Quang Ninh disburses loans to 1,620 households to restore production

Many households affected by storm No. 3 will use the funds to overcome the damage and restore production and business.

After overcoming storm No. 3, VBSP Quang Ninh Provincial Branch promptly disbursed policy capital to help local people restore production and business.

The branch will continue to focus capital resources to prioritize loan disbursement for households, areas and localities affected by the storm to ensure full satisfaction of demand. In addition, the branch will also extend debt and adjust repayment terms for loans due from September 2024. The maximum normal term is 12 months for short-term loans and a maximum of 1/2 of the loan term for medium and long-term loans.

In order to facilitate VBSP to promptly support households affected by the storm, the People's Committee of Quang Ninh province has assigned departments and branches to preside over and coordinate in developing and promptly completing the draft Resolution on loan interest rate support and additional lending policies at VBSP Quang Ninh branch.

According to the report, there are currently 12,709 households damaged by storm No. 3 in Quang Ninh province taking loans with a total outstanding debt of VND 741 billion. For these households, VBSP Quang Ninh Branch will temporarily stop collecting interest until December 31, 2024./.