BIDV offers assistance to individual customers amid coronavirus outbreak

Wednesday, Feb 19, 2020 09:32

Customers at a BIDV branch. — Photo courtesy of BIDV

The Joint Stock Commercial Bank for Investment and Development of Viet Nam (BIDV) has announced a credit package worth VND5 trillion (US$215 million) for its individual customers hurt by the acute respiratory disease caused by novel coronavirus (Covid-19).

The capital is prioritised for customers operating in the fields of agriculture, export and tourism.

Customers are able to take BIDV loans for production and trading of agricultural products such as dragon fruit, watermelon, jack fruit and banana as well as several aquatic products like tra fish.

The package also includes support for operators of restaurants and hotels, while aiding those with trade activities with China.

Under the package, customers will enjoy a stable annual interest rate of 5.5 per cent for a maximum of four months since the first disbursement.

The epidemic could cause losses of $5.9-7.7 billion for the domestic tourism sector in the next three months, according to the Viet Nam National Administration of Tourism (VNAT).

The tourism sector has estimated a 90 per cent decrease in the number of Chinese visitors due to the disease, and a 50-70 per cent drop in holidaymakers from other countries. The number of domestic holidaymakers is also likely to suffer a fall of 50-70 per cent. — VNS


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