Banking sector seeks to remove obstacles facing COVID-19 rescue package
(VOVWORLD) - Vietnam’s banking sector on Wednesday held an online meeting with 63 provinces and cities to seek ways to remove obstacles which have arisen during the implementation of a 12.8 billion USD rescue package for those affected by COVID-19.
The State Bank of Vietnam said low demand for capital due to epidemic has caused bank credit in the first half of April to drop 0.5% compared with the end of March. However, with a rise of 1.3 percent in the first quarter of this year, credit had still increased by 0.8% by mid April compared to 3.2% of the same period last year.
The State Bank Governor said the implementation of the credit support program marks a strenuous effort of the banking sector and promised continued sharing the burden with businesses.