The Hanoitimes – The central bank is willing to support liquidity for credit institutions, if needed, as they start providing financial support for the economy. Representatives of banks in Vietnam said they are committed to supporting enterprises and customers hurt by the new coronavirus (nCoV) outbreak, by lowering interest rates and restructuring debt maturities, among other measures, the governmental portal reported. Overview of the meeting. Source: VGP. The move was in response to a proposal by the State Bank of Vietnam (SBV), the country's central bank, in a meeting on February 6 discussing measures to support the economy hit by the epidemic. Vice Governor of the SBV Dao Minh Tu said the bank is willing to support liquidity for commercial banks if needed, while lenders should be proactive in offering respective supporting programs to enterprises and individuals, particularly those operating in the fields of tourism, agriculture and trade. Pham Toan Vuong, vice general director of Agribank, said Agribank is evaluating the extent of damage on its customers, both direct and indirect. The lender has hundreds of millions of US dollars available to provide loans with preferential interest rates for enterprises. Vietcombank's CEO Pham Quang Dung said it is estimated that… Read full this story
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