First businesses in Ho Chi Minh City offered loans with zero-percent interest rate to pay salaries for work stoppage

Photo for illustration. (Source: vietnamnet.vn)

The first three businesses in Ho Chi Minh (HCM) city borrowed nearly 1.14 billion VND with interest rate of zero percent to pay salaries of work stoppage for 210 workers.

Mr. Bui Van Son, Deputy Director of VBSP branch in HCM City, said that the unit has approved loans three more businesses. The amount of capital is expected to be disbursed this week is 898 million VND to pay salaries for 210 workers.

At the online conference held on August 17 between VBSP and its branches in localities, the bank’s representative said that as of August 17, 51 disbursed nearly 170 billion VND to help 267 employers pay salaries for 48,737 employees.

VBSP General Director Duong Quyet Thang said that so far, all 63 branches of VBSP in provinces and cities have actively approached and guided employers to complete the preparation for loan documents. In addition, the provinces and cities implementing Directive 16 have received and guided employers to complete the application through the National Public Service Portal.

Currently, the VBSP system has received 308 applications for loans from employers with a total amount of 174.6 billion VND to pay salaries for 50,175 employees. Of which, the bank approved loans for 276 employers with nearly 170.7 billion VND to pay salaries for 49,043 employees./.