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Vietcombank branch in Bắc Giang to support startups

Update: March, 03/2017 - 16:00
Representative of the Bắc Giang Province’s Department of Planning and Investment and a leader of Vietcombank Bắc Giang branch (first row, right) signed co-operation agreement. — Photo
Viet Nam News

HÀ NỘI — A branch of the Bank for Foreign Trade of Việt Nam (Vietcombank) in the northern province of Bắc Giang has committed to set aside a credit package to support startups.

The package, worth VNĐ1 trillion (US$44.4 million), is offered under a cooperation agreement signed between Vietcombank Bắc Giang and the provincial Department of Planning and Investment on Wednesday.

Under the agreement, the department will link the bank with customers planning new investment projects and seeking loans.

Short-term loans will be provided with interest rate of 7 per cent per year, while medium and long-term loans will have interest rates starting from 8 per cent per year.

The bank has promised to help clients by disbursing capital in a convenient way.

It will also actively participate in economic forums, investment conferences and dialogues with enterprises organised by the department and give firms advice on how to access loans and use banking services efficiently.

After signing with the department, Vietcombank Bắc Giang also inked cooperation deals with several startups that were recently established this year and some companies launching new projects in the locality.

Nguyễn Văn Linh, chairman of the provincial People’s Committee, said he hoped the two sides would fulfill their commitments well so that the cooperation agreement provided considerable support to enterprises. — VNS


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