Preferential loan package of 1,400 billion VND for non-public kindergartens and primary schools
The Prime Minister has just issued a decision on credit for non-public preschool and primary schools affected by the Covid-19 pandemic with a maximum loan capital of VND1,400 billion.
Accordingly, the loan recipients are:preschool education facilitiesNon-public primary schools include: independent nursery groups, independent kindergarten classes, independent preschool classes of the private and non-public type (hereinafter referred to as independent private and non-public preschool educational institutions); nurseries, kindergartens, preschools of the private and non-public type (hereinafter referred to as private and non-public preschools); private primary schools.
Borrowers must meet the following conditions: Established and operating in accordance with the provisions of law; Must stop operations according to Covid-19 prevention and control requirements for at least 1 month before the time of borrowing; Have a loan plan to restore and maintain operations and be appraised by the Vietnam Bank for Social Policies; At the time of loan application, there must be no bad debts at credit institutions and foreign bank branches arising before January 23, 2020.
If all conditions are met, the Social Policy Bank will make direct loans to borrowers.
According to this decision, the loan capital will be used to repair facilities; purchase medical equipment and supplies to prevent the Covid-19 epidemic; purchase equipment for nurturing, caring, and educating to restore and maintain operations.
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| Recently, many kindergartens in the province had to close due to the Covid-19 epidemic. Photo courtesy of My Ha |
The maximum loan amount is 80 million VND/private, independent preschool; maximum 200 million VND/private, independent preschool, private primary school.
The specific loan amount for each case is determined by the Social Policy Bank based on the loan plan.
Maximum loan term is 36 months. Loan interest rate is 3.3%/year.
Borrowers do not have to provide loan guarantees for loans up to 100 million VND. However, for loans over 100 million VND, they must provide loan guarantees according to the regulations of the Social Policy Bank.
The maximum loan capital under this Decision is VND 1,400 billion from the issuance of Government-guaranteed bonds of the Vietnam Bank for Social Policies. The disbursement period of the loan capital shall not exceed December 31, 2023 or the end of the loan capital, whichever comes first.
This decision takes effect from April 27.
The Decision also clearly states that agencies, organizations and individuals who take advantage of the policies prescribed in this Decision for personal gain or violate the law shall, depending on the nature and severity of the violation, be subject to compensation, disciplinary action, administrative sanctions or criminal prosecution in accordance with the provisions of law./.
