According to the State Bank, the system of credit institutions has been actively implementing credit programs to support people and businesses affected by Covid-19 epidemic, with reduced lending rates from 0.5-2.5%. To share difficulties caused by the Covid-19, many commercial banks also reduced lending rates by 3-4% per year.
In Binh Duong, Provincial People's Committee directed and collaborated with the banking industry, trade associations, and businesses to implement many measures, such as reducing interest rates, extending and postponing debts; exempting or reducing some types of transaction fee to support customers affected by the epidemic. It is estimated, by the end of May-2020, the whole province had about VND 26,860 billion of loans for borrowers affected by the epidemic, accounting for about 13.2% total loans. Credit institutions have rescheduled debt repayments and maintained loan groups for 3,067 billion VND; exempted and reduced loan interest of VND 808 billion, new loans to help customers overcome difficulties of VND16,697 billion.
In order to recover and maintain economic growth, the province will maintain solution groups to ensure adequate and timely capital supply for production and business activities, improve customers' access to loans. The province continues to implement the Government's and the province's policies on tax and fee exemptions reductions, and examine proposals, plans to reduce interest rates, extend time limit for debt payment, social insurance payment; at the same time support a part of salary to stop working to employees of enterprises to contribute to solving difficulties for those affected by the epidemic.
Reported by Minh Duy - Translated by Ngoc Huynh
