Experts warn that businesses suffering the most may not be able to access the VND285 trillion aid package because they cannot prove solvency. In February, the government announced a VND285 trillion credit package to support enterprises amid the Covid-19 crisis. Experts warn that businesses suffering the most may not be able to access the VND285 trillion aid package because they cannot prove solvency. BIDV, one of the four state-owned banks, or the ‘big four’, reported that it has disbursed VND28 trillion out of VND120 trillion it committed to lend. The amount to be disbursed depends on the enterprises’ absorption capability. Meanwhile, the amount of VND15 trillion is reserved for all clients, including VND13 trillion for businesses with minimum interest rate of 6.5 percent, and VND2 trillion for individuals with minimum interest rate of 7.5 percent. Mai Lan VN banks to offer credit packages for customers affected by COVID-19 VietinBank and Agribank will provide credit packages worth 60 trillion VND ($2.5 million) and 100 trillion VND respectively to support customers amid the COVID-19 pandemic. VP Bank shifts FE Credit to joint stock company The news that VP Bank has decided to shift its subsidiary FE Credit, specializing in consumer lending, to… Read full this story
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