This Decree regulates in details policies on provision of interest rate support for loans for socio-economic recovery and development as mentioned at Resolution No. 43/2022/QH15 and Resolution No 11/NQ-CP dated January 30th, 2022.
Accordingly, a loan that meets the following conditions shall be granted the interest rate support by the state via Vietnam Bank for Social Policies (VBSP):
(i) The loan is granted by VBSP under policy credit programs;
(ii) Interest rate charged on the loan is higher than 6%/year;
(iii) The loan has been disbursed by VBSP and outstanding debt occurs in the effective period of interest rate support policy.
The interest rate support shall be provided from January 1st, 2022 to December 31st, 2023 or until VBSP notifies the termination of the interest rate support program.
The rate of support is 2%/year of the outstanding debt of the loan amounts disbursed within the interest rate support period and supported loan term.
VBSP shall monthly calculate and deduct the support amount from total interest payable of each borrower.
This Decree takes effect from the date of its signing.
|Published||Vietlaw's Newsletter No. 572|