The Prime Minister has signed and promulgated Decision 33/2021/QD-TTg amending and supplementing some articles of Decision No. 23/2021/QD-TTg regulations on the implementation of some policies to support workers and employers facing difficulties due to the Covid-19 pandemic, including regulations on preferential loans.
In the section related to the refinancing credit package, the basic contents of Decision 33/2021/QD-TTg have been adjusted in a more relaxed direction, creating favorable conditions for beneficiaries to access policy capital.
In particular, one of the notable points is that Decision 33 removed the condition that the borrower must have no bad debt at the credit institution at the time of borrowing.
Specifically, the conditions for borrowing money with preferential policies specified in Decision 33 are employers are entitled to a loan to pay wages to stop working when a worker working under a labor contract is participating in compulsory social insurance and has to stop working for 15 consecutive days or more from May 1, 2021, to the end of March 31, 2022.
Conditions for borrowing capital to pay wages to employees when restoring production and business of the employer are also regulated separately.
Employers must temporarily suspend operations in whole or in part at the request of competent state agencies to prevent and control the Covid-19 epidemic or having its head office, branches, representative offices, production and business locations in its locality, taking measures to prevent and control the epidemic according to the principles of Directive No. 16/CT-TTg.
The policy also applies to employers subject to inactivity/discontinuance/limited activity/conditional operations measures as prescribed in Resolution No. 128/NQ-CP from May 1, 2021 to the end of March 31, 2022.
Other conditions are that an employee working under a labor contract is participating in compulsory social insurance at the time of applying for a loan; have a plan or a plan to restore production and business in case the operation must be temporarily suspended.
For employers operating in the fields of transport, aviation, tourism, accommodation services and sending Vietnamese workers to work abroad under contracts, conditions include that employees working under labor contracts are participating in compulsory social insurance up to the time of loan application; have a plan or plan for production and business recovery.
Previously, Decision 23 was issued by the Prime Minister from July 2021, in which, the Bank for Social Policies provides the employer with a refinancing loan up to 7,500 billion VND, without collateral, at 0%/year interest from the State Bank of Vietnam.
The time limit for disbursement of refinancing of the State Bank of Vietnam is until the end of March 31, 2022, or when all refinancing sources are fully disbursed, whichever comes first.
Collected from source
Chi Tin