SBV: Vietnam Banks Provide VND130 Tln Soft Loans
Banks and credit institutions in Vietnam said to have loaned VND130 trillion (US$7.7 billion) to enterprises as a result of the government’s 4 per cent interest rate subsidy program so far, the State Bank of Vietnam, the country’s central bank, said on March 13.
“Those funds are very supportive of local enterprises and helpful for them to struggle against impacts of the global downturn,” the SBV said in a statement printed in its newspaper of Thoi Bao Ngan Hang.
The government launched the program in early February, the state media said.
Lead economists analyzed that the government’s demand stimulus policies are demonstrating its effects, the SBV said.
February’s industrial production rose 21.6 per cent on month and 14.8 per cent on year, the SBV noted, quoting the Ministry of Planning and Investment.
In the first two months, 18,000 Vietnamese workers had found jobs outside the country amid the global GDP contractions, the state-run Lao Dong newspaper said.
However, a survey recently publicly announced by the online Thoi Bao Kinh Te newspaper showed that a quarter of local firms are on brink of bankruptcy. (Banking Times, Labor)
Vietnamese
