BIDV introduces credit packages for startups, micro enterprises

Bank's preferential credit packages worth a total of more than $132 million.

The Bank for Investment and Development of Vietnam (BIDV) launched preferential credit programs in mid-May worth a total of VND3 trillion ($132.1 million) for startups and micro enterprises, the bank has announced.

VND2 trillion ($88 million) and VND1 trillion ($44 million) preferential credit packages have been designed for startup companies and micro enterprises, respectively.

Startups can be provided with short-, medium-, and long-term loans from the package while micro enterprises can access short-term loans only.

The programs include annual interest rates 1-1.5 per cent per annum lower than normal loans.

by Long Van / VET