SMEDF Fund signs cooperation agreement with OCB: Enterprises have more channels to access super preferential capital
The cooperation between the Small and Medium Enterprise Development Fund (SMEDF) and the Orient Commercial Joint Stock Bank will help small and medium enterprises access preferential capital from 1.2% - 4.4%/year.
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| The Small and Medium Enterprise Development Fund (SMEDF) and Orient Commercial Joint Stock Bank (OCB) signed a framework contract for indirect lending to enhance support for small and medium enterprises in accessing preferential capital. |
On the morning of October 15, the Small and Medium Enterprise Development Fund (SMEDF) and the Orient Commercial Joint Stock Bank (OCB) signed a framework contract for indirect lending, aiming to create favorable conditions for small and medium enterprises (SMEs) in Vietnam to access the market's leading preferential capital sources.
In Decision No. 12/QD-HDTV dated October 4, 2023, the Small and Medium Enterprise Development Fund announced the lending interest rates. Accordingly, the short-term lending interest rate is 1.2%/year, the medium-term lending interest rate is 4.4%/year and the long-term lending interest rate is 4.4%.Speaking at the event, Mr. Pham Xuan Kien, Chairman of the Board of Directors of the Small and Medium Enterprise Development Fund, said that SMEs currently account for about 98% of the total number of enterprises in the country, playing an important role in socio-economic development.
The Party and State pay great attention to the development of the SME community and have issued many policies, including the Law on Support for SME and Decree No. 39/2019/ND-CP dated May 10, 2019 of the Government.
SMEDF under the Ministry of Planning and Investment is the unit assigned to implement the State's support policy (according to the Law on Support for Small and Medium Enterprises and Decree No. 39) to the SME community operating in the fields of: creative startups, industry linkages, and value chains.
“The Fund's goal is to further promote capacity building support, disburse loans with preferential interest rates for SMEs to implement production and business plans and projects, so that Vietnamese SMEs can grow stronger, increase their competitiveness, participate more deeply in the global value chain, and contribute more to the country's socio-economic development,” said Mr. Kien.
According to Mr. Chu An Trung, Regional Director, SME Customer Division, OCB Bank, after more than 28 years of construction and development, OCB now has a network of nearly 200 transaction points, with headquarters operating in 48 provinces and cities across the country, making practical contributions to economic and social development, bringing opportunities to access high-quality products and services to customers.
In recent times, although the economy's capital absorption capacity is still weak, banks, including OCB, have made great efforts and implemented many solutions to increase businesses' access to capital and promote credit growth. According to the financial report, OCB's credit growth as of June 30 reached 6.3% - higher than the industry average.
By gradually shifting customer structure, improving competitiveness, accelerating customer service speed, developing the SME segment, offering many practical financial programs and solutions, preferential interest rates, accompanying the development process, production and business, credit for OCB's SME customer group increased by nearly 18%.
In order to provide businesses with an additional channel of loans to develop production and business activities, SMEDF Fund and OCB Bank cooperate to provide financial support solutions to help SMEs overcome difficulties and gradually develop sustainably.
Representatives of the two units expect that the cooperation between SMEDF Fund and OCB Bank, aiming to support weak and capital-deficient SMEs, will contribute to changing the risk appetite of credit institutions, shifting from emphasizing collateral criteria to focusing on assessing the internal capacity of enterprises.
The two sides believe that with the goal of increasing support for the SME community that both sides are aiming for, the cooperation between SMEDF and OCB Bank will become increasingly closer, thereby coordinating the effective deployment of capital to SMEs.
Source: https://baodautu.vn/quy-smedf-ky-ket-hop-tac-voi-ocb-doanh-nghiep-them-kenh-tiep-can-von-sieu-uu-dai-d227479.html
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