PRIMARY SCHOOLS AFFECTED BY COVID-19 MAY BORROW UP TO 200 MILLION VND
This highlight content is prescribed in the Prime Minister’s Decision No. 11/2022/QD-TTg dated April 27, 2022, on credit applicable to non-public early childhood and primary schools affected by the COVID-19 pandemic.
Accordingly, eligible borrowers include non-public early childhood and primary schools, including private and people-founded childcare groups, pre-primary classes, early childhood classes (hereinafter collectively referred to as private and people-founded early childhood education institutions); private and people-founded nurseries, pre-primary schools and early childhood schools (hereinafter collectively referred to as private and people-founded early childhood schools); private primary schools in accordance with law.
To be eligible for the loans, borrowers must satisfy the following conditions: Being formed and operating in accordance with law; Having its operation suspended at least 1 month up to the time of borrowing; Having a plan on borrowing loans for recovering and maintaining operation, that is made according to form and appraised by the Bank for Social Policies; Having no non-performing loan owed to any credit institutions or foreign bank branches arising before January 23, 2020, by the time of proposing for a loan.
The maximum loans for a people-founded or private early childhood education institution and a people-founded or private early childhood school or a private primary school are 80 million VND and 200 million VND, respectively. In which, the maximum loan term is 36 months and the loan interest rate is 3.3%/year.
This Decision takes effect from the signing date.
