HDBank will spend  $9.5 million to offer loans at an interest rate of 6 per cent a year to companies that directly participate in the programme and for the Lunar New Year holiday in 2015.— VNS Photo

HCM CITY (Biz Hub) — HDBank, one of the first commercial banks in Viet Nam, on March 27 announced that it would offer VND1 trillion (US$47.6 million) to support companies taking part in HCM City's price stabilisation programme in 2014.

The bank will spend VND200 billion ($9.5 million) to offer loans at an interest rate of 6 per cent a year to companies that directly participate in the programme and for the Lunar New Year holiday in 2015.

The other VND800 billion ($38.1 million) will be used for 8 per cent loans to suppliers of the companies in the programme.

The maximum time for both kinds of loans is four months and the duration of this support programme is one year from the first day of April to the end of March 2015.

The price stabilisation programme was first organised in HCM City 12 years ago and has proven successful.

This is the second year that the programme has received support from banks, which are offering special interest rates on loans.

This year, the banks committed to offer a total of VND8.1 trillion ($386 million) in loans to participants involved in the programme.— VNS