The Da Nang People’s Committee has approved a 10% reduction in the lending interest rates for social policy credit programmes entrusted by the municipal, district and ward-level budgets through the Da Nang Branch of the Bank for Social Policies, regulated by municipal government.

The aforementioned interest rate cut is applied to outstanding loans at the bank from October 1 to December 31, 2021, not applicable to debts during the freeze period.

After December 31, 2021, the lending interest rates for policy credit programmes at the bank shall comply with current regulations.

Reporting by MAI QUE-Translating by A. THU