The government has extended zero-interest loans to the troubled Vietnam Shipbuilding Industry (Vinashin) Group and the Vietam National Shipping Lines (Vinalines) in order to meet corporate payrolls.
Under the Decision 87/2010/QD-TTg signed last Friday, the Vietnam Development Bank would extend credit to affiliated enterprises and administrative units of Vinashin and Vinalines at an interest rate of zero per cent to pay employee salaries and social insurance, health insurance and unemployment insurance premiums, as well as severance allowances and unemployment benefits.
The line of credit would extend until December 31, 2011.
Vinashin and Vinalines workers who lost jobs in 2010 or were unable to find work in 2011 would also be able to borrow from the National Fund for Employment to train for another job.
Source VNS
