As of October 31, banks had provided new preferential loans totaling 27 trillion VND and reduced interest rates on existing loans with an outstanding balance of approximately 82 trillion VND, Hong said in reply to a question by Tuyen Quang province’s Deputy Ma Thi Thuy regarding the banking sector’s support policies for customers in the agricultural field impacted by Typhoon Yagi.

Governor of the State Bank of Vietnam Nguyen Thi Hong.

She said that after the typhoon caused significant damage to people and businesses in early September, the central bank conducted surveys in Hai Phong and Quang Ninh - the worst affected by the storm - and identified the outstanding loans in these localities at approximately 12 trillion VND.

Subsequently, it instructed credit institutions to focus on reviewing and assessing the damage to outstanding loans held by borrowers in these areas. Data from 26 provinces and cities indicated that the total outstanding loans affected by the typhoon amounted to around 190 trillion VND.

On that basis, it directed credit institutions to focus on implementing measures to help businesses and individuals deal with difficulties, such as restructuring loan repayment terms, maintaining loan classification according to current regulations, and considering interest reduction or exemption for those affected by the typhoon.

In addition, the banking system actively participated in social welfare efforts by supporting people and businesses with approximately 40 trillion VND, the governor said.

According to her, there are currently many sources of capital available for businesses and individuals, including self-owned capital, bank loans, foreign direct and indirect investment capital, and debt financing.

Therefore, businesses and individuals need to carefully consider which sources of capital are most suitable for their needs.

When accessing capital from the banking system, they must meet the borrowing conditions and standards, with the most important condition being the ability to repay the loans, and having feasible business plans.

The State Bank of Vietnam will make every effort needed to implement credit support measures while still controlling inflation, Hong affirmed.

Bac Giang protects and supports to develop "Yen The Deer Velvet" brand

BAC GIANG - The Soils and Fertilizers Research Institute (Hanoi) is coordinating with the People's Committee of Yen The district (Bac Giang province) and related units to implement a project to protect, manage and support the development of the "Yen The deer velvet" brand.

Second support of 55 billion VND allocated to storm hit localities in Bac Giang

BAC GIANG - From voluntary donation to overcome the consequences of storm No. 3, the Bac Giang Provincial Relief Mobilization Committee in Bac Giang province has just allocated 55 billion VND (2.36 million USD) in the second phase of support for 9 districts and township.

Dong Nai Provincial Party Chief visits and supports people of Bac Giang province to overcome storm No. 3’s aftermath

BAC GIANG - A delegation from Dong Nai province led by Nguyen Hong Linh, member of the Party Central Committee and Secretary of the Provincial Party Committee (PPC) on October 4 visited Bac Giang province to encourage and support victims of storm No.3. The delegates were received by Nguyen Van Gau, member of the Party Central Committee and Secretary of the Bac Giang Provincial Party Committee.

Bac Giang supports packaging and labels for OCOP products

BAC GIANG - Bac Giang province has recently focused on directing departments, sectors and organizations to coordinate with localities to support businesses, cooperatives and people in designing and completing packaging, labels and traceability stamps for products, especially key and typical products participating in the One Commune One Product Program (OCOP).

Bac Giang stimulates consumer demand, supports production and business

BAC GIANG- Chairman of the provincial People’s Committee of Bac Giang province (PPC) has issued an official dispatch on implementation of the Prime Minister’s Directive No 29/CT-TTg dated 27 August 2024 on stimulating consumer demand, supporting production and business, and developing the domestic market in the province.

UNICEF hailed for effectively support to Vietnam in child rights, child protection

Vice Chairwoman of the National Assembly (NA) of Vietnam Nguyen Thi Thanh has hailed the United Nations Children’s Fund (UNICEF) for its effective support to Vietnam in protecting the rights of the child and vulnerable groups in nearly 50 years.