PROVIDE 2% INTEREST RATE SUPPORT PACKAGE FOR ENTERPRISES
This noticeable is prescribed in the Government’s Decree No. 31/2022/ND-CP dated May 20, 2022, on interest rate support from the State budget for loans of enterprises, cooperatives and business households.
Specifically, enterprises, cooperatives and business households falling into one of the following cases shall be entitled to interest rate support:
Firstly, having a purpose of using loans belonging to one of the sectors registered for trading as prescribed in the Decision No. 27/2018/QD-TTg, including: aviation, transportation and storage (H), tourism (N79), accommodation and food service (I), education and training (P), etc.; including construction activities directly serving the above-mentioned economic sectors but excluding construction activities for the purpose of real estate business specified in the economic sector (L) under the Decision No. 27/2018/QD-TTg.
Secondly, having a purpose of using loans to perform social housing projects or projects of building houses for workers, or renovation of old condominiums in the lists synthesized and announced by the Ministry of Construction.
The support interest rate for customers is 2%/year, calculated on the loan balance and the actual interest rate support term. The support duration shall be counted from the date of disbursement of the loan amounts to the time the customer fully pays the loan principal and/or interest as agreed between the commercial bank and the customer, in line with the announced funding source for interest rate support, but no later than December 31, 2023.
By the payment deadline of each interest payment term, the commercial bank shall reduce for the customer an amount that is equal to the loan interest amount provided with interest rate support in the period under the instructions of the State Bank of Vietnam. The Governor of the State Bank of Vietnam shall guide commercial banks to provide interest rate support, specifying management methods to ensure the total supported amount not exceeding 40,000 billion VND.
This Decree takes effect on the date of its signing.
