$8.3 billion credit package for SMEs to come soon

$8.3 billion credit package for SMEs to come soon

The programme is one of the SBV's solutions to promote growth in the context of a volatile global economy due to geopolitical conflicts and trade tensions.

Electronic component manufacturing at Star Engineers Vietnam Company in the northern province of Phú Thọ. — VNA/VNS Photo

 A VNĐ220 trillion (US$8.3 billion) preferential credit programme for small- and medium-sized enterprises (SMEs) and priority sectors will be implemented in the remaining months of this year to support businesses in accelerating their growth, Deputy Governor of the State Bank of Vietnam (SBV) Phạm Thanh Hà has announced.

According to Hà, the SBV has held meetings, directed and encouraged commercial banks, especially State-owned commercial banks, to leverage their pioneering role, proactively allocating loan capital at preferential interest rates to support SMEs in accessing capital, promoting production and business, and creating momentum for economic growth.

Based on the results of the meetings, the SBV is urgently finalising guidelines to implement the programme soon, Hà said.

The programme is one of the central bank's solutions to promote growth in the context of a volatile global economy due to geopolitical conflicts and trade tensions.

Though the Vietnamese economy has still shown many positive signs, with GDP growing by 8.18 per cent in the first six months of 2026, average inflation at 4.39 per cent for the first seven months and core inflation at 4.19 per cent, this growth rate is still lower than the 9.7 per cent target set in the Government’s Resolution 01, requiring continued vigorous implementation of policies to support growth.

To facilitate commercial banks in expanding lending, the SBV has implemented a number of comprehensive monetary policy measures. It will continue to maintain the benchmark interest rates, flexibly manage open market operations (OMO) to support liquidity, regulate exchange rates in line with market developments, and implement mechanisms to facilitate capital flow.

Notably, the SBV early this month issued Decision No. 1743/QĐ-NHNN, allowing for the deduction of 50 per cent of the balance of time deposits held by the State Treasury when calculating the loan-to-deposit ratio at commercial banks since this month. According to the SBV, this regulation will contribute to increasing capital balance room, supporting liquidity, and creating conditions for credit institutions to expand credit to the economy.

The SBV has also instructed commercial banks to provide credit for 18 key infrastructure projects, adjusted the maximum ratio of short-term capital used for medium- and long-term lending to 40 per cent since July 1, 2026, and allowed 25 credit institutions to exclude the increased outstanding debt for social housing, industrial parks, and export processing zones from their real estate credit growth limits.

The Governor said that in the remaining months of the year, the SBV will continue to proactively and flexibly manage monetary policy, closely coordinating with fiscal policy and other macro-economic policies to control inflation, stabilise the macro-economy, and ensure capital supply for the economy, contributing to the achievement of sustainable growth targets.

Thanks to comprehensive management solutions, outstanding loans of the entire banking system reached over VNĐ20.15 quadrillion, an increase of 8.38 per cent compared to the end of 2025. The credit focused on production and business sectors, priority industries, and growth drivers in accordance with the Government's policies. 

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