Vietnam’s central bank tells banks to lend to fuel companies

state-bank-of-vietnam
The State Bank of Vietnam

Vietnam’s central bank has asked commercial banks to urgently provide loans to key oil and gasoline companies amid rising fuel shortages.

Hundreds of petrol stations in cities such as Ho Chi Minh City and Hanoi have shut down or limited sales. The shortages were driven by firms’ financial difficulties and insufficient fuel storage, media reports said.

“Oil and gasoline are strategic and important commodities,” the State Bank of Vietnam (SBV) said in a letter to commercial banks on November 8

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