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City firms in line for short-term SBV loans

Oct 17th at 13:40
17-10-2013 13:40:49+07:00

City firms in line for short-term SBV loans

About VND17 trillion (US$805.6 million) is expected to be lent to businesses, including family-run, under the bank-business connectivity programme by year-end, a State Bank of Viet Nam official said.

Nguyen Hong Minh, deputy director of the central bank's HCM City branch, said under the programme, launched in 2007 by SBV and the city's districts, eligible borrowers can get short-term loans at interest rates of not more than 9 per cent.

All 24 districts are part of the programme, and so far 600 firms and household businesses have borrowed a total of VND13 trillion in six years but VND17 trillion in the next three months, Minh said.

The programme is expected to help city-based banks increase their credit growth by 2-3 per cent, enabling them to achieve the yearly target of 11-12 per cent.

Last Thursday alone, 60 borrowers in Districts 1 and 3 inked loan deals worth over VND3.12 trillion ($141.818 million) with 13 banks.

They are mainly involved in agriculture and rural development, exports, support industry, and technology and are small- and medium-sized businesses.

vietnamnews

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