Immediately after the "Sustainable Development of One Million Hectares of High-Quality, Low-Emission Rice Cultivation Associated with Green Growth in the Mekong Delta by 2030" project was issued, with the determination of all participating parties, many localities in the Mekong Delta region launched the first high-quality rice cultivation models, applying strict sustainable farming processes such as using certified seeds, applying alternating wet and dry water management, and applying specialized fertilizers combined with organic fertilizers for rice...

To effectively implement the Party and State's guidelines and policies on agricultural, farmer, and rural development until 2030, with a vision to 2045, Agribank and the Ministry of Agriculture and Rural Development have signed a Memorandum of Understanding to implement a cooperation program to provide banking products and services to participants under the 1 million hectare high-quality rice project. Accordingly, Agribank will advise, support, and provide banking products and services such as deposit services, loan services, and financial services... in line with the project's objectives for participating entities.

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Of the total investment of approximately 800 million USD for the project to develop 1 million hectares of high-quality rice, Agribank will be the main bank providing credit capital.

The project to develop 1 million hectares of high-quality rice is currently being piloted in five provinces and cities: Can Tho, Soc Trang, Tra Vinh , Kien Giang, and Dong Thap. Agribank branches in the 12 provinces and cities participating in the project have proactively approached, advised, and provided information to project participants regarding policies, procedures, credit processes, and banking products and services. They have also assessed loan needs and refined suitable credit products accordingly.

Agribank will be the leading bank providing credit through preferential credit programs to support the linkage of production, processing, and consumption of high-quality, low-emission rice products in the Mekong Delta. Currently, Agribank is participating with the State Bank of Vietnam in developing preferential credit programs to serve the project, with loan recipients being individuals, farming households, cooperatives, cooperative unions, and businesses participating in the linkage.

As a leading commercial bank in the "three rural sectors" (agriculture, farmers, and rural areas), Agribank is completing the necessary conditions and preparing capital and banking financial services to support farmers in participating in the new, modern agricultural development project and model projects that keep pace with sustainable development trends. This will contribute to improving the quality of agricultural products while reducing emissions and ensuring sustainability in the face of market fluctuations and consumer trends; helping farmers to link up in the rice value chain, increase income, and improve their living standards.

Together with the Ministry of Agriculture and Rural Development, Agribank participates in projects related to the development of agriculture towards modernization, sustainability, environmental friendliness, and emission reduction during cultivation, harvesting, and processing: the pilot project to build standardized agricultural and forestry raw material areas for domestic consumption and export in the 2022-2025 period; rice and fruit raw material areas in the Mekong Delta...

In recent years, Agribank has expanded its investments in projects related to environmental protection, improving the quality and safety of agricultural products, developing coastal resources for sustainable development; managing natural disaster risks; supporting low-carbon agriculture; providing clean water and combating drought and saltwater intrusion...

Affirming its pioneering role and responsibility in the socio-economic development of the country, and in accompanying the Government and the banking sector in implementing the National Green Growth Strategy, Agribank identifies promoting green credit, implementing ESG, and aiming for sustainable development as important goals in its business development strategy. As a leading provider of capital and financial services to the "three rural sectors" (agriculture, farmers, and rural areas), Agribank is determined to implement the commitments and directives of the Government, the State Bank of Vietnam, and relevant Ministries and sectors regarding promoting green growth, managing environmental and social risks in lending activities, and building a safe and sustainable agricultural sector.

Ngoc Minh