Second aid package for those hit by COVID-19 proposed

The Ministry of Labour, Invalids and Social Affairs has sent a proposal to the Ministry of Planning and Investment seeking the second aid package for businesses and workers affected by the COVID-19 pandemic.



The package’s total funding is estimated at 18.6 trillion VND (808 million USD), which will be used to offer preferential loans to employers to develop production and trade, and generate more jobs, and give direct aid to affected workers.

Beneficiaries will include small and medium-sized enterprises, cooperatives, cooperative groups, business households, with priority given to micro and small-sized enterprises, cooperatives, business households and labourers in rural areas.

For new loans from September 1, 2020 till September 1, 2021, annual interest rates will stand at 3.96%, or half of those for near-poor households. The total loans will be worth VND15 trillion.

The remaining 3.6 trillion VND will be used to offer allowances to those who become jobless and have children aged below six./.