Banking sector urgently deploys 500 trillion VND credit package, creating new momentum for economic growth

In his opening speech, Deputy Governor Dao Minh Tu assessed that over the past time, the banking sector has actively implemented synchronous solutions to promote credit growth, meeting the capital needs for production and business of people and businesses in general, as well as businesses investing in infrastructure and digital technology. Credit institutions (CIs) have provided large capital sources for the fields of transport infrastructure, electricity and digital technology, helping businesses implement projects, contributing to the socio-economic development of the country.

Permanent Deputy Governor of the State Bank of Vietnam Dao Minh Tu speaks at the meeting

According to the Deputy Governor, the Government and the Prime Minister always pay attention to and direct ministries and branches to implement solutions to promote infrastructure and digital technology development. Recently, the Prime Minister assigned Deputy Prime Minister Ho Duc Phoc to direct the State Bank to develop a preferential credit package of about 500 trillion VND with preferential interest rates to support businesses investing in infrastructure and digital technology, encourage investment for growth and release social resources. In line with the Government's policy, on April 4, 2025, the State Bank held a technical meeting with commercial banks to discuss the contents of developing this credit program.

Continuing to implement the Prime Minister's direction, the State Bank of Vietnam held a meeting with commercial banks today to discuss and agree on the direction of implementing the credit package to ensure efficiency and substance. Thereby, demonstrating the proactiveness and determination of the banking sector to support businesses and promote economic growth.

At the meeting, the banks all agreed on the policy of implementing a credit package of VND500,000 billion. In fact, currently, banks are participating in financing many key national infrastructure projects. Specifically, Vietcombank has participated in financing the Lao Cai - Vinh Yen Power Transmission Line project, Nhon Trach 3 and 4 Power Plants, and Long Thanh International Airport. Meanwhile, VIB also finances infrastructure projects such as BOT, power generation, and transmission, most recently participating in financing part of the 500kV power line project. VIB representative said that the bank is ready to implement a credit package of VND5,000 - 10,000 billion with preferential interest rates about 1% lower than the normal level, in order to accompany the State's key policies.

Ms. Phung Thi Binh - Deputy General Director of Agribank affirmed that the bank is ready to support businesses, especially in terms of interest rates, but it is necessary to be clear about the responsibility in lending so that banks can confidently implement. 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 be able to participate in supporting businesses in the above fields, especially innovative technology businesses, they should consider building a mechanism for capital contribution and benefit sharing, instead of applying traditional lending methods.

In addition to preparing capital for lending to the above priority customers, banks are proactively implementing early support policies for customers affected by the new US tax policy. In cases that are widely affected, some banks have proposed debt restructuring mechanisms, maintaining the debt group, and simultaneously reducing interest rates and fees to share the difficulties with customers.

Overview of the meeting

Concluding the meeting, the Deputy Governor acknowledged the consensus and positive response from banks to the direction of the Government, the Prime Minister and the State Bank. Regarding the current difficulties and challenges, especially the impact of the new US tax policy, many businesses and key economic sectors are being affected, leading to impacts on workers. Therefore, the implementation of the VND500,000 billion credit package and timely support policies is very urgent, demonstrating the correct policy of the Party, the State and the Government. With that spirit, the banking industry agrees to implement this program in the spirit of "only discuss, not discuss".

The Deputy Governor also noted that banks need to implement this program to achieve real effectiveness and achieve many goals. However, during the implementation process, banks need to harmonize the goals: supporting businesses, promoting capital efficiency but ensuring operational safety. Regarding the lending mechanism in this credit package, the Deputy Governor said that resources from commercial banks will mainly be used. Banks will balance mobilized capital to lend appropriately.

"Loans within the framework of this credit package must still ensure credit conditions, without lowering standards, but there will be support mechanisms for interest rates, terms, co-financing mechanisms... The State Bank encourages the expansion of participation of more banks in the spirit of big 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," the Deputy Governor suggested.

To effectively implement the above credit package, the Standing Deputy Governor of the State Bank of Vietnam requested that in the coming time, commercial banks proactively calculate, balance and allocate resources, and promptly submit documents to register to participate in the Credit Program in accordance with the direction in Official Dispatch No. 2627/VPCP-KTTH.

Banks shall 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 correct lending subjects, review and appraise projects in accordance with the provisions of law.

Regarding lending interest rates, commercial banks proactively determine and publicize the applicable interest rates and interest calculation methods for customers borrowing capital under the Program in each period in the spirit of supporting customers to reduce capital costs in order to contribute to removing obstacles and promoting businesses to invest in infrastructure and digital technology. Regarding the disbursement time of the Program until 2030 or until the disbursement of the entire Credit Program, whichever comes first.

Regarding the preferential application period, banks proactively determine the time to apply preferential interest rates to customers in a balanced and harmonious manner with the loan period to ensure the support nature of the Program. At the same time, banks promote propaganda and widely disseminate policies so that beneficiaries know and participate; Quarterly, report the implementation status of the Program in the previous quarter to the State Bank.

For relevant Departments and Bureaus, the Deputy Governor requested the Department of Credit for Enterprises to send a document to commercial banks to register for participation and the amount of money to participate in the Program according to the direction of the Prime Minister. Monitor and report to the SBV's Board of Directors on the results of the Program implementation. Based on the synthesis of reports from commercial banks and opinions from SBV units, prepare a report to the Prime Minister on the implementation of the Program; Monetary Policy Department: Synthesize and announce lending interest rates and mobilization interest rates of commercial banks in accordance with current regulations...

With the determination of the entire banking industry, the above credit package is expected to contribute to creating a strong driving force for the development of infrastructure and digital technology sectors. At the same time, it contributes to promoting the Vietnamese economy to rise in the context of many global fluctuations.

Source: https://thoibaonganhang.vn/nganh-ngan-hang-khan-truong-trien-khai-goi-tin-dung-500-nghin-ty-dong-tao-dong-luc-moi-cho-tang-truong-kinh-te-162592.html