Banks consider reducing interest rates for people affected by storm No. 2

The State Bank requires credit institutions and State Bank branches in the following provinces and cities: Ha Giang, Lao Cai, Yen Bai, Cao Bang, Bac Kan, Son La, Hoa Binh, Phu Tho, Hanoi, Ha Nam, Nam Dinh, Ninh Binh, Thanh Hoa, Nghe An, Ha Tinh, Quang Binh, Quang Tri to immediately support people to overcome the consequences caused by storm No. 2.

To support people to overcome difficulties and restore production after the storm, the State Bank requires credit institutions to direct branches and transaction offices to proactively review and summarize the losses of customers who are borrowing capital and, based on the customers' ability to repay debts, promptly apply support measures and remove difficulties for customers such as: restructuring debt repayment terms, considering interest exemption and reduction, providing new loans so that customers can continue to maintain and stabilize production; at the same time, implement debt settlement measures according to the provisions of Decree No. 55/2015/ND-CP; Circular No. 10/2015/TT-NHNN and Decision No. 50/2010/QD-TTg.

Over 1,000 hectares of rubber in Nghe An were damaged by storm No. 2. People are heartbroken over rubber plantations that have been broken by the storm for over a week now but have yet to find a solution. Photo: Quang An

» Farmers cry when cutting rubber trees to sell firewood after storm number 2

In addition, strengthen social security work, provide direct support to affected families, especially poor households, policy households, and ethnic minority households to encourage people to overcome difficulties and restore production.

The State Bank branches in provinces and cities are the focal points to direct credit institutions in the area to deploy support work to overcome damage; direct the synthesis of damage data and coordinate with relevant departments and branches to advise the provincial People's Committee to report to the Prime Minister (through the State Bank of Vietnam and the Ministry of Finance) to carry out debt settlement steps according to the provisions of Decree No. 55/2015/ND-CP of the Government and Circular No. 10/2015/TT-NHNN.

Periodically on the 10th of each month (starting from August 2017), the State Bank branches in provinces and cities report to the State Bank of Vietnam (through the Department of Credit for Economic Sectors - 25 Ly Thuong Kiet) on the progress and results of implementing solutions to support people to overcome the consequences caused by storm No. 2.

According to Diem Co/chinhphu.vn