Over 1,000 totally eligible tourism employees who are stuck in financial troubles sparked by the virus resurgence are expected to receive a combined estimate of VND65 billion worth of unsecured loans from the Da Nang Branch of the Viet Nam Bank for Social Policies (VBSP) to get through the tough times.

In detail, each eligible person will receive an unsecured loan of up to VND 100 million with an interest rate of 7.92% per annum for a maximum term of 10 years.

The borrowers must be in desperate need of loans to change their or restoring their production and business in service of tourism such as upgrading their business facilities and repairing means of transport, and to cover their families’ living expenses amid tough times.

It is expected that from July 1 to 9, the Da Nang branch of VBSP will organize the reception of loan applications held at the headquarters of People's Committees in wards and communes where the employee resides. Disbursement is expected in early July.

Guidance on completing procedures to access loans will be introduced through an online meeting organised by the Da Nang Tourism Development Promotion Fund in collaboration with the Da Nang branch of VBSP on June 30.

Over the past two years, the globally complicated developments of COVID-19 have forced many employees working in the Da Nang tourism industry to be laid-off or furloughed. Therefore, the city has seen many of them find other livelihoods to make ends meet in life during the challenging times triggered by the pandemic.

Through the Da Nang Tourist Guides’ Association -conducted survey, about 40% of the total citywide tour guides have changed professions, 30% are unemployed and the remaining ones are still employed. Besides, 70% of the total said they would return to work after tourism is primarily restored.

Reporting by THU HA – Translating by A.T