Vietnam asks lenders to support fuel traders amid disrupted supply
Nov 12, 2022
Hanoi [Vietnam], November 12: The State Bank of Vietnam (SBV) has called on commercial banks to provide sufficient loans to fuel traders amid volatile global oil prices and disrupted supply, Vietnam News Agency reported on Friday.
A number of fuel stations in Vietnam's big cities have been reportedly shut down or on limited sales in recent weeks with traders citing numerous difficulties in securing stock and suffering heavy financial losses since early this year, the news agency said.
The commercial banks were asked to adopt financial support policies to best support fuel traders in accordance with existing regulations, the news agency said, citing a recent document by the SBV.
The SBV also requested banks to fully meet fuel trading firms' demand for loans to purchase petroleum products to ensure supplies for the domestic market, the document said.
Source: Xinhua
