The initiative, supported by government resolutions 77 and 366, is being rolled out under the guidance of the State Bank of Vietnam (SBV), following consultations with the Ministries of Construction, Industry and Trade, and Science and Technology.

Two-phase deployment, preferential interest rates

The credit package will be rolled out in two phases:

From 2025 to 2026, commercial banks will collectively allocate around 100 trillion VND - approximately $4 billion - representing 20% of the program’s total scale, for low-interest loans to eligible infrastructure projects.

From 2027 to 2030, based on project timelines and capital needs, the remaining 400 trillion VND (about $16 billion) will be disbursed, ensuring that no bank exceeds its committed cap and that the total program size stays within the 500 trillion VND ($20 billion) ceiling.

Strategic sectors and eligible borrowers

Eligible borrowers are businesses seeking long-term loans for national key or priority projects in power infrastructure, transport, or strategic technology production, as defined by relevant ministries:

For the power sector, eligible projects are listed in Document 9238/BCT-KHTC dated November 21, 2025, issued by the Ministry of Industry and Trade.

For transport, projects are outlined in Document 14394/BXD-KHTC dated December 2, 2025, from the Ministry of Construction.

For strategic technology, projects must be included in the “National List of Strategic Technologies and Products”, per Decision 1131/QD-TTg dated June 12, 2025, and verified by the Ministry of Science and Technology.

Lending principles and safeguards

The program will be implemented in a manner that is transparent, compliant, and targeted.

Only eligible borrowers can access the program, and they must meet loan requirements and actively cooperate with participating banks during the lending process. Lending will follow current regulations.

Preferential interest rates under the program will be at least 1–1.5 percentage points lower per annum than the average lending rate for similar terms offered by the same bank.

The program will run until the end of 2030, or until the total committed amount is fully disbursed - whichever comes first.

The preferential rate applies for a minimum of two years from the date of each disbursement, but no longer than the agreed loan term.

Banks will cease offering the reduced rate for loans disbursed after December 31, 2030, or when they exhaust their committed funds - whichever comes first.

After the preferential period ends, new interest rates will be agreed upon between the bank and borrower, in accordance with regulations and clearly outlined in the loan agreement.

In the event a borrower is found to be misusing the funds, the bank will terminate the preferential rate and recoup all interest benefits previously granted, calculated from the date of disbursement to the date of policy termination.

The SBV has directed participating banks to urgently issue internal guidance and ensure consistent implementation across their networks. Banks are also encouraged to waive or reduce service fees for program participants.

Tuan Nguyen