Agribank expands preferential capital for agriculture, forestry and fishery to 20,000 billion VND

Implementing the Government's policy, the Prime Minister's direction and the State Bank's direction on ensuring production, consumption and export of agricultural, forestry and fishery products, contributing to promoting economic growth, Agribank expanded the scope of implementing the preferential credit program for the agricultural, forestry and fishery sector with a scale of 20,000 billion VND.

Agribank is the first bank to implement a preferential credit program for the forestry and fishery sector with an initial registered scale of VND 3,000 billion. Realizing the large capital demand from the market and positive signals, in 2024, Agribank registered twice with the State Bank, increasing the scale of participation in the program to VND 13,000 billion.

After the Government and the State Bank increased the scale of the program to 100,000 billion VND and expanded it into a preferential credit program for the agriculture, forestry and fishery sectors, Agribank quickly expanded the scope of capital provision (adding the agricultural sector) and increased the scale to 20,000 billion VND.

Of which, loans for agricultural products are up to 5,000 billion VND; loans for forestry products are up to 3,500 billion VND; loans for fisheries are up to 11,500 billion VND.

Accordingly, the loan recipients of the program are legal entities and individuals with projects/plans serving production and business in the fields of agriculture, forestry and fishery.

For the agricultural sector, loans include loans for cultivation, livestock, purchasing, consumption, processing, preservation of agricultural products and mixed purposes. For the forestry sector, loans include forestry and related service activities, purchasing, consumption, processing, preservation of forest products and mixed purposes. For the fisheries sector, loans include loans for exploitation, aquaculture, purchasing, consumption, processing, preservation of aquatic products and mixed purposes.

The preferential interest rate of the program is at least 1.0% -2.0%/year lower than the average lending interest rate of the same term (short-term, medium-term, long-term) of Agribank in each period.

Agriculture, forestry and fishery have always been identified by Agribank as one of the key areas for priority capital investment, with a proportion of about 26% of the total outstanding loans of the entire system.

Actively implementing the provision of preferential credit capital to serve the agriculture, forestry and fishery sectors is a specific commitment of Agribank to accompany and remove difficulties for people and businesses, firmly upholding the mission of serving the development of "three agricultures" to promote the supporting role of the economy , contributing to promoting the country's economic growth./.

(Vietnam+)

Source: https://www.vietnamplus.vn/agribank-mo-rong-von-uu-dai-linh-vuc-nong-lam-thuy-san-len-20000-ty-dong-post1040107.vnp