The 02% interest rate support package has only implemented 681 billion VND.

Specifically, by the end of July 2023, interest support sales reached nearly 140,000 billion VND, outstanding interest support loans reached more than 56,000 billion VND for nearly 2,100 customers.

The State Bank estimates that by the end of this year, the amount of 2%/year interest rate support from the state budget of 40,000 billion VND is expected to only reach about 2,570 billion VND.

Thus, the implementation of Decree No. 31/2022/ND-CP of the Government on supporting interest rates of 2%/year from the state budget with 40,000 billion VND applied from 2022 has not achieved expectations.

According to the Ministry of Planning and Investment , the main reason for the slow disbursement of this support package is the fear of inspection and examination, considering the benefits of the 2% interest rate support and the costs incurred when receiving interest rate support such as monitoring records, documents, complying with inspection and examination procedures; difficulty in assessing the ability to "recover" in the context of the world and domestic economy still having many risky and uncertain factors; the socio-economic situation has changed compared to the time of policy issuance, so the support needs of businesses have changed, etc.

The State Bank has also sent a document to the Ministry of Planning and Investment on the results of the implementation of this program to have a basis for developing a plan to propose to competent authorities to adjust the task of spending on unused interest rate support to other forms and support policies that are feasible and have room for implementation.

The State Bank of Vietnam requires credit institutions to continue promoting interest rate support loans according to Decree No. 31.

While the policy credit package is disbursed slowly, the VND120,000 billion commercial credit package for social housing loans is being implemented better. Currently, 12 localities have announced a list of 25 eligible projects with a loan demand of more than VND13,000 billion.

Of which, Binh Duong has 4 projects with a loan demand of 1,181 billion VND, Bac Ninh has 6 projects with a loan demand of 3,381.33 billion VND, Bac Giang has 1 project with a loan demand of 1,838.6 billion VND.

In addition, the Department of Construction of localities has reviewed the documents and submitted them to the Provincial People's Committee for consideration, such as Ho Chi Minh City (6 projects, loan demand of about 2,776.6 billion VND), Binh Dinh (6 projects, loan demand of 1,832 billion VND)...

In addition, the VND15,000 billion credit package for forestry and fishery products has also been actively disbursed. By August 10, after 20 days of implementation, banks had disbursed nearly VND800 billion of this credit package.

According to nhandan.vn

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