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Photo: Agribank

According to statistics in Quang Ninh province, to date, an estimated 4,512 loan customers at Agribank have been affected, with the total outstanding debt affected being 9,287 billion VND. The total amount of damaged debt is 3,851 billion VND, affecting 4,412 customers. Of these, 1,425 customers are in the agriculture, forestry, and fisheries sector; 577 in the industry and construction sector; and 2,410 in the trade and service sector.

Immediately after Typhoon No. 3, Agribank proactively organized working groups to Quang Ninh and some affected localities to assess the situation and damage suffered by loan customers, and to encourage and share with the people and businesses.

Following the directives of the Government , the State Bank of Vietnam, and the request of Quang Ninh province, Agribank branches in the area have promptly implemented support measures such as: restructuring loan repayment terms for 481 customers; reducing interest rates for 1,680 customers with outstanding loans of 4,877 billion VND; providing new loans to restore production and business for 178 customers…

Agribank branches in Quang Ninh province have also coordinated with ABIC Insurance Company to implement compensation activities for customers who suffered losses according to regulations; immediately carried out social welfare work, and worked alongside the locality to provide people and businesses with additional resources to overcome the consequences of the storm.

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Mr. Cao Tuong Huy, Chairman of the Quang Ninh Provincial People's Committee, thanked Agribank for its timely intervention and for accompanying the province in supporting people and businesses to overcome difficulties. Photo: Agribank

Speaking at the meeting, Mr. Cao Tuong Huy, Chairman of the Quang Ninh Provincial People's Committee, expressed his gratitude and appreciation for the responsible and timely involvement of the banking sector and credit institutions, including Agribank, in sharing the difficulties and losses with the people and businesses in the province.

Typhoon No. 3 was a very large storm, with Quang Ninh province at its epicenter, suffering tremendous devastation and causing unprecedented and severe damage, leaving many people and businesses almost completely bankrupt.

In this context, to help people quickly stabilize their lives and restore production, Quang Ninh province immediately began the work of khắc phục (remedying/recovering), reporting to the Government, issuing resolutions, guidelines, and many appropriate and practical policies. Mr. Cao Tuong Huy said that Quang Ninh province restructured its 2024 expenditure, saved on expenses, and allocated 1,180 billion VND to support people and businesses in overcoming the consequences of natural disasters.

In addition, the province is implementing a plan to restore and rebuild the economy after the storm, aiming for optimal efficiency in developing the province's strengths; seizing opportunities to overcome weaknesses in economic development such as: applying new science and technology and new species to aquaculture; revising the planning of the three types of forests, restructuring crop types in forestry development; strengthening the attraction of investment in processing and manufacturing industries with high added value...

The Chairman of the Quang Ninh Provincial People's Committee requested Agribank to continue implementing support policies, providing specific mechanisms and guidelines, and creating a legal framework for branches to have a basis for implementing and supporting customers, especially those who no longer have assets to mortgage for loans; and to issue preferential interest rate loan packages for customers to support the reconstruction of production and business activities.

Quang Ninh province will continue to request the Government to consider expanding the eligibility criteria and increasing the loan limits; at the same time, it commits to using the budget to cover the interest on loans that have been written off in accordance with the law.

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Agribank Chairman Pham Duc An affirmed that Agribank will stand alongside the people and businesses in rebuilding their production and business activities. Photo: Agribank

At the meeting, on behalf of the delegation, Mr. Pham Duc An, Chairman of the Board of Directors of Agribank, emphasized the bank's determination to share the difficulties with the locality, especially with the people and businesses. Mr. Pham Duc An affirmed that Agribank will stand alongside the people, businesses, and Quang Ninh province, as well as other localities, during this challenging period.

To ensure the timely and effective implementation of the bank's support policies, the Chairman of the Board of Directors of Agribank requested the Provincial People's Committee to support and direct localities in verifying the actual damage to households, including those engaged in aquaculture with incomplete legal documents, as the deadline for verifying damage under the Decree on credit policies for agricultural and rural development is limited.

Agribank also requested that local authorities at all levels promptly establish councils to assess the damage caused by Typhoon No. 3 to people in affected areas, facilitating the verification of damage reports for residents so that the bank can complete the debt restructuring process for customers with outstanding loans who have been affected by the typhoon.

In addition, strengthen the activities of women's associations, farmers' associations, etc., to quickly support households affected by the storm. Guarantee access to credit for people and production households, giving them the opportunity to restore production or switch to other occupations and business sectors.

With the involvement of local authorities, Agribank will provide specific guidance and implement timely support policies, working alongside people and businesses to rebuild production and business as quickly as possible.

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Photo: Agribank

Immediately after the working session with the Quang Ninh Provincial People's Committee, Agribank Chairman Pham Duc An and the delegation worked with three Agribank branches in the area to assess the situation, listen to suggestions, and direct specialized units to propose appropriate policies and mechanisms to support people and businesses in a practical and effective manner as soon as possible.

On the same day, the Agribank delegation visited, encouraged, and assessed the actual operations of several production households and businesses damaged by Typhoon No. 3 in Quang Yen district.

Thanh Ha