Domestically-invested BAC A BANK is extending a preferential loan package from the Rural Development Fund II (RDFII) to support lives and business in rural areas.
With a view to boosting socioeconomic development, improving rural livelihoods, enhancing banking capacity and access to financial services for the public and small- and medium-sized enterprises (SMEs), BAC A BANK has signed a re-financing contract with state-owned Bank for Investment and Development of Vietnam (BIDV) on capital from the Rural Development Fund II (RDFII) financed by the World Bank.
Accordingly, BAC A BANK has become a member to provide the RDFII’s loans to SMEs.
|BAC A BANK is offering a preferential loan package from the Rural Development Fund II (RDFII) |
The RDFII is aimed to support rural economic development and rural people’s lives by encouraging investment among families and private enterprises, with medium- and long-term loans while strengthening the capacity of the banking system.
Many customers who have obtained loans from the RDFII said that the loans have helped them a lot in their business and production, helping them avoid black credit in rural areas.
Proving small-scale projects nationwide, except for those in the inner cities of Hanoi, Danang, Haiphong, and Ho Chi Minh City, BAC A BANK has once again confirmed its non-stop efforts to maximise customers’ benefits. Attractively, the loan is worth up to 75 per cent of the project’s total investment capital, and the maximum loan is VND2.3 billion ($100,000) for each project.
BAC A BANK provides assorted loans used for investing in transportation means in service for business and production activities in rural areas; machinery, equipment, materials, and input products, among many others.
The maximum lending time is 15 years, with a lending rate of 8.45 per cent a year.
BAC A BANK hopes that capital from the RDFII will further help enterprises to perform well and improve rural economic development.