BIDV will provide a package of preferential loans worth VND5 trillion or US$240 million to boost exports in select sectors.
According to the Bank for Investment and Development of Vietnam, loans will be offered to enterprises operating in four sectors, namely seafood production, coffee, footwear and garments and timber products, at competitive rates 2% lower than the standard interest rates.
The lender said the preferential loans are designed to help enterprises stimulate their production and exports in the coming months amidst high interest rates and mounting pressure to find new export markets.
The programme will run until March next year when all the loans should be disbursed.
In addition to cheap credit, the BIDV will also offer discounts on transaction fees for enterprises using the bank's financial and banking services.
Enterprises in the programme will also be able to buy foreign currency from the BIDV at competitive prices and make use of its commodity market consultants as well as its other services.
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