Objective
To direct the implementation of urgent measures to support borrowers, contributing to helping people and businesses restore production and stabilize their lives after the disaster.
Requirements for Credit Institutions
The State Bank of Vietnam requires credit institutions to:
- Review and assess the damage suffered by borrowers and promptly apply support measures.
- Restructure the debt repayment periods and consider waiving or reducing loan interest.
- Continue providing new loans to restore production and business after the typhoon.
- Implement debt handling for damaged customers in accordance with regulations.
- Guide customers to complete the necessary documentation to receive support.
Requirements for local SBV branches
Local SBV branches must:
- Act as the focal point to direct credit institutions in their area to immediately implement measures to support customers.
- Coordinate with local departments and agencies to advise the Provincial/City People's Committee on solutions to support affected people and areas.
Implementation Requirement
- The Chairpersons of the Boards of Directors/Members' Councils, General Directors of the banks, and the Directors of the local SBV branches must urgently and immediately implement the directed contents.
- If there are difficulties or obstacles beyond their authority, they must report to the State Bank of Vietnam for timely consideration and resolution.
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From September 27 to September 30, 2025, Typhoon No. 10 (Bualoi) swept through Vietnam with strong winds and an extensive, prolonged scope, combined with heavy rain, causing great loss of life and property in the Northern and North Central provinces. Timely financial and credit support is very urgent to help people and businesses restore their lives and stabilize production and business.
According to a report from the Ministry of Agriculture and Environment, in September and early October alone, Vietnam was hit by five consecutive typhoons. Specifically, Typhoons No. 9 (Ragasa), No. 10 (Bualoi), and No. 11 (Matmo) caused severe damage in the Northern and Central provinces. The consequences include:
Over 80 people dead and missing.
Approximately 195,600 houses collapsed, unroofed, or severely damaged.
87,000 hectares of rice and crops flooded and damaged.Minister of Agriculture and Environment Tran Duc Thang stated that the aftermath of the floods is very serious, and people in the affected areas are facing many difficulties and require urgent support to stabilize their lives soon.
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