500,000 billion VND in loans for investment in infrastructure and digital technology

According to information from the State Bank of Vietnam (SBV), commercial banks are promoting registration to participate in the VND500,000 billion credit package for lending to enterprises investing in infrastructure and digital technology. This is a preferential interest rate credit package that Prime Minister Pham Minh Chinh assigned Deputy Prime Minister Ho Duc Phoc to direct SBV to build to support enterprises investing in infrastructure and digital technology, encourage investment for growth and release social resources.

The 500,000 billion VND credit package will use capital mobilized from commercial banks.

According to the reporter's research, the VND500,000 billion credit package mainly uses resources from commercial banks. Credit institutions will balance mobilized capital for appropriate lending, preferential interest rates can be reduced by 1-2 percentage points compared to normal lending interest rates. However, the implementation of this credit package will depend on the resources of each bank, ensuring the goal of supporting businesses, promoting capital efficiency but still ensuring safe operations, avoiding bad debt.

Therefore, in the coming time, commercial banks will proactively calculate, balance and allocate resources and register to participate in this credit program in order to effectively implement the credit package. Banks will base on the list of key projects in the transport, electricity and digital technology sectors issued by the Ministry of Construction, the Ministry of Industry and Trade, and the Ministry of Science and Technology to determine the right lending subjects, review and appraise projects in accordance with the law.

Currently, banks are participating in financing many key national infrastructure projects. Specifically, the Bank for Foreign Trade of Vietnam (Vietcombank) has participated in financing the Lao Cai - Vinh Yen Power Transmission Line Project, Nhon Trach 3 and 4 Power Plants, Long Thanh International Airport; Vietnam International Bank (VIB) has funded infrastructure projects such as BOT, power generation, and transmission, most recently participating in financing part of the 500 kV power line project.

VIB representative said that the bank is ready to deploy a credit package of 5,000 - 10,000 billion VND with preferential interest rates about 1% lower than the normal level, to accompany the key policies of the state.

Ms. Phung Thi Binh, Deputy General Director of the Vietnam Bank for Agriculture and Rural Development (Agribank), affirmed that the bank is ready to support businesses, especially in terms of interest rates. However, it is necessary to be clear about the responsibilities in lending so that banks can confidently implement it.

Mr. Le Quang Vinh, General Director of Vietcombank, emphasized that the banking industry identifies credit as an effective support tool for businesses. However, in order for banks to participate in supporting businesses in the above fields, especially innovative technology businesses, they need to consider building a mechanism for capital contribution and benefit sharing, instead of applying traditional lending methods.

According to Deputy Governor of the State Bank of Vietnam Dao Minh Tu, in recent times, the banking sector has actively implemented synchronous solutions to promote credit growth, meeting the capital needs for production and business of people and enterprises, including enterprises investing in infrastructure and digital technology. Credit institutions have provided large capital sources for the fields of transport infrastructure, electricity and digital technology, helping enterprises implement projects, contributing to the socio-economic development of the country. "Loans within the framework of this credit package must still ensure credit conditions, not lower standards, but there will be support mechanisms on interest rates, terms, and co-financing mechanisms. The State Bank of Vietnam encourages the expansion of the participation of many banks in the spirit of large banks doing big, small banks doing small. In particular, state-owned commercial banks need to promote their leading role, demonstrating higher responsibility to the economy" - Deputy Governor Dao Minh Tu said.

nld.com.vn

Source: https://baolaocai.vn/500000-ti-dong-cho-vay-dau-tu-ha-tang-cong-nghe-so-post400063.html