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On April 27, 2022, the Prime Minister hereby promulgates the Decision No. 11/2022/QD-TTg on credit applicable to non-public early childhood and primary schools affected by the COVID-19 pandemic.
Accordingly, non-public early childhood and primary schools are eligible for borrowing loan, including:
- Private and people-founded childcare groups, pre-primary classes, early childhood classes (private and people-founded early childhood education institutions)
- Private and people-founded nurseries, pre-primary schools and early childhood schools (private and people-founded early childhood schools); private primary schools.
The Bank for Social Policies shall make direct loans to borrowers, within that:
- The maximum loan for a people-founded or private early childhood education institution is 80 million VND.
- The maximum loan for a people-founded or private early childhood school or a private primary school is 200 million VND.
- The loan interest rate is 3.3%/year.
- The maximum loan term is 36 months. Loans shall be used for repairing physical foundations; purchasing medical supplies and equipment for COVID-19 prevention and control; purchasing nurturing, caring and educational equipment for rehabilitation and maintenance.
Lending conditions:
- Being formed and operating in accordance with law.
- Having its operation suspended at least 1 month up to the time of borrowing due to requirements for COVID-19 prevention and control.
- Having a plan on borrowing loans for recovering and maintaining operation, that is made according to Form No. 01 provided in Appendix to this Decision and appraised by the Bank for Social Policies.
- Having no non-performing loan owed to any credit institutions or foreign bank branches arising before January 23, 2020, by the time of proposing for a loan.
