Prime Minister Pham Minh Chinh has directed the State Bank of Vietnam (SBV) to encourage credit institutions to stabilize lending interest rates to support businesses and the economy.

Under a directive signed recently by the government leader, the SBV was assigned to review and take appropriate measures to remove difficulties in real estate credit, deal with bad debts and real estate corporate bonds, and create favorable conditions for businesses and individuals to access bank credit, contributing to limiting the use of “black credit”.

The directive urges ministries, agencies, and localities to perform key tasks following the Tet (Lunar New Year) holiday.

The central bank was also instructed to closely monitor the situation and continue to manage monetary policy firmly, flexibly, proactively, and effectively.

It should focus on ensuring liquidity and safety in the credit institution network and ensure reasonable credit growth, with priority given to growth drivers and production and business development.