ADB Supports SMEs’ Development Program
PM Nguyen Tan Dung has proposed the State President to consider and ratify a loan agreement to supporting Small and Medium-Sized Enterprise (SMEs)’s Development Program.
Earlier, the Governor of the State Bank of Vietnam signed a credit agreement with representative of ADB in Vietnam, in which the ADB pledged to directly assist the reform and development program for SMEs.
Specifically, the program will help consolidate legal framework for the SMEs’ development, push up the competition framework and strengthen SMEs’ access to financial services.
The 24-year loan, worth of US $40 million, has a grace period of eight years with an annual interest rate of 1.0%, then rises to 1.5% a year afterwards.
VGP
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