Updated Rules for Small Business Loans to Take Effect February 25
Feb. 17 – The Prime Minister issued decision 03-2011-QD-TTg on January 10, regulating loan guarantees for small and medium-sized enterprises (SMEs). The decision attempts to standardize procedures for the Vietnam Development Bank to issue guarantees for commercial bank loans to SMEs.
Under the decision, which takes effect on February 25, micro-sized loans are not eligible for guarantees. They will be extended to medium and long-term loans only that are denominated in domestic currency, and used with the specific intent of carrying out projects in priority sectors such as agriculture, manufacturing, energy production, water supply, and construction.
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