Consider reducing interest rates and restructuring debt for businesses affected by storm No. 3

The content was sent by the State Bank to credit institutions on September 9. Accordingly, people and businesses in localities affected by storm No. 3 (Quang Ninh, Hai Phong, Hanoi, Lao Cai, Yen Bai...) will be considered for debt restructuring, interest reduction and exemption, and continued new loans. This is to remove difficulties and support people and businesses to restore production and business after the storm.

Banks review, assess damage and report implementation results before September 20.

According to the State Bank, as of September 7, outstanding credit increased by 7.75%. This level is half of the target set by the banking industry at the beginning of the year. Currently, the average interest rate for new loans is 6.23%, down 0.86% compared to the end of 2023.

In addition to the banking sector, the Department of Insurance Management and Supervision (Ministry of Finance) also requested insurance companies to proactively determine damages, make advance payments, compensate and pay insurance money to buyers and beneficiaries affected by storm No. 3.

Cruise ship sunk by Typhoon Yagi at Tuan Chau International Port, Ha Long City (Quang Ninh), September 8

Storm No. 3, the strongest storm in 30 years, made landfall in the Gulf of Tonkin on the morning of September 7, forcing nearly 13,000 households in Hai Phong, Quang Ninh, and Thai Binh to evacuate. Many businesses operating in areas where the storm swept through recorded damage to their facilities. For example, at Ha Long International Passenger Port, many trees and billboards were knocked down, and Wharfs No. 2 and 3 were severely damaged. 90% of the trees in the Sun World Ha Long campus were knocked down, broken, or uprooted.

Quang Ninh Provincial People's Committee reported that as of the afternoon of September 8, 19,500 houses had their roofs blown off, 21 water transport vehicles, 23 tourist boats, 41 fishing boats sank or drifted, more than 1,297 electric poles were broken, and 70% of trees were broken.

In addition to damage to infrastructure, power shortages also affect the process of damage recovery and restoration of operations. According to data from the Northern Power Corporation (EVNNPC), storm No. 3 damaged the medium and low voltage power grid systems in 15 northern provinces and cities. On September 9 - two days after the storm - about 4.2 million customers (equivalent to nearly 74%) had their power restored.

VN (according to VnExpress)

Source: https://baohaiduong.vn/xem-xet-giam-lai-vay-co-cau-no-cho-doanh-nghiep-bi-anh-huong-bao-so-3-392520.html