Workers from Impoverished Districts Can Borrow Up to 100% of the Cost of Working Abroad

Nguyen Trinh

19:18, 10/07/2024

This is the basic content stipulated in Decision 27/2019/QD-TTg on credit for workers in poor districts going to work abroad under a contract until 2020.

Employees with permanent residence registration for 12 months or more in poor districts will be eligible for unsecured loans up to 100% of the costs borne by the employees as per the contract for sending employees to work abroad signed with enterprises and public service organizations.

Among them, employees from poor households and ethnic minorities will be granted loans at an interest rate equal to 50% of the lending interest rate for poor households, while other employees in poor districts will be granted loans at the lending interest rate for poor households. The overdue loan interest rate is 130% of the lending interest rate as per this regulation.

Note, the loan term shall not exceed the working period stated in the contract for sending employees to work abroad signed between the employees and the enterprises, public service organizations according to the regulation.

Decision 27/2019/QD-TTg takes effect from October 25, 2019, and its disbursement will be carried out until December 31, 2020.

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