ACB offers 300 million USD for local businesses
The Asian Commercial Bank has offered 5 trillion VND (over 300 million USD) for lending in order to assist local enterprises, household businesses and individuals to expand their production, the bank announced on Sept. 20.
The money, the first batch from the total 15 trillion VND the bank planned until the end of this year, aims to serve the businesses’ purposes of increasing exports, importing materials for production, and expanding production.
Of the figure, ACB sets aside 3 trillion VND to provide local exporters with credits worth up to 90 percent of the value of their contracts, and importers with mortgage loans worth up to 80 percent of the value of their import contracts.
The remaining 2 trillion VND will be provided to private businesses, household businesses and individuals.
VNA
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