HCMC injects over $531 mln into price stability loans

In 2024, the market stabilization program of credit institutions in Ho Chi Minh City has significantly bolstered local businesses, with a total loan disbursement exceeding VND13.5 trillion ($531.5 million).

This initiative, characterized by low interest rates, has supported 37 businesses, ensuring price stability and meeting the essential needs of the populace, stated the State Bank of Vietnam's Ho Chi Minh City Branch.

Mr. Nguyen Duc Lenh, Deputy Director of the branch, highlighted the positive impact of these funds: "The effective use of this capital by market stabilization enterprises not only facilitates the implementation of the program's mission but also enhances credit efficiency and the capital circulation process. Therefore, the capital turnover is fast and efficient."

Moreover, lending interest rates under this program remain significantly low, averaging approximately 4.3% per year for short-term loans and 7.9% per year for medium and long-term loans.

Mr. Lenh emphasized that these rates, lower than the general market level and comparable terms offered by credit institutions, have provided participating businesses with favorable conditions to reduce or stabilize product costs.