Supporting SMEs to recover and develop their business activities, BIDV has launched the “Covid-19 Relief Comprehensive Financial Program for Women-led Small and Medium-sized Enterprises (WSME)” funded by Asia Development Bank (ADB) and BIDV, with attractive financial and non-financial solutions.

For eligible existing SME customers facing difficulties due to Covid-19 pandemic, BIDV offers many solutions including: restructuring loans with extended repayment term from 6 months and above; supporting 6 months of interest up to USD10,000 per customer - applicable to structured loans with principle and interest emerged since COVID-19 pandemic was announced in Vietnam on 23 January 2020; and applying free structural penalties and fees penalties to debt structure.  

This program is disbursed from the USD5 million fund of the Women Entrepreneurs Finance Initiative (We-Fi) which has entrusted to ADB.

To further support WSMEs, BIDV has offered a comprehensive financial program with preferential service fees and interest rates for long-medium term and short-term loans. Accordingly, eligible WSME customers will be offered first-year loan interest rate of 7.5% p.a. maximum, and other attractive offers such as waiver or reduction of payment account fees, cash-flow management fees, trade finance/guarantee services, e-banking services, etc.

In addition, BIDV organizes a specialized business consulting program with leading experts for WSMEs in order to enhance their knowledge on business operations, planning, financial management, financial analysis, cash flow, new products and services, ultimately increasing their business results.

The “Covid-19 Relief Comprehensive Financial Program for WSMEs” is one of BIDV’s prompt solutions to support WSMEs which is implemented concurrently with other WSME programs on digital transformation and non-financial solutions such as online training and business connections designed exclusively for WSME under the “National Comprehensive Financial Strategy to 2025 and vision to 2030” (Decision 149/QD-TTg dated 22 January 2020).