HCMC — Vietnam’s central bank and commercial lenders are preparing to launch a VND500-trillion credit package to support infrastructure and digital technology projects, reported the local media.
The credit program, expected to roll out this month, will offer preferential loans to projects that meet specific criteria, said Dao Minh Tu, deputy governor of the State Bank of Vietnam (SBV), at a press briefing on May 6.
Tu added that the program differs from previous initiatives in two ways. It requires clear identification of eligible technology sectors and investment areas, and it addresses the mismatch between long-term infrastructure needs and the short-term capital mobilized by commercial banks.
The SBV has registered participation from 21 banks. Four state-run banks will each contribute VND60 trillion. Twelve large privately-held banks will commit VND20 trillion each, and five smaller banks will provide VND4 trillion each.
The minimum term for the preferential loans is two years. Funding will come entirely from the banks’ own resources, not from the state budget or foreign sources.
Participating banks will offer incentives such as reduced interest rates, longer loan terms, and restructured short-term capital for medium- and long-term lending.
The program aims to channel credit into strategic sectors to support economic development.
