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Military bank pledges low-cost loans to SMEs

Update: April, 16/2015 - 08:49
Small- and medium-sized enterprises can access preferential loans up to VND20 trillion (US$920 million) from the Viet Nam Military Joint Stock Commercial Bank (MB). — Photo Seatimes

HA NOI  (VNS) — Small- and medium-sized enterprises can access preferential loans up to VND20 trillion (US$920 million) from the Viet Nam Military Joint Stock Commercial Bank (MB).

The programme includes long-term loans in Vietnamese dong and US dollar, and medium-term loans for production and business activities, agricultural and rural projects and infrastructure development.

The interest rate for the loans will fluctuate between 6.9 to 9.5 per cent per year.

Recently, the Viet Nam Bank for Industry and Trade (VietinBank) also committed to give VND2 trillion ($92.6 million) in credit to a number of projects in the northwest, mostly in healthcare, education and defence security. — VNS

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