Private school affected by the COVID-19 epidemic gets a loan of VND 200 million for repair

The above information is included in the decision on credit for preschools and primary schools affected by the COVID-19 epidemic, signed by Deputy Prime Minister Le Minh Khai this afternoon (April 27).

According to the decision, the maximum loan amount is 80 million VND/person-founded preschool and the maximum amount is 200 million VND/private preschool and primary school.

The specific loan amount for each case is determined by the Bank for Social Policies based on the loan plan. Maximum loan term is 36 months, lending interest rate is 3.3%/year, overdue debt interest rate is equal to interest rate for poor households at the time of borrowing.

Borrowers under the provisions of this Decision are not required to provide loan security for loans up to VND 100 million.

The maximum loan capital under this decision is VND 1,400 billion from the government-guaranteed bond issue. The time for disbursement of the loan capital shall not exceed the date of December 31, 2023 or the time of the end of the loan capital, whichever comes first.

This loan will be used to repair facilities, purchase medical equipment and supplies for COVID-19 prevention and control, purchase nurturing, care and education equipment to restore and maintain operations. motion.

Borrowers must satisfy the following loan conditions: Being established and operating in accordance with law; Suspended from operation according to the requirements of COVID-19 prevention and control for at least 1 month by the time of borrowing.

The Government also requires that school owners who want to borrow must have a specific plan for restoration and maintenance of operations and be appraised by the Bank for Social Policies. At the time of loan application, customers have no bad debts at credit institutions and foreign bank branches incurred before January 23, 2020.

In the past 2 years of the COVID-19 epidemic, private preschools and primary schools faced many difficulties due to prolonged closures to prevent and control the epidemic, and thousands of teachers had to quit their jobs.