SHB offers stimulus package for firms hit by coronavirus

Wednesday, Feb 26, 2020 15:02

Local lender SHB has released a stimulus package that aims to support local producers amid the spread of the coronavirus and its impact on the global economy. — Photo

Sai Gon-Ha Noi Joint Stock Commercial Bank (SHB) on Tuesday announced a stimulus package worth VND3 trillion (US$129.3 million) to support local companies amid the spread of coronavirus (COVID-19).

The bank offers low interest rates for new loans and slashes the current rates for outstanding debts on the evaluation of the business operation amid the epidemic.

Interest rates will be cut by maximum 1.5 percentage points per annum for current dong-based loans and 0.5 percentage point per annum for dollar-based loans.

Other incentives include debt restructuring and discounts for prepayments.

The bank’s general director Nguyen Van Le said SHB is ready to help businesses ease financial burdens caused by the epidemic and boost their production.

SHB has previously worked with Amazon to connect local companies with international businesses to help them seek new business opportunities in overseas markets.

The bank will soon launch products and services for individuals and companies that are interested in selling outputs on Amazon’s e-commerce platform.

It is expected to introduce Vietnamese products to more than 300 million users worldwide through the platform. — VNS

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