Hanoi will this year provide loans worth nearly VND2 trillion (US$87.5 million) for local people and businesses, helping them restore their production and counter the impacts of the Covid-19 pandemic.

The beneficiaries include the poor, social policy families, small and medium enterprises, cooperatives, and home businesses. 

Farmers in Hanoi's outskirt district of Me Linh are in the harvest of onions to supply the city's market. Photo: Vu Sinh

The above-mentioned loan will be funded via the Hanoi branch of the Bank for Social Policies, meanwhile, the people's committees of districts will ensure the right spending and purposes, avoiding overlapping with other support programs.

In 2022, assuming that the Covid-19 pandemic in the city is still unpredictable, Hanoi has built “scenarios” to restore production in the direction of flexible adaptation.

The Director of the Hanoi Department of Planning and Investment, Do Anh Tuan, said that the city will continue to promote the effectiveness of the city's working group to remove difficulties for businesses, cooperatives and home businesses affected by the Covid-19 pandemic.

"Accordingly, the city focuses on effectively implementing preferential policies on tax, credit, land, and human resources to support production and business for the above-mentioned beneficiaries," Tuan said.

Besides, the municipal government will promote the project to support small and medium-sized enterprises in the city for the period of 2021-2025 and the program to connect banks and businesses.