SBV to revise law to help businesses in capital difficulties

The State Bank of Vietnam will make it easier for credit institutions to support customers affected by the COVID-19 pandemic, according to a recent conference in Khanh Hoa province to connect banks and businesses.

Nguyen Thi Hong, the Central Bank’s Deputy Governor, said Vietnam has entered a ‘new normal’ period that is focused on economic recovery.

The banking industry will continue flexible monetary, interest rate, and exchange rate policies to help credit institutions stabilize and will reduce lending interest rates to help enterprises restore production and sales.

“The banking industry will ensure sufficient capital for credit institutions. We can’t say exactly when the COVID-19 pandemic will end, so this adjustment is needed to resolve difficulties for businesses. We will keep a close watch on the pandemic and make appropriate adjustments,” said Hong.

 

 

 

Source: VOV5

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