CBs encouraged to back steel enterprises
18:00 | 25/12/2008
VGP – The Governor of the State Bank just issued a document requiring commercial banks (CBs) to assist the steel sector.

CBs should readjust debt payment time for steel producers – Illustration photo

CBs were asked to readjust the time of debt payment applied for overdue loans of steel enterprises.

Over the past time, due to the global financial crisis, domestic steel production and business have been uneasy, especially the consumption and export of steel products were slow,

For enterprises who are facing financial difficulties, credit organizations can consider to extend their debts in line with current regulations in order to help these enterprises maintain production.

CBs are allowed to assess enterprises’ capacity of debt payment, so as to decide to grant new loans to them.

By Hoàng Nguyên

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