As one of the leading commercial banks in Vietnam, BIDV has actively promoted the interest rate subsidy package following the Government’s Decree No. 31/2022/ND-CP and the State Bank’s Circular No. 03/2022/ TT-NHNN.

Right after Decree No. 31/2022/ND-CP and Circular No. 03/2022/TT-NHNN were issued, BIDV has actively researched customer demand to register for interest rate subsidy limit of VND3,820 billion in 2022 and 2023. Accordingly, on 13 June 2022, the State Bank of Vietnam issued an official document to BIDV to notify its expected interest rate subsidy limit in 2022, which is VND1,060 billion.

BIDV held a conference for implementation of Decree No. 31/2022/ND-CP of the Government and Circular No. 03/2022/TT-NHNN

In order to timely implement the interest rate subsidy package, BIDV issued guidance for the implementation of interest rate subsidy program following Decree No. 31/2022/ND-CP and Circular No. 03/2022/TT- SBV. In addition, BIDV delivered system-wide trainings on interest rate subsidy regulations, solving bottlenecks during the implementation to ensure compliance with regulations of the Government and the State Bank of Vietnam.

Another focus of BIDV is to develop and operate a management program for interest rate subsidized loans, which helps to calculate and implement interest rate subsidy in a transparent and time-saving manner. To promote customer outreach, BIDV communicates publicly and transparently about Decree No. 31/2022/ND-CP and Circular 03/2022/TT-NHNN and actively approaches, advises and provides guidance to customers to complete interest rate subsidy loan applications. As of 30 October 2022, BIDV was one of the most active commercial banks in implementing the interest rate subsidy package, in terms of both interest rate subsidy loan balance and interest rate subsidy amount for customers.

The interest rate subsidy program from the state budget following Decree No. 31/2022/ND-CP and Circular No. 03/2022/TT-NHNN is significant for the recovery and development of Vietnam’s enterprises, cooperatives and business households, highlighting the important role of BIDV in particular and commercial banks in general. BIDV requires its member units to work closely to timely and safely implement the interest rate subsidy program in line with regulations on target customers and loan purposes. In addition, focus should be given to the inspection and supervision of interest rate subsidy loans and communication to customers, ensuring the objectives set by the Government and the State Bank, actively contributing to sustainable economic recovery and growth.

Some information about the interest rate subsidy package from the state budget to enterprises, cooperatives and business households.

- Interest rate subsidized for customers: 2%/year.

- Interest rate subsidy duration: for interest payment obligations at interest payment terms in the period from the date the loan is approved by BIDV for interest rate subsidy until 31 December 2023.

- Interest rate subsidy conditions:

+ Borrowers which are enterprises (including private enterprises according to the law on enterprises), cooperatives, business households.

+ Loans in Vietnam Dong, of which loan agreements are signed and disbursed during the period from 1 January 2022 to 31 December 2023.

+ Purpose of loans falls into one of the sectors specified in Decree No. 31/2022/ND/CP (For example, aviation, transportation and warehousing, tourism, accommodation, catering, education and training, agriculture, forestry and fishery, manufacturing, software publishing, programming and related activities, information service activities, social housing construction, etc.)

+ Customers are assessed having ability to repay and recover according to BIDV’s internal regulations.


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