VND93 trillion for interest rates bailout in February

The Vietnamese State Bank (VSB) has announced that 85 commercial banks in February disbursed nearly VND93 trillion to support businesses with a preferential lending interest rate of 4 percent.

The government’s package to subsidise interest rates is expected to inject VND420 trillion into the national economy this year. Accordingly, State commercial banks, joint stock commercial banks, international banks and joint- venture banks disbursed VND76 trillion, VND18 trillion and VND1.5 trillion respectively.

The interest rate bailout is considered the most suitable solution to help the commercial banks use their capital stagnant, and increase the loans. This also keeps savings interest rates at a reasonable level and prevents fluctuation in the capital market.

VOV

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