Bank and business representatives sign credit contracts in Quang Ninh on Monday. — Photo dddn.com.vn

QUANG NINH (Biz Hub) — Seventy-eight credit contracts were signed on Monday at the State Bank of Viet Nam's (SBV's) branch in northern Quang Ninh Province.

The combined loan amount for these contracts totalled over VND2.7 trillion, or US$128.57 million.

The contracts comprised part of a scheme implemented in May by the SBV and the provincial People's Committee to improve ties between banks and enterprises. Loans for businesses and households participating in this programme had so far totalled some VND20 trillion, or $952.38 million.

As a result, overall credits for these subjects amounted to VND52.67 trillion, or $2.51 billion, at the end of June, accounting for 83 per cent of the total outstanding loans.

In the coming months, local credit institutions will speed up lending processes for agriculture and rural development, as well as adjust interest rates and debt maturity periods to help firms meet challenges effectively, the central bank noted. — VNS