Promoting the credit programs to support workers

​Transaction activities at a commercial bank in Bien Hoa City. (Illustrated photo) 

Many banks in the province have been applying the preferential loan programs to support the workers, deploying the interest-free loan packages to pay salaries to the workers, etc. The representative of the Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) - the Bien Hoa Industrial Zone Branch said, in addition to the interest rate reduction program for customers and enteprises affected by the Covid-19 epidemic, in the past time, the branch has also implemented the preferential credit packages and support towards the workers. In particular, the branch has cooperated with the Trade Union of the Changshin Vietnam Co., Ltd (Vinh Cuu District) to deploy a preferential loan package for the company's employees. The company has compiled a list of staffs, employees and workers of the company who meet the relevant conditions and have working experience of 2 years or more, etc. for the bank to consider and apply the consuming loan package with the preferential interest rate of about 8.5% per year.

The number of the enterprises has been suspended their operations because of the impact of the Covid-19 epidemic, the medical isolation and social distancing, so many employees had to stop working. Therefore, the Government had issued the Resolution No. 68/NQ-CP dated July 01, 2021 and the Decision No. 23/QĐ-CP dated July 07, 2021 on stipulating that businesses will be able to borrow the capital at the interest rates of 0 % at the Vietnam Bank for Social Policies (VBSP) to pay the stoppage salary for employees and borrow the capital to pay the salaries when restoring the production and business.

Mr. Nguyen Duc Hai, Deputy General Director of the Vietnam Bank for Social Policies (VBSP) and Director of the Vietnam Bank for Social Policies (VBSP) - Branch of Dong Nai Province, said that the Vietnam Bank for Social Policies (VBSP) - Branch of Dong Nai Province has actively promoted the above policy propaganda and coordinated with relevant stakeholders to review and implement the contents and procedures of lending for the loan package with 0% interest rate to pay the stoppage salary for employees and borrow the capital to pay the salaries when restoring the production and business.

As of September 17, the Vietnam Bank for Social Policies (VBSP) - Branch of Dong Nai Province has disbursed to 12 enterprises and organizations with more than 1,4 thousand employees and a loan amount of more than VND6.5 billion. In which, 8 enterprises and organizations has submitted the dossiers through the National Public Service Portal with a loan amount of about VND3.3 billion.

The Trade Unions of many enterprises have actively connected with the banks and credit institutions to deploy the credit support activities for the employees during the implemention period of the social distancing, especially the enterprises that are temporarily suspending the operations for the prevention and control of the Covid-19 epidemic. The support packages to reduce the loan interest, suspend debt collection, etc. have contributed to helping many employees overcome the difficulties due to the impact of the Covid-19 epidemic.

Mr. Dinh Sy Phuc, Chairman of the Trade Union of the Taekwang Vina Industrial Joint Stock Company (Bien Hoa II Industrial Zone) shared, many credit support programs for employees are still being applied by the company's union. In which, the Trade Union has supported the loans with 0% interest rate and paid in installments over 10 months for difficult employees. Especially, during the current epidemic period, the Company's Union has temporarily stopped collecting the debts and delayed the repayment period until the normal production. When the employees have a salary and normal income, the deduction will be made. The company has also guaranteed for the employees to borrow the capital from banks and pay gradually through salary with the preferential interest rates. The company has proposed the bank to temporarily stop collecting debts, extend the debts for the employees during the current period due to the impact of the epidemic and the interrupted production.

                                                                                             Phan Anh