Credit level up, interest rates down for exporters

The Asia Commercial Bank (ACB) has decided to increase the credit limit to 50 million USD for export enterprises against the former level of 20 million USD.

The joint-stock bank has also decided to reduce the annual Vietnam dong interest rates down to between 7.3 and 8.5 percent for the “Post-export support” programme. The rates for the “Pre-export support” scheme will be down to 9-10 percent a year.

ACB is offering numerous export credit policies with priority given to rice, fisheries, rubber, apparel and wooden furniture industries.

High-profile exporters may have loans without mortgages to cover the entire export process, from buying raw materials until receiving payments from foreign clients.

VNA

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