outstanding loans offered in line with bank-business linking programme in the city have been rising in the past two years.
Since early this year, 120 commercial banks and branches signed credit support contracts with local businesses worth VND170 trillion VND, of which 70% was disbursed.
Also at the conference, 10 commercial banks and 11 enterprises signed cooperation and credit agreements with loans committed reaching 3 trillion VND.
At the conference to strengthen the link between banks and Hanoi's enterprises.
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The credit support package aims to help enterprises increase production to meet people’s rising demand and stabilise the market with the Lunar New Year approaching, Trung added.
The funds would be disbursed from now until the mid of 2017, with preferential interest rates offered at 1.5-2 percentage points lower than the common rates, he said.
Vice Chairman of the municipal People’s Committee Nguyen Doan Toan said the package would be used to help more than 200,000 local enterprises solve difficulties while seeking loans for business and production.
It would also encourage them to participate in the market stabilisation programme and store goods to serve people’s demand during floods, holidays and festivals, according to the Vice Chairman.
Quach Phung Hiep, deputy director of the Bank for Investment and Development of Vietnam, said after two years of joining the bank-business linking programme, the bank had lent 130 trillion VND to enterprises, contributing to their development.
However, he suggested that the city’s authority clearly define production sectors that are needed to support and which will be prioritised to carry out the programme more efficient.
Illustrative image
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The report of State Bank of Vietnam’s Hanoi branch pointed out that outstanding loans offered in line with bank-business linking programme in the city have been rising in the past two years.
Since early this year, 120 commercial banks and branches signed credit support contracts with local businesses worth VND170 trillion VND, of which 70% was disbursed.
Also at the conference, 10 commercial banks and 11 enterprises signed cooperation and credit agreements with loans committed reaching 3 trillion VND.
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