The Bank for Investment and Development of Vietnam (Bidv) in HCM City on July 14 signed a sale support contract with the Vietnam Automobile Industry Corp (Vinamotor).
This is one of the contracts that developing an agreement on comprehensive cooperation on providing credit and banking services signed between the Bidv and the Vinamotor on April 20 in Hanoi. Under this contract, the Bidv this year committed to fund 200 billion dong to support sale programmes of Vinamotor by direct loans or financial leasing to automobile buyers of the Vinamotor. In short-term, this lending programme will be developed in the Bidv’s branches in Hanoi, Hai Phong City, Bac Giang province, Ba Ria-Vung Tau province, Da Nang City, HCM City, Dong Nai province and Binh Dung province.
The maximum lending amount is fixed at 50% of an automobile’s value.