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The Vietnam Bank for Social Policies (VBSP)’s Binh Duong branch has just signed credit contracts providing interest-free loans for enterprises affected by Covid-19 epidemic to pay salaries for workers at the transaction offices of the VBSP’s branches in Phu Giao district and Di An city.

The VBSP’s branch in Di An city and an enterprise affected by Covid-19 sign a credit contract to pay salaries for employees

Accordingly, the transaction office of the VBSP’s branch in Phu Giao district organized to sign a contract disbursing loans for enterprises to pay salaries for workers who had stop working, due to Covid-19 under the Prime Minister's Decision No. 23/2021/QD-TTg under the witness of leaders of the district’s People's Committee. Particularly, Pham Quoc Du, Director of the VBSP’s transaction office in the district and Nguyen Thanh Tuan, Deputy Director of Thai Son Trading and Service Co., Ltd. signed a credit contract worth VND 517 million for 30 employees who had to stop working, due to Covid-19 pandemic.

In Di An city, Dang Thi Anh Thu, Deputy Director of the VBSP’s branch in Di An city also signed a credit contract worth VND 557 million to support Viet Thuan Processing Manufacturing One-Member Co.Ltd. to pay salaries for 48 workers who had to stop working, due to Covid-19 pandemic, with an interest rate at zero percent per year, within 12 months and an overdue interest rate of 12 percent per year.

According to the Directorate of the VBSP’s  Binh Duong branch, there are now 18 enterprises registering to apply for loans to support 1,012 employees with the amount of VND 11.143 billion. Of that amount, the loan to pay salaries for 297 workers stopping working is more than VND2.65 billion; the loan for employers to pay wages for production recovery is more than VND7.62billion with 650 employees; the loan for salary payment to recover production for employers operating in 5 fields with 65 employees is VND862 million.

Under the Government’s Resolution No. 68 and the Prime Minister’s Decision No. 23, the VBSP’s branches in districts, towns and cities of the province have coordinated with other departments and agencies to speed up dissemination of information about the guideline of the Party and State on loans for employees and employers affected by Covid-19 pandemic to the local companies.

Reported by Tuong Vy-Translated by Kim Tin