Headquarters of the State Bank of Vietnam. (Illustrative image)
In execution of the Government’s Directives in Resolution No. 77/NQ-CP dated April 10, 2025, and Resolution No. 366/NQ-CP dated November 12, 2025, regarding the deployment of the Strategic Infrastructure Investment Credit Program; and based on the opinions of the Ministry of Construction, the Ministry of Industry and Trade, and the Ministry of Science and Technology, along with the consensus and registration documents submitted by the participating Commercial Banks, which include:
Vietnam Bank for Agriculture and Rural Development (Agribank);
The Joint-stock commercial banks (JSCBs): Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank); Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank); Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV); Military Commercial Joint Stock Bank (MB); Vietnam Technological and Commercial Joint Stock Bank (Techcombank); Vietnam Prosperity Joint Stock Commercial Bank (VPBank); Tien Phong Commercial Joint Stock Bank (TPBank); Saigon-Hanoi Commercial Joint Stock Bank (SHB); Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank); Asia Commercial Bank (ACB); Southeast Asia Commercial Joint Stock Bank (SeABank); Vietnam Maritime Commercial Joint Stock Bank (MSB); LPBank; Vietnam International Commercial Joint Stock Bank (VIB); Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank); Nam A Commercial Joint Stock Bank (Nam A Bank); Bac A Commercial Joint Stock Bank (Bac A Bank); Orient Commercial Joint Stock Bank (OCB); Vietnam Export Import Commercial Joint Stock Bank (Eximbank); and An Binh Commercial Joint Stock Bank (ABBank);
The SBV issued Official Letter No. 10825/NHNN-TD to guide certain key aspects for the Program’s implementation.
The Program scale shall be implemented in two phases:
Phase 2025–2026: Commercial Banks shall allocate approximately 100 trillion VND (about 20% of the Program’s total scale) for preferential lending to eligible projects in electricity, transport, and strategic technology infrastructure.
Phase 2027–2030: Based on the progress and capital demand of the projects, the remaining capital will be allocated and expanded, ensuring the total Program scale does not exceed the amount committed by each bank and the overall maximum scale of 500 trillion VND.
Implementation Timeline: The Program shall be implemented until the end of 2030 or until the total lending turnover reaches 500 trillion VND (whichever condition comes first).
Eligible borrowers: Customers are enterprises borrowing medium- and long-term capital for investment in national key/important projects in the fields of electricity, transport, and strategic technology infrastructure, as designated by the relevant Ministries.
Electricity sector: The list of participating projects shall follow Official Letter No. 9238/BCT-KHTC dated November 21, 2025, from the Ministry of Industry and Trade (MOIT).
Transport sector: The list of participating projects shall follow Official Letter No. 14394/BXD-KHTC dated December 02, 2025, from the Ministry of Construction (MOC).
Strategic technology sector: Projects must involve the production of products listed in the “List of National Strategic Technologies and Technology Products” under Decision No. 1131/QD-TTg dated June 12, 2025, and have their eligibility confirmed by the Ministry of Science and Technology (MOST).
Preferential rate: The Program’s preferential lending rate shall be a minimum of 1.0% to 1.5% per annum lower than the average lending rate for the same tenor offered by the lending bank itself.
Preferential period: The preferential rate shall be applied for a minimum of 02 years from the date of each disbursement (according to each promissory note), but not exceeding the loan term specified in the loan agreement with the customer.
Rate cessation: Banks shall cease applying the preferential rate to loans disbursed after December 31, 2030, or when the registered funds of the participating Commercial Banks are exhausted, whichever is earlier.
Post-incentive rate: The lending rate after the preferential period shall be mutually agreed upon between the Commercial Bank and the customer, ensuring compliance with legal regulations, and must be clearly defined or state the method of determination in the credit agreement.
Penalty for misuse of funds: Should the Commercial Bank discover that the customer has misused the capital, the lending bank shall immediately terminate the incentive and recover the entire amount of preferential interest granted to the customer from the date of disbursement until the date of incentive termination.
Lending principles: The Program’s implementation must ensure transparency, public disclosure, adherence to objectives and eligible subjects, and compliance with the law. Borrowers must be eligible subjects, meet all lending conditions as per the law and the Commercial Bank's internal lending regulations, and are responsible for cooperating with the Commercial Bank during the borrowing process. The lending mechanism shall follow current regulations.
Urgently issue internal guidelines and organize the uniform implementation of the Program across their entire system.
Are encouraged, within their competence, to grant fee waivers or reductions for service charges to customers participating in this Program, in line with legal and internal bank regulations.
Shall fund the Program with their own mobilized capital; are responsible for appraising, approving, and deciding on loans in accordance with lending laws, and bear full responsibility for their lending decisions.
Shall perform loan classification, provisioning, and risk management for loans under this Program in accordance with legal regulations.
SBV functional units shall monitor, consolidate implementation results, resolve difficulties and issues, and conduct inspection and supervision of lending activities under the Program.
SBV regional branches shall monitor and conduct inspections of lending activities by Commercial Banks in their localities; promptly report issues exceeding their authority to the SBV Governor; and coordinate with local Departments and Agencies to advise the Provincial/City People's Committees on resolving implementation difficulties to facilitate effective credit extension by Commercial Banks to enterprises investing in strategic infrastructure (electricity, transport, technology) as directed by the Government and the Prime Minister in Resolution No. 77/NQ-CP and Resolution No. 366/NQ-CP.
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