Vietnam Cuts Credit Rates for Exporters to 2.9 per cent/Year
The Ministry of Finance has decided to slash interest rates of preferential loans for exporters down to 2.9 per cent as part of the government’s export promotion program through the Vietnam Development Bank.
The VDB is expected to spend between VND300 billion and VND400 billion for the program, the MOF said.
The new rate is valid for export lending contracts with disbursement time from April 17 to the end of this year.
After the period, if the loans are continued, borrowers will have to pay ordinary lending rates. (CafeF)
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