New Ling Rate for State Investment, Export Credits Launched
The Vietnamese Ministry of Finance has issued a decision stipulating the ling interest rates applied for state investment and export credits and support for interest rate difference, the government website said July 1.
Under the decision, ling rates will be 12% per annum for dong credits and 7.8% for those in free convertible foreign currencies. Rates for export credits in dong are ruled at 14.4% and in foreign currencies at 7.8% per annum.
The interest rate difference to support post-investment for projects financed in Vietnam dong and U.S. dollars is 3.9% and 0.96%, respectively, per annum.
Regarding infrastructure projects in rural and severely disadvantaged areas or communes under the national poverty reduction program (Program 135), the states ling rate of investment credit will be lower 0.6% per annum applied on both dong and U.S. dollar loans.
Uncompleted disbursement of investment and export borrowing contracts signed prior to the day the decision takes effect will be valid with the interest rate recorded in those contracts. (Vietnam Economic Times, chinhphu.vn)
Vietnamese
