UAE real estate market booms in H1, led by Abu Dhabi
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Vietnamese banks have pledged VND408 trillion ($15.64bn) in preferential loans to help businesses access cheaper financing.
The State Bank of Vietnam (SBV) said on August 26 that 12 commercial banks had registered or announced their participation in the credit programme, according to Saigon News.
The initiative follows an SBV appeal on August 7 for lenders to improve businesses’ access to capital. Four state-owned commercial banks have together committed VND220 trillion.
The programme is aimed primarily at small and medium-sized enterprises, as well as businesses and individuals involved in production and commercial activities in priority industries and key areas supporting economic growth.
Eligible sectors include agriculture, supporting industries, high-tech activities, exports, the digital economy, artificial intelligence, semiconductors, processing and manufacturing, and green projects.
Loans denominated in Vietnamese dong under the scheme must carry interest rates at least one percentage point below each participating bank’s average lending rate for loans with the same maturity at the time the loan is issued.
The programme is intended to ease financing costs for businesses while directing credit towards sectors considered important to Vietnam’s economic development.
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