State commercial banks urged to provide loans to petrol traders

State commercial banks are requested to balance their capital to ensure that petrol importers are provided with sufficient capital and foreign currency to import petrol, even though these traders are suffering from losses that have not been compensated from the State's budget.

This is according to a new decision signed by the Governor of the State Bank Vietnam in implementation of the Prime Minister to ensure petrol importers to have enough capital and foreign currency to import enough petrol for 2008 as assigned by the Ministry of Industry and Trade.

Specifically, State-owned commercial banks are asked to continue providing loans and opens L/C for petrol importers, especially those credit agreements and L/C openings that commercial banks have committed with petrol importers in 2008.

In case of difficulties, commercial banks should report to the State Bank of Vietnam for consideration and settlement so as to ensure that key petrol importers have enough capital and foreign currencies to import enough the amount of petrol assigned by the Ministry of Industry and Trade for 2008.

ND

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