Refinancing loans granted to Vietnam Bank for Social Policies under Decision No. 23/2021/QD-TTG

Bao Ngoc

17:28, 21/07/2021

On July 21 2021, the State Bank of Vietnam issued Circular No. 10/2021/TT-NHNN on refinancing loans granted to Vietnam Bank for Social Policies for employees Decision No. 23/2021/QĐ-TTg on implementation of certain policies to support employees and employers in difficulty due to the COVID-19 pandemic

According to Circular No. 10/2021/TT-NHNN, the maximum amount of the refinancing loan is VND 7.500 billion.

The interest rate on the refinancing loan is 0%/year, the interest rate on the overdue amount of the refinancing loan is 0%/year.

Term and disbursement of refinancing loan:

The term of the refinancing loan is 364 days commencing on the date following the day on which the SBV disburses the refinancing loan amount to VBSP.

The term of the refinancing loan specified in Clause 1 of this Article shall be determined according to each disbursement as prescribed in Clause 4 Article 6 hereof.

The refinancing loan shall be disbursed within the period commencing on the signing date of the first indebtedness contract and ending on March 31, 2022 or until the refinancing loan amount of VND 7.500 billion is fully disbursed, whichever comes first.

Note: The State Bank of Vietnam does not require any collateral for the refinancing loan granted to the Vietnam Bank for Social Policies.

Circular No. 10/2021/TT-NHNN takes effect from July 21, 2021.

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