Danang Sets up SME Guarantee and Support Fund

The People’s Committee of Danang City has decided to set up a fund responsible for guaranteeing and supporting small and medium enterprises (SMEs) with an initial charter capital of VND100 billion.

 

The Management Council of the Fund is constituted by representatives from the Department of Finance, the Danang Development Fund, the State Bank of Vietnam, commercial banks and business associations. Beneficiaries subject to credit guarantees include SMEs, cooperatives, cooperative alliances, business households, individuals, ranchers, farmers and fishermen carrying out aquaculture, offshore fishing, industrial crop cultivation and livestock husbandry.