HTML clipboard Statistics
indicates that the outstanding amount of interest-free loans under the Decision
no. 131 totals VND12.153 trillion and the amount of funded interest is VND173
billion. Short-term loans account for 50.6% of outstanding short-term loans. As
for interest-free medium-and-long-term loans under the Decision no. 443,
outstanding loans total VND354 billion and the amount of funded interest is over
VND2.4 billion.
In terms of
interest-free loans for agriculture, farmers and rural areas, according to the
Decision no. 497, VND2.5 billion has been disbursed and gone to 56 clients in
Dong Nai province. Particularly, Bank for Agriculture and Rural Development, Dai
A Bank and Nhon Trach Branch of Vietin Bank have made loans of VND2.12 billion,
VND340 million and VND40 million respectively.
Interest-free
loans under the Decision no. 579 total nearly VND127 billion and the amount of
funded interest is nearly VND400 million.
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Tran
Quoc Tuan presents a report at the inspection meeting |
Interest-free
loan policy helps loan seekers get an easier bank loan approach for production
and business activities. Thanks to this policy, banks can expand credit and
achieve a higher credit growth rate. Until July 31, 2009, the total capital
raised by credit institutions in Dong Nai is VND33.856 trillion, up 21.11%.
Outstanding loans total VND34.254 trillion, up 26.38% compared to early 2009,
attaining plan goals.
In an
evaluation of the benefits of interest-free loan policy towards the banks and
beneficiaries, Mr. Tran Quoc Tuan – President of Dong Nai Branch of the State
Bank said that the mechanism for interest-free loans has made positive changes
to production and business activity of businesses and business-owning
households to help cut loan costs to large-sized enterprises and
medium-and-small-sized enterprises by 40% and 36% respectively, contribute to
lowering the cost price by 3% to 4%, boost product consumption, reduce stock,
accelerate capital rotation, shorten the repayment period for outstanding loans
of credit contracts with a high interest rate from 14% to 18% per year or even
21% per year, which were signed in 2008 and contribute to maintaining a low
interest rate on the market compared to the basic interest rate of the State
Bank. Up to now, most of businesses and business-owning households have earned a
maximum interest rate of 10.5% per year.
However,
problems still exist. For example, it is slow to implement the third demand
stimulus package mainly because a number of provisions in the Document no. 4116/BTC-TTN
by Ministry of Trade and Industry are not in accordance with reality. That there
has been a variety of loan receivers leads to an increase in interest-free loans
under the Decisions no. 131 and no. 443 and holds back the growth of loans under
the Decision no. 497.
(Reported by N. Thuong,
Translated by Duy Minh)