Households in disadvantaged areas will be eligible to obtain credit of VND100 million ($4,200) at an interest rate of 9 per cent per annum for production and trade under a decision signed recently by Deputy Prime Minister Le Minh Khai.

The decision amends and supplements a number of articles in Decision No. 31/2007/QD-TTg from the Prime Minister on credit for production and business households in underprivileged districts.

Under the former decision, they were eligible to obtain loans of a maximum of VND30 million ($1,260) at an annual interest rate of 10.8 per cent.

Under the new decision, credit increases by VND70 million ($2,950) while the interest rate is cut by 1.8 per cent per annum.

The new decision will take effect from August 8, 2023.