HCMC – Thirty-five Vietnamese banks have pledged VND405 trillion in loans to assist individuals and businesses impacted by typhoon Yagi, said Nguyen Thi Hong, governor of the State Bank of Vietnam (SBV), at a National Assembly session today, November 11.
The package comprises new loans and interest rate reductions aimed at helping those affected by the storm, which disrupted around 124,000 customers with debts totaling VND192 trillion. These loans are intended to enable customers to resume operations and stabilize finances.
Hong highlighted that the SBV has issued four directives to banks, urging them to adjust repayment schedules, reduce or waive interest, and provide continued financial support to aid economic recovery.
Of the total pledged amount, around VND300 trillion will be allocated for loans at reduced interest rates for business recovery, with rates tailored to various customer segments.
The SBV has also proposed that the Government maintain debt classifications and adjust risk provisions for loans affected by the storm, alongside plans to expedite regulatory processes.
Today’s National Assembly session also commenced a Q&A round, with legislators focusing on issues related to banking, healthcare, and information and communications.
