HANOI, Nov 12 (NNN-VNA) – The State Bank of Vietnam (SBV), called on commercial banks to provide sufficient loans to fuel traders, amid volatile global oil prices and disrupted supply, it was reported yesterday.
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 commercial banks were asked to adopt financial support policies, to best support fuel traders, in accordance with existing regulations, the report 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.– NNN-VNA
Source: NAM News Network