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Updated: 2020-05-04 14:09:20

Ready to roll out the new resolution for employers affected by Covid-19 pandemic

In Resolution No. 42/NQ-CP on supporting measures for people affected by the Covid-19 pandemic, Vietnam Bank for Social Policies (VBSP) is assigned to supply the new financial services without collaterals to employers struggling during the outbreak, which aims to ensure the salary payable to employees. Deputy General Director of VBSP Nguyen Duc Hai said that the whole VBSP system has conducted the loan need survey; issued the professional guidance and staff training, ready to roll out the new tasks.

Deputy General Director of VBSP Nguyen Duc Hai 

Loan extension for more than 125 thousand households

- How does the Covid-19 pandemic affect the operation of the VBSP system, sir?

- The Covid-19 pandemic caused the whole world to suffer, of course, including Vietnam. The hardest hit by Covid-19 is always the vulnerable groups. Take a look to 7 groups of Resolution No. 42/NQ-CP, the majority will be VBSP customers which implicates the bad influence on the VBSP system.

In the context of "Fighting the pandemic, means fighting the enemy", VBSP has actively developed strategy and scenario to focus on 2 tasks simultaneously: Effective precaution and monitoring, ensuring safety for staffs and customers; and applying technological solutions, flexibly work from home and at the office. Operation of VBSP is still stable with payment needs handling and disbursements for customers.

During the pandemic, credit activities at commune transaction points in many areas had to be temporarily halted. VBSP actively coordinated with the local authorities, mass organizations and Savings and Credit Group to promptly apply appropriate measures to assist customers.

- The disease affected to VBSP's customers, what are VBSP's supporting measures?

- VBSP has directed VBSP branches in all provinces and cities to regularly update the pandemic situation, and review and assess the damage level of the borrowers to implement measures such as: loan extension, lending term adjustment, additional lending for production recovery, customer’s guideline to application.

From 1 March to 22 April, VBSP has extended loan and adjusted loan term for 125,449 customers with an amount of VND 3,281 billion; supplied new loans and additional loans for 533,394 customers with the amount of VND 19,463 billion.

Promptly meet the capital needs of customers

- What is VBSP’s preparation to meet the loan needs after the pandemic?

- The Covid-19 pandemic occurred at the time of the drought and saltwater intrusion in the Mekong Delta and the damage from hailstorm in the northern mountainous provinces, seriously affecting the residents’ production and business, especially the poor households and policy beneficiaries. Through surveys from localities, the loan demand to restore production and stabilize life is huge. VBSP has actively deployed capital mobilization, delegation and disbursement, timely met the loan needs of the people.

By 22 April, the total capital reached VND 221,618 billion, increased by VND 9,724 billion from 2019. Focusing on mobilization and capital resources exploitation, VBSP has lent to a lot of customers with total outstanding loans are VND 210,853 billion and over 6.5 million active borrowers.

- According to Resolution 42, VBSP is assigned to lend to employers facing financial difficulties without collaterals to pay wages at 0% interest rate for a maximum of 12 months. How does VBSP prepare to implement this task?

- According to the Decision No. 15/2020/QD-TTg dated 24 April 2020, the district People's Committee will evaluate and make the list of the eligible employer and submit to the Chairman of the provincial People's Committee for approval.

After being approved, the customer will make a loan application, submit it directly or online via the National Public Service Portal or by post to VBSP where they are located (for businesses, organizations, cooperatives ...) or where they are resident (for business households and individuals), VBSP will conduct the lending activities on this basis.

With the task of lending to employers to pay a partial salary for stop working employee, VBSP has issued guidance on lending operations and held the online training to our staffs; coordinate with mass organizations in disseminating policies and supervision as a member of the Vietnam Fatherland Front; report to the SBV for lending source preparation; direct VBSP branches to coordinate with the local mass organizations to get ready for rolling out the new tasks, promptly put policies in to practice.

- Thank you Sir!

In order to get a loan according to Decision No. 15/2020/QD-TTg, employers must meet the following criteria: (1) 20% or 30 employees and above participating social insurance and are forced to stop working for 1 month or more; (2) prepayment of at least 50% of salary for stop working employees between 1 April 2020 and 30 June 2020; (3) facing financial difficulties, failing to balance sufficient sources to pay stop working salary, having used the wage reserve fund to pay stop working employees; (4) There was no bad debt at credit institutions and foreign bank's branches as of December 31, 2019.

 Source: daibieunhandan.vn



Poor Households

Lending to poor households 6,6%/year
Lending to poor households in 64 poor districts as stipulated by the Government Resolution No.30a in 2008 3,3%/year

Near Poor Households

Lending to near poor households 7,92%/year


Lending to disadvantaged students 6,6%/year

People in need of loans for job creation

Lending to business establishments owned by war invalids and handicapped persons 3,3%/year


Term Deposit Rate
Overnight 3,04%/year
1 week 3,23%/year
2 week 3,5%/year