VBSP receives VND 16 trillion refinancing for enterprises to borrow for wage payments during work suspension

15:15, 10/07/2024

This is the notable content of Circular 05/2020/TT-NHNN regulating the refinancing for the Vietnam Bank for Social Policies according to Decision 15/2020/QD-TTg dated April 24, 2020, by the Prime Minister of the Government of Vietnam on the implementation of policies to support people facing difficulties due to the COVID-19 pandemic.

To be specific:, this Circular stipulates that the State Bank refinances the Bank for Social Policies to provide loans to employers for payment of work suspension wages according to Decision 15/2020/QD-TTg with a total maximum refinancing amount of VND 16,000 billion, including:

- Refinancing interest rate is 0% per annum;- Overdue refinancing interest rate is 0% per annum.

Note: The refinancing period is 364 days, starting from the day following the disbursement of refinancing by the State Bank to the Bank for Social Policies; the refinancing disbursement period is from the date of signing the first loan agreement until July 31, 2020.

See details at Circular 05/2020/TT-NHNN, effective from May 7, 2020.

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