Decision No. 333/QD-TTg: Financing companies to offer subsidized loans

The Prime Minister issued, on March 10, Decision No. 333/QD-TTg on amendment to Decision 131/QD-TTg of the Prime Minister dated January 23rd, 2009 on assisting and supporting businesses and individual borrowers in the interest rate support program

The Prime Minister issued, on March 10, Decision No. 333/QD-TTg on amendment to Decision 131/QD-TTg of the Prime Minister dated January 23rd, 2009 on assisting and supporting businesses and individual borrowers in the interest rate support program. The decision took effect from the signing date.

Accordingly, financial companies, exclusive of those operating in the fields of consumer credit and credit card, will be participators of the interest rate support program, provided strictly meeting the State Bank of Vietnam’s regulations on prudent ratios in operations and risk provisioning, and with the amount of non-performing loans accounting for less than 5% of the loan outstanding.

Additionally, the Prime Minister assigned the SBV Governor to direct commercial banks in conducting the interest rate support program for enterprises operating in the mining sector and to announce the list of financial companies which are governed by the interest rate support program.

(Source: SBV)