Support after the storm

- Storm No. 11 has left behind serious consequences, causing great damage to people's property. In the face of this situation, banks have proactively implemented many solutions to accompany people to overcome the damage, stabilize their lives and restore production.

Staff of the Binh Gia Social Policy Bank Transaction Office disburse loans in Hoa Tham commune

According to preliminary statistics of the State Bank of Vietnam (SBV) Region 5, due to the impact of storms and floods, the whole province has 13,292 bank loan customers affected with outstanding loans of over VND 2,800 billion. In this situation, SBV Region 5 has deployed to credit institution branches in the area to implement the direction of the central government and the province on solutions to ensure safety, respond to storms and floods and implement policies to support customers to overcome the consequences caused by storms and floods.

At the Vietnam Bank for Agriculture and Rural Development, Lang Son Branch ( Agribank Lang Son), after review, the entire branch has 1,676 customers with a total outstanding debt of 885 billion VND affected.

Mr. Nguyen Hong Duc, Director of Agribank Lang Son , said: Agribank Lang Son has directed the type II branch to compile statistics on loan customers affected by storm No. 11 to have timely support measures such as: considering new loans, restructuring repayment terms, exempting and reducing interest and fees. Accordingly, based on the level of damage of customers, Agribank reduces the loan interest rate by 0.5% - 2%/year, does not collect late payment interest, adjusts the overdue interest rate to the loan interest rate in the period from October 1 to December 31, 2025, for existing customers; reduces the loan interest rate by 0.5%/year at the time of disbursement for new loan customers from October 1 to December 31, 2025. Currently, the branch has reduced the current loan interest rate by 0.5%/year, does not collect late payment interest and adjusts the overdue interest rate to 100% of the loan interest rate within the term for 1,205 customers, with an outstanding debt of VND 806 billion.

Not only Agribank Lang Son, to accompany and support customers to overcome the difficult period and soon stabilize their lives, banks have proactively coordinated with authorities at all levels to synthesize and determine the level of damage of customers affected by storms and floods to implement support solutions in accordance with regulations such as: restructuring debt repayment terms, exempting and reducing loan interest rates, lowering interest rates, providing new loans to restore production and business with preferential interest rates (reducing interest rates from 0.5-2%/year)...

Mr. Phan Anh Thang, Deputy Director of the Provincial Branch of the Vietnam Bank for Social Policies (VBSP), said: According to preliminary statistics, the whole province currently has 12,600 customers borrowing capital from the VBSP affected by storms and floods, with a total outstanding debt of about 940 billion VND. In order to promptly support people to overcome the consequences and stabilize production, the unit has directed transaction offices to closely coordinate with the People's Committees of communes, wards and socio-political organizations to receive the mandate, review, count and summarize the damage of customers to submit to competent authorities for consideration and handling of risks according to regulations. At the same time, the unit synthesizes the new loan needs of households and individuals affected by storm No. 11, reports to the Central VBSP and the Provincial People's Committee for consideration and arrangement of additional capital sources, promptly meeting the loan needs to restore production. In the immediate future, the Branch will prioritize transferring and using the recovered capital to allocate to communes and areas heavily affected by storms and floods, helping people have capital to restore production and stabilize their lives.

Mr. Trieu Van Thang, Trang village, Yen Binh commune shared: My family's economic development comes from pig farming and forest planting. Recently, due to the impact of storm No. 11, the pigs were swept away, many acacia and eucalyptus trees were flooded, uprooted, damaged, the total damage is estimated at more than 100 million VND. While facing difficulties and lacking capital to restore production, I received a loan of 100 million VND from the Huu Lung Social Policy Bank Transaction Office to invest in buying pig breeds and planting additional acacia and eucalyptus trees. Thanks to this capital, my family has the conditions to continue production, gradually overcoming the difficult period.

Mr. Le Quang Huy, Director of the State Bank of Vietnam Region 5 said: To continue supporting customers affected by storms and floods, in the coming time, we will continue to direct credit institution branches in the area to seriously and fully implement solutions and tasks under the direction of the Government, the State Bank of Vietnam and the province. In addition, we request banks to continue to review and summarize the damage of loan customers; guide customers affected by storms and floods to complete documents and procedures to promptly apply support measures and remove difficulties for customers.

The flexible and timely support solutions of banks in the province after the storm have been and are contributing significantly to helping customers gradually rise up. When credit capital is cleared, people have a solid foundation to rebuild production, towards a stable future and sustainable development.

Source: https://baolangson.vn/diem-tua-sau-bao-5063953.html