The Ministry of Labour, Invalids and Social Affairs said on August 25 that it has sent a proposal to the Ministry of Planning and Investment seeking the second aid package for businesses and workers affected by the COVID-19 pandemic.

Residents receive the aid t cushion the COVID-19 impact 

The package's total funding is estimated at VND18.6 trillion (US$808 million), which will be used to offer preferential loans to employers to develop production and trade, and generate more jobs, and give direct aid to affected workers.

Beneficiaries will include small and medium-sized enterprises, cooperatives, cooperative groups, business households, with priority given to micro and small-sized enterprises, cooperatives, business households and labourers in rural areas.

In accordance with the Government’s Decree No.74/2019/ND-CP, businesses will be eligible for a maximum loan of VND2 billion and labourers with VND100 million. For new loans from September 1, 2020 till September 1, 2021, annual interest rates will stand at 3.96%, or half of those for near-poor households. The total loans will be worth VND15 trillion.

The remaining VND3.6 trillion will be used to offer allowances to those who become jobless and have children aged below six. Each will be entitled to VND1 million per month for a maximum duration of three months, applicable from September to December.

About the first aid package worth VND62 trillion, localities approved a list of nearly 16 million beneficiaries with a total funding of more than VND17.5 trillion as of late July.

The State Treasury disbursed about VND12 trillion to support nearly 12 million people and 13,000 business households across the country.