More than 3,200 preschools and primary schools and more than 12,300 independent preschools benefit from the policy with a loan term of 36 months. Photo sggp.org.vn

The Government has recently issued Decision No.11/2022/QD-TTg of the Prime Minister on support for non-public preschool and primary educational institutions affected by the COVID-19 pandemic. Deputy Minister of Education and Training Ngô Thị Minh talks to Sài Gòn Giải Phóng (Liberated Sài Gòn) newspaper about the decision.

What does this decision mean for schools affected by the pandemic?

The education sector suffered many impacts and damage over the past two years due to the COVID-19 pandemic. Of which, non-public preschool and primary schools took the strongest hit. To remove difficulties for these educational institutions, the National Assembly issued Resolution No.43/2022/QH15 on fiscal and monetary policies to support the programme of socio-economic recovery and development, including a preferential credit package of VNĐ1.4 trillion (US$61.1 million) for non-public preschool and primary educational institutions that had to halt operations for at least a month under the requirements of COVID-19 prevention and control to resume teaching activities after the COVID-19 pandemic.

Decision No.11/2022/QD-TTg of the Prime Minister was issued, helping educational institutions restore operations and adapt to the situation of the COVID-19 pandemic in the current period - when kindergartens have reopened nationwide, contributing to ensuring the quality of preschool education. According to this decision, more than 3,200 preschools and primary schools and more than 12,300 independent preschools benefit from the policy with a loan term of 36 months. The interest rate of 3.3 per cent per annum or 0.27 per cent per month is the highest preferential interest rate for organisations borrowing money at the Vietnam Bank for Social Policies (VBSP).

How will the Ministry of Education and Training implement the decision?

The VNĐ1.4 trillion support package would be lent to non-public preschool and primary educational institutions. The maximum loan is VNĐ80 million ($3,499) for people-funded and private independent preschool educational institutions and VNĐ200 million ($8,749) for people-funded and private preschools and primary schools.

As for the loan procedure, no collateral is required for a loan of less than VNĐ100 million. Collateral is needed for a loan from VNĐ100 million-VNĐ200 million, and the VBSP will provide specific guidance about collateral. The loan procedure is simple with verification of commune-level People's Committees. It will take 5-7 days after the date of receipt for the loan application to be processed. The loan is used to repair facilities, purchase medical equipment and supplies for COVID-19 prevention and control, and other equipment to restore and maintain activities.

How will the ministry support teachers?

The COVID-19 pandemic has had heavy impacts on education over the past two years. According to statistics, about 103,896 teachers of non-public preschool and primary educational institutions were affected by the pandemic. Of which, there were 101,845 preschool teachers. Besides the policy on preferential loans to support non-public preschool and primary educational institutions, the Ministry of Education and Training has also been coordinating with the Ministry of Finance to submit to the Prime Minister additional support policies for teachers working at non-public preschools and primary schools who have not yet received support. The expected support level is about VNĐ3.7 million ($161.58) per teacher. — VNS