Gov’t raises credit support for production households in disadvantaged areas
A production and business household in disadvantaged areas nationwide shall be able to borrow up to 100 million VND (US$4,240) at an interest rate of 9 percent per year.
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This is part of Decision 17/2023/QD-TTg (Decision 17), dated June 5, 2023 on the adjustment of credit for productive business households in disadvantaged areas recently issued by the Prime Minister.
Decision 17 amends somes regulations of Decision 31/2007/QD-TTg, dated March 5, 2007.
Beneficiaries of this policy shall not include poor and near-poor households and they have no outstanding balance at the Bank for Social Policies.
Borrowers must have business plans or projects certified by the local Commune People’s Committees.
Earlier, Decision 31 allows a credit of VND 30 million (US$1,300) at the interest rate of 0.9 percent per month./.
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