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Private sector benefits from loans
The private sector had absorbed more than a half of the total subsidised-interest loans made by banks over the past two months, the State Bank of Viet Nam announced yesterday.
Limited companies, joint stock companies and foreign-invested firms have borrowed VND94.6 trillion ($5.3 billion) in Government-subsidised loans, about 60 per cent of the total of VND157.8 trillion (US$8.9 billion) lent under the programme so far.
State-owned enterprises had borrowed nearly VND58 trillion ($3.26 billion) under the programme, nearly 36 per cent of the total subsidised loan, followed by individual borrowers and households with VND4.39 trillion ($247 million), or 2.8 per cent of the total, and co-operatives with VND291 billion ($16.37 million), or 0.2 per cent.
Broken down geographically, 40.4 per cent of the loans were made in the southeast region (centred on HCM City), 20.5 per cent in the Cuu Long (Mekong) Delta region, 19.7 per cent in the Hong (Red) River Delta region (centred on Ha Noi), 9.5 per cent in the central coastal region, 5.4 per cent in the northeast region, 2.2 per cent in the Central Highlands region, and just 0.3 per cent in the northwest region.
The $8.9 billion in subsidised-interest loans now account for 25.4 per cent of the banking system's total outstanding short-term loans made in Vietnamese dong.
The State Bank said enterprises in a number of sectors negatively affected by the economic downturn and declining exports had been helped to maintain production by receiving the low-interest loans, including seafood processors.
It said it would work closely with local authorities to further review the results of the subsidised loan programme and to ensure no violations, such as using the loan programme to get more favourable terms on existing loans. The central bank stated that no such violation had yet been found.
VietNamNet/Viet Nam News
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