Press release on issuance of Circular No.10/2021/TT-NHNN
On July 21, 2021, the Governor of the State Bank of Vietnam (SBV) issued Circular No.10/2021/TT-NHNN stipulating the refinancing applied to Vietnam Bank for Social Policies (VBSP), as required for by the Prime Minister in Decision No. 23/2021/QD-TTg dated July 07, 2021 on a number of support policies for employees and employers in difficulties due to the COVID-19 pandemic.
The issuance of this Circular is aimed to promptly implement Resolution No.68/NQ-CP dated July 1, 2021 of the Government on a number of support policies for employees and employers in difficulties due to the COVID-19 pandemic, and Decision No.23/2021/QD-TTg dated July 7, 2021 of the Prime Minister on a number of support policies for employees and employers in difficulties due to the COVID-19 pandemic.
The new Circular, which is composed of 10 Articles, contains the key provisions on: the scope and subjects of application; the refinancing amount; the refinancing interest rate; the refinancing terms; the disbursement of the refinancing; the collaterals for the refinancing; the refinancing sequences; the repayment of refinanced loans; and responsibilities of the relevant entities.
The new Circular took effect from July 21, 2021.
Translated by VA