Term of refinancing, disbursement of refinancing for loans of the Vietnam Bank for Social Policies?

According to current regulations, the State Bank of Vietnam provides refinancing to the Vietnam Bank for Social Policies to lend to employers for implementing certain policies to support employees and employers facing difficulties caused by the COVID-19 pandemic. How are the terms for refinancing and refinancing disbursement executed?

Based on Article 4 of Circular 10/2021/TT-NHNN stipulating the refinancing term, refinancing disbursement for loans of the Vietnam Bank for Social Policies as follows:

  1. The refinancing term is 364 days, calculated from the following day after the State Bank of Vietnam disburses refinancing for the Vietnam Bank for Social Policies.

  2. The refinancing term stipulated in Clause 1 of this Article is applied to each disbursement as prescribed in Clause 4, Article 6 of this Circular.

  3. The refinancing disbursement term is from the date of signing the first debt undertaking contract until the end of March 31, 2022, or until the disbursement of 7,500 billion VND, whichever condition comes first.

Sincerely!

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