Conditions for supporting interest rate of 2%/year with loans at Vietnam Bank for Social Policy

Conditions for supporting interest rate of 2%/year with loans at Vietnam Bank for Social Policy
Nguyễn Thị Diễm My

On May 30, 2022, the Government issued Decree 36/2022/ND-CP on interest rate support for loans at the Vietnam Bank for Social Policies.

Accordingly, the conditions for the state budget's support with an interest rate of 2%/year for a loan at the Vietnam Bank for Social Policies include:

- Having a loan that meets the following conditions:

+ Belongs to policy credit programs loaned by Vietnam Bank for Social Policies under: Government's Decree; Decision of the Prime Minister; entrustment documents of local authorities, economic organizations, socio-political organizations, associations, associations, non-governmental organizations, domestic and foreign individuals; agreements and contracts on on-lending from ODA and foreign incentives; other foreign funding arrangements;

+ Having a loan interest rate in Vietnam of over 6%/year;

+ Being disbursed by the Bank for Social Policies and having outstanding loans during the period of interest rate support.

- Customers borrow capital to the right borrowers and use the loans for the right purposes according to regulations.

See details in Decree 36/2022/ND-CP, effective from May 30, 2022.

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