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MB Bank launches package for Vietnamese garment firms
Jun '16
Courtesy: MB Bank
Courtesy: MB Bank
Vietnam's Military Commercial Joint Stock Bank (MB Bank) has recently introduced a special package for garment enterprises wherein the bank will offer loans up to 100 per cent of the input values or wage payment.

MB Bank has launched the financial package for small and medium enterprises operating in garment production, processing and export sector in view of the expected implementation of the Trans-Pacific Partnership (TPP), which is likely to boost Vietnamese textile and garment sector.

Under the scheme, the maximum loan duration would be six months per contract, with flexible disbursement methods, i.e. either cash or bank transfer.

MB Bank would accept finished products, raw materials, machinery, vehicles, real estate and debt claims as mortgage assets from garment enterprises.

The bank said it would approve partial or full unsecured-loan for each group of customers.

Besides loans, the package covers wage payment, guaranteed insurance, foreign currency transactions, and discount of export documents' fees. (RKS)

Fibre2Fashion News Desk – India

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