500 trillion VND credit package: Banks are ready, waiting for specific project list

On October 31, 2025, the State Bank held a meeting to deploy the VND 500,000 billion credit program for lending to invest in infrastructure and digital technology. Deputy Governor of the State Bank Nguyen Ngoc Canh chaired the meeting. Also attending were representatives of the SBV's Departments and Agencies; ministries and branches including the Ministry of Construction, the Ministry of Industry and Trade, the Ministry of Science and Technology and representatives of the leaders of 21 banks (CBs) registered to lend to the program.

Ready resources for deployment

At the meeting, Deputy Governor Nguyen Ngoc Canh said that, implementing the direction of the Government and the Prime Minister in Resolution No. 77/NQ-CP dated April 10, 2025 and Official Dispatch No. 2627/VPCP-KTTH dated March 29, 2025 on researching and developing a preferential credit package of about VND 500 trillion with preferential interest rates for enterprises investing in infrastructure and digital technology to borrow long-term, the SBV has urgently and actively implemented. Accordingly, the SBV has organized 04 meetings with commercial banks and ministries and branches ( Ministry of Construction , Ministry of Industry and Trade, Ministry of Science and Technology); at the same time, there are 02 Official Dispatches sent to 21 commercial banks requesting to register a specific amount of money to participate in the Program; 02 Official Dispatches requesting the Ministries to provide a list and credit capital needs each year and until 2030.

Deputy Governor of the State Bank of Vietnam Nguyen Ngoc Canh speaks at the meeting

Up to now, commercial banks have all reached a high consensus, accompanied and responded to the policies and directions of the Government and the Prime Minister and have registered to participate with a total registered amount of 500 trillion VND. Thus, the banking sector has prepared resources to implement the Program.

More specifically, Deputy Director of the Department of Credit for Economic Sectors Nguyen Xuan Bac said that basically commercial banks agreed to an interest rate 1.5% lower than the amount committed in the Program, however some banks wanted a more suitable interest rate.

Mr. Nguyen Xuan Bac - Deputy Director of the Department of Credit for Economic Sectors at the meeting

However, the representative of the Credit Department also pointed out that there are still some problems in implementing the program, such as the Ministry of Science and Technology has not provided a list of projects participating in the Program; while the list of projects provided by the Ministry of Construction and the Ministry of Industry and Trade is both redundant and insufficient, making it difficult for banks to identify and ensure the right borrowers. In addition, the credit capital needs of important/key projects in the strategic infrastructure sector (transportation, electricity, digital technology) provided by the Ministries have not yet been determined so that commercial banks have a basis to calculate and allocate registered capital on the total scale of the Program of 500 trillion VND. To properly support the focus and key points of this credit program, Mr. Bac proposed the participation of ministries and branches in determining the scope and subjects of key national strategic projects and infrastructure so that commercial banks have a basis to deploy loans.

From a practical perspective, representatives of commercial banks believe that this is an important task, demonstrating the companionship and willingness of the banking system to participate in promoting investment in infrastructure development, digital transformation and innovation. However, in the implementation process, banks still face many difficulties in terms of capital sources, interest rate mechanisms and determining credit needs.

For example, most infrastructure projects, especially those invested in the form of public-private partnerships (PPP), have a very large total investment, with a payback period of up to 15-20 years. Meanwhile, the capital mobilized by banks is mainly short-term, accounting for a relatively large proportion, making ensuring the ratio of short-term capital used for medium- and long-term loans a big challenge.

Representatives of some banks also hope that the State Bank will have a support mechanism related to risk provisioning; not counting some medium and long-term loans under this program in the credit growth limit. In addition, some banks proposed to strengthen the connection between the 500 trillion VND credit program and the National Innovation Fund to partially support interest rates, technology appraisal costs, or credit guarantees for startups and innovative businesses without collateral.

According to bank representatives, these synchronous solutions will help banks be more confident when participating in infrastructure projects, digital transformation and innovation, contributing to promoting sustainable economic growth.

Close coordination between ministries and branches is needed.

Concluding the meeting, Deputy Governor Nguyen Ngoc Canh emphasized that the policy of supporting businesses to invest in infrastructure and digital technology is a major policy of the Party and State.

Meeting scene

Based on the consensus of the delegates attending the meeting, the State Bank will synthesize and report to the Government at the regular Government meeting on the Credit Program for Lending to Invest in Infrastructure and Digital Technology. Regarding the lending subjects, customers are enterprises borrowing long-term capital to invest in key/important national projects in the strategic infrastructure sector (transportation, electricity) provided by the Ministry of Construction and the Ministry of Industry and Trade. Particularly for the strategic technology sector, the lending subjects are projects to produce products on the "List of strategic technologies and national strategic technology products" in Decision 1131/QD-TTg dated June 12, 2025 and must be confirmed by the Ministry of Science and Technology.

Representatives of several ministries and branches contributed opinions at the meeting.

The SBV leaders also requested the Ministries of Industry and Trade, Construction, Science and Technology to closely coordinate with the SBV in the process of implementing the Program; provide guidance and answer recommendations (if any) from commercial banks in case of difficulties or problems related to determining loan objects of the Program.

The Deputy Governor assigned the Department of Credit for Economic Sectors to synthesize the opinions of ministries, banks and units of the State Bank to complete the report to the Government. The Departments and Bureaus under the State Bank are required to closely coordinate with the Department of Credit for Economic Sectors in developing and completing documents guiding commercial banks to implement the Program and handle difficulties and problems (if any). Banks closely follow the direction of the Government, the Prime Minister and the guidance documents of the State Bank to implement the Credit Program for infrastructure investment and digital technology throughout the system. Along with that, based on the list of key projects in the transport, electricity and strategic technology sectors issued by the Ministry of Construction, the Ministry of Industry and Trade, and the Ministry of Science and Technology, to determine the right lending subjects, review and appraise the projects in accordance with the provisions of law.

Source: https://thoibaonganhang.vn/goi-tin-dung-500-nghin-ty-dong-ngan-hang-da-san-sang-cho-danh-muc-du-an-cu-the-172899.html