Credit program to serve the project of 1 million hectares of high-quality rice

On November 7, 2024, the State Bank of Vietnam (SBV) coordinated with the Ministry of Agriculture and Rural Development (MARD) and the People's Committee of Dong Thap province to organize a conference on preferential credit to implement 1 million hectares of high-quality, low-emission rice in the Mekong Delta (MD).

At the Conference, Deputy Minister Tran Thanh Nam said that this is the first project in the world to produce 1 million hectares of high-quality, low-emission rice, so it has received a lot of attention from international partners. The project has created encouragement for farmers and businesses participating in developing the rice industry in the Mekong Delta in particular and the rice industry in the country in general.

According to Deputy Minister Tran Thanh Nam, to implement the project, the State only supports a part of the funding, the rest is mobilized from social resources, including credit capital. With the direction of the State Bank in directing commercial banks to pioneer in participating in the Project, this is an important push and motivation, promoting the success of the project in the coming time.

Deputy Minister Tran Thanh Nam said that the Ministry of Agriculture and Rural Development, together with 12 provinces, has reviewed the entire current status of production infrastructure in the project area, especially irrigation infrastructure, to meet the requirements of proactive irrigation, infrastructure supporting transportation, and synchronous mechanization to create favorable conditions for the application of technical processes for high-quality, low-emission rice production. Localities participating in the project must ensure compliance with regional, sectoral, and provincial planning; and must ensure consistency and non-overlap with projects that central and local agencies have, are, and will invest in on climate change adaptation in the Mekong Delta.

"The main purpose of this project is to reorganize rice production in the Mekong Delta to increase farmers' income, so the most difficult thing in reproducing the chain is to change the mindset of producers and traders," Deputy Minister Tran Thanh Nam informed.

At the Conference, representatives of relevant agencies and units reported on the implementation of the Project according to Decision 1490/QD-TTg; the implementation of internal guidelines of the Vietnam Bank for Agriculture and Rural Development (Agribank) on the Preferential Loan Program for 01 million hectares of high-quality, low-emission rice in the Mekong Delta according to Decision 1490/QD-TTg. In particular, Associations, enterprises, cooperatives, and households shared their plans and expectations for participating in the Project, and the difficulties they face so that relevant parties can join hands to resolve them...

Representatives of enterprises, cooperatives, and farmers in An Giang, Can Tho, Long An, Dong Thap, Tra Vinh, Soc Trang... also made statements, highly appreciating the implementation of the Project. Through the implementation of linkages, farmers have increased the application of science, technology, and technology in cultivation, irrigation, and planting stages...; Enterprises have proactively selected raw material areas and sources of high-quality rice, meeting the requirements of demanding export markets; Close coordination, ensuring prestige and commitment not to break agreements in the linkage chain model, with risk sharing between participating parties when market prices fluctuate; Production and business according to the linkage chain towards a circular economic model helps improve productivity and economic efficiency in all stages.

Source: https://www.mard.gov.vn/Pages/chuong-trinh-tin-dung-phuc-vu-de-an-1-trieu-ha-lua-chat-luong-cao.aspx