Wed, 06 Dec 2023

HANOI, Oct. 3 (Xinhua) -- The Vietnamese government has proposed continuing the 2 percent interest rate support policy for enterprises, cooperatives and business households in order to boost economic recovery, Vietnam News Agency reported Tuesday.

The government also proposed the policies be extended until the end of 2025.

In response to the COVID-19 pandemic, the subsidized interest rate of 2 percent per annum for a total loan amount of 40 trillion Vietnamese dong (1.69 billion U.S. dollars) has been provided in 2022 and 2023 through the system of commercial banks to enterprises, cooperatives and business households capable of loan repayment and recovery in various sectors.

According to the State Bank of Vietnam, by July 2023, commercial banks disbursed about 681 billion dong (28 million dollars), or 1.7 percent of the total support package size.

It is estimated that by the end of this year, the loan disbursement will reach over 2.5 trillion dong (102.5 million dollars), or 6 percent of the total.

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