VIB offers soft financing to Vietnam garment firms

26 May '16
1 min read

The Vietnam International Bank (VIB) is offering preferential loans and 20 per cent discount in trade financing costs for textile and garment enterprises operating in Vietnam till December 31, 2016.

VIB has implemented this programme from mid-May this year in response to calls given by prime minister Nguyen Xuan Phuc and the State Bank of Vietnam (SBV) for reduction in rate of interest for businesses, VIB said in a statement.

VIB has developed three preferential credit packages that total more than $178 million (VND 4 trillion). Of this, the bank has set aside around $134 million (VND 3 trillion) for enterprises engaged in manufacturing, importing and exporting of apparel, as per a document submitted to SBV.

Each enterprise availing loan under the VIB scheme will also receive gift valued up to $3,100 (VND 70 million), the bank said. (RKS)

Fibre2Fashion News Desk – India

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