Fifteen companies situated in HCM City's processing zones and industrial parks have got total bank loans of nearly VND1.2 trillion (US$54 million) at preferential interest rates under a programme initiated by the central bank and the Government. — VNA/VNS Photo

HCM CITY (Biz Hub) —  Fifteen companies situated in HCM City's processing zones and industrial parks have got total bank loans of nearly VND1.2 trillion (US$54 million) at preferential interest rates under a programme initiated by the central bank and the Government.

The State Bank of Viet Nam's HCM City branch in collaboration with the Department of Industry and Trade and the HCM City Export Processing and Industrial Zone Authority (Hepza) organised a ceremony to sign credit contracts between companies and banks at Hepza on Tuesday.

Around VND5.5 trillion ($246.6 million) has been lent to 562 enterprises under the programme this year, Nguyen Hoang Minh, deputy director of the SBV's HCM City branch, said.

The banking – enterprises linkage programme was instituted four years ago to ease the funding and interest difficulties faced by companies based in the city, he said.

As of May 31 this year around VND93.17 trillion ($4.17 billion) has been disbursed, with a maximum interest rate of 7 per cent for short-term loans and around 9 per cent for medium- and long-term loans, he said.

Through the rest of this year the SBV would continue to co-operate with the department and Hepza to promote the programme to enable more businesses to get loans, he said.

He said this year 16 banks have pledged to earmark VND211.548 billion ($9.48 billion) and $15 million to provide preferential loans to small and medium-sized enterprises and firms in supporting industries, agriculture, and the city's price stabilisation programme. —  VNS