TRADE FINANCE | Cesar Tordesillas, Malaysia

VietinBank to lend 80 trillion dong to prioritised sectors

VietinBank launched programmes in line with the socio-economic development orientation of the government and the State Bank of Vietnam  to support agriculture, rural development and export activities, the bank's representative said.

The bank set aside about 50 trillion dong.

The bank also allocated nearly 30 trillion dong for the supporting industry in sectors of garment and textile, footwear and leather, engineering and manufacturing.

The borrowers in these programmes will be enterprises, producers under prioritised sectors in accordance with the policy of the government and the central bank.

The dong lending rate in these programmes will be 2-2.5 percent lower than the common dong loan rate and it will be 0.5 percent lower than the common US dollar lending rate at VietinBank.

These programmes are carried out under the direction of the government and the central bank to support enterprises in the context of tight monetary policy and high lending rate.

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