HCMC – As of the end of June this year, only VND590 billion from the VND40-trillion aid package had been disbursed to nearly 2,100 customers, accounting for 1.5% of the total package, according to the State Bank of Vietnam (SBV).
The Government issued a decree outlining a relief package worth VND40 trillion, offering an interest rate discount of two percentage points for loans to enterprises, cooperatives, and business households, with the goal of assisting them in overcoming post-pandemic challenges. However, the disbursement of the aid package has fallen far short of initial expectations.
A representative of the SBV said that the disbursement of the VND40-trillion aid package is expected to reach a modest amount of VND2,570 billion by the end of this year, equivalent to 6.5% of the total package, adding that with just four months remaining before the aid package’s validity expires, businesses are facing difficulties in accessing over 90% of the remaining aid budget.
The SBV’s leaders attributed the low disbursement to several factors, primarily related to the eligibility of businesses for the aid package. Many businesses have expressed concerns about government inspections and their ability to meet state requirements for financial recovery and debt payment capacities. These concerns have led them to weigh the potential benefits from the aid package against the costs of managing documents and post-inspection procedures.
Source: The SaigonTimes