A VBSP representative in Lang Son province signed a credit contract with Mai Linh Lang Son Technology Transportation Company Limited. (Photo: VietnamPlus)
Hanoi (VNA) - As of July 26, the Vietnam Bank for Social Policies (VBSP) had approved loans worth over 45 billion VND for 39 employers, serving salary payment for over 12,000 employees.
Only 14 days after the Prime Minister's Decision No. 23/2021/QD-TTg issued on July 7 took effect, an increasing number of credit contracts to pay salary for employees’ work suspension and production resumption have been sealed daily, in contribution to supporting employers and employees to overcome difficulties caused by the COVID-19 epidemic and maintain production.
The Mai Linh Lang Son Technology Transportation Company Limited was among the first in the nation to secure such contracts. Director of the company Nong Thi Van said the pandemic has adversely impacted the operation of the firm, causing lower incomes and job losses.
According to Van, prompt support from the Lang Son branch of the VBSP has helped the company access a zero-interest credit package worth 92.6 million VND to pay salaries for its nine workers. The loan term is 12 months and does not need collateral. Such incentives have assisted the business in its production recovery over the last six months of 2021, ensuring incomes and stabilising the lives for its employees
Excited to hear that her company has signed a credit contract, Chu Phuong Khanh, an employee of the Lang Son Pride tourism and trading one member limited liability company, said “The capital helps not only the company reduce the pressure of covering operating costs, maintain operations and restore production, but also our employees obtain more stable incomes for their daily lives.”
🦂 Deputy Director of the Lang Son branch of the VBSP Pham Manh Ha said that up to now, the bank has received applications from 17 business units wishing to borrow money to pay wages for employees after work contract termination and for production restoration. Accordingly, 213 employees had to stop working and the amount of loan request is 1.754 trillion VND.
On the afternoon of July 27, the Bac Giang branch of the VBSP signed credit contracts and disbursed capital for two enterprises, Bac Giang LGG Garment Corporation JSC (13.5 billion VND) and BGG Lang Giang Garment JSC (5.5 billion VND). (Photo: VietnamPlus)
To date, all 63 branches of the VBSP in provinces and cities across the nation together with the corresponding local authorities have received applications, reviewed and assessed them for the signing of the credit contracts.
Nguyen Phuong Nam, Vice Chairman of the People's Committee of Quy Nhon city in Binh Dinh province, said that in the spirit of implementing a convenient and fast lending policy, the provincial branch of the bank has introduced the policy to all of its transaction points across the province.
The branch has so far received applications for loans valued at more than 8.2 billion VND from 19 businesses to pay salaries for 982 employees. It has has signed credit contracts with nine businesses and educational institutions who borrowed more than 2.6 billion VND to pay for 395 workers.
As for Bac Giang - a locality that used to be a "hotspot" during the fourth COVID-19 wave with hundreds of businesses and production facilities having to temporarily suspend operations in May and June, the local authorities have issued a plan and established a council to assess the applications of organisations and individuals requesting assistance according to Resolution 68 and Decision 23 of the Prime Minister regarding the implementation of a number of policies to support workers and employers facing difficulties due to the COVID-19 pandemic in the province.
As of July 27, in Bac Giang province, 49 enterprises were instructed to prepare loan documents to pay salaries for employees, and 13 enterprises completed their dossiers and submitted them to the provincial branch of the Vietnam Bank for Social Policies for approval. loans to pay salaries for over 13,000 employees, with a total loan amount of more than 44 billion VND. Among them, the branch has approved four businesses to borrow loans to pay July salaries for more than 6,000 employees, with the amount of 21 billion VND.
As of July 27, the provincial branch of the VBSP had approved the loan requests worth 21 billion VND from four businesses serving salary payment of more than 6,000 employees.
ꦺ As of July 26, the Vietnam Bank for Social Policies (VBSP) had approved loans worth over 45 billion VND for 39 employers, serving salary payment for over 12,000 employees, according to Decision 23 of the Prime Minister. The total amount disbursed by the bank was 43 billion VND./.
