HCM City disburses over VND71,000 billion in loans

In the first 6 months, many banks and finance companies involved in the Government’s programme to subsidise the interest rates on loans, disbursed more than VND71,300 billion to businesses, organisations and individuals in Ho Chi Minh City with the total amount of subsidised interest reaching VND450 billion.

VND1,400 billion was allocated long and medium term loans and VND70,000 billion for short-term loans.

The State Bank of Vietnam’s branch in HCM City conducted a survey of 72 businesses, which showed that after receiving low-interest loans from the Government’s programme, businesses saw a drop in expenditure of over 36 percent. It also decreased the cost of production to 4.6 percent and increased revenues to over 14 percent.

However, many small and medium enterprises still have not applied for loans from the demand stimulus programme. The HCM City provincial people’s committee guaranteed credit to small and medium enterprises to ensure that they overcome their current difficulties.

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