The State Bank of Viet Nam (SBV) will encourage
commercial banks to expand credit programmes effectively by improving
access and addressing problems faced by enterprises in debt repayment.


SBV Governor Nguyen Van Giau said last Friday that for
its part, the central bank would deploy its monetary policies to manage
interest rates, exchange rates and gold trading carefully so as to
encourage production and export and foster macro-economic stability.


It would also take measures to prevent speculation and illegal trading in foreign currencies, he said.


Giau said the SBV would hold monthly meetings with its subsidiaries and credit organisations to address credit-related problems.


It would also petition the Government to issue specific credit policies for rural areas, including the provision of small loans.


Under these policies, the government will subsidise 50
per cent of the interest rate on loans taken by agricultural workers in
61 poorest districts to plant forests and/ or invest in production.


The Viet Nam Bank for Social Policies will launch a
two-year-plan to raise funds and expand lending to poor families and
students.


The governor called on commercial banks to disburse
capital for big State-operated projects and buy State bonds to help the
Government get more money.


The SBV will also negotiate with international organisations to mobilise ODA capital and other aid inflows, according to Giau.