Agribank provides social security support in Phu Xuan ward

Proactive support

Immediately after the flood peak passed, when many areas were still flooded, the Agribank Representative Office in the Central region and Agribank Hue branch directly visited 20 communes, wards, schools, and medical centers that were deeply flooded to visit and provide social security support. In each locality visited, Agribank supported 50 million VND, with a total value of 1 billion VND; at the same time, 1 billion VND was awarded to schools, medical centers, and some units that suffered heavy damage.

Currently, Agribank is also urgently reviewing and calculating customers' losses to have appropriate credit support policies, debt relief, interest rate reduction, etc., to help people and businesses quickly resume production and stabilize their lives after natural disasters.

Speaking at the social security support program of Agribank Hue branch after the recent flood, Ms. Nguyen Thi Thu Huong, Chairwoman of the Vietnam Fatherland Front Committee of Kim Long ward shared that in the recent floods, the damage to people and businesses in the ward was quite large. Therefore, along with social security support activities, the ward hopes that banks can actively implement policies to support people and businesses in accessing capital sources to restore production, support the adjustment of loan interest rates, debt repayment time structure... for customers with outstanding debts affected by floods. This is the long-term solution to accompany the locality, people and businesses in economic development.

According to a survey by Agribank city branch, the branch currently has 13,171 customers directly affected by floods with outstanding debt of VND 5,536 billion. Of which, outstanding debt according to Decree No. 55/2015/ND-CP of the Government on credit policy for agricultural and rural development is VND 789 billion; outstanding debt is VND 1,286 billion. Agribank Hue branch has promptly visited and encouraged customers who suffered heavy losses, and at the same time requested the Agricultural Bank Insurance Joint Stock Company (ABIC) to quickly inspect and assess the damage to carry out compensation procedures for customers.

Mr. Tran Dinh Khoi, Deputy Director of Agribank Hue branch, said, “Along with business tasks, Agribank always accompanies the government and people to overcome natural disasters. In the immediate future, social security work has been deployed. Agribank Hue branch is grasping the difficulties of customers after the flood in order to have timely solutions from providing preferential capital to interest rate support policies to help customers overcome difficulties.

Not only Agribank, banks in the area also implemented many social security activities as well as grasped the difficulties of customers in accordance with the direction of the State Bank of Vietnam, in order to promptly deploy measures to support customers affected by storms and floods.

The sooner the policy is implemented, the more effective its support will be.

Chairman of the City Business Association Tran Van My said that support policies need to be implemented soon to help people and businesses reduce financial pressure and speed up the recovery of production and business in the area. The City Business Association has sent a document to the State Bank of Vietnam Region 9 requesting interest rate support, debt extension and deferral for businesses affected by floods.

Accordingly, the City Business Association recommended that the State Bank of Vietnam, Region 9, direct local commercial banks to consider reducing existing lending interest rates by 2-4% per year for short-term, medium-term and long-term loans of damaged businesses. Encourage banks to implement new preferential credit packages for businesses affected by natural disasters, especially in the fields of production, trade, services, tourism, education and training. At the same time, local banks need to restructure debt repayment terms, consider extending and deferring principal and interest for businesses affected by natural disasters; temporarily maintain the debt group for businesses that have suffered heavy damage and are not eligible for payment due to force majeure; not collect early or tighten credit for existing loans of businesses in areas affected by floods.

Director of the State Bank of Region 9 Le Anh Xuan recently requested banks to deploy solutions to support customers in overcoming the consequences of natural disasters. In particular, focusing on reviewing and evaluating the production and business activities and debt repayment capacity of customers affected by natural disasters to promptly apply support measures and remove difficulties for customers. Focus on solutions to restructure debt repayment terms, exempt and reduce interest and fees for customers affected by damages according to current regulations; deploy credit programs and packages with interest rates lower than normal lending rates to restore production and business; reduce lending interest rates by 0.5% - 2%/year for 3 - 6 months for existing outstanding debts of customers affected by storms and floods. At the same time, handle debts for customers affected by loans according to regulations.

Regarding the Vietnam Bank for Social Policies, the Director of the State Bank Region 9 requested to fully implement the assigned tasks in Resolution No. 347/NQ-CP dated October 24, 2025 of the Government on key tasks and solutions to urgently overcome the consequences of natural disasters, quickly stabilize people's lives, promote production and business recovery, actively promote economic growth, and control inflation well.

Article and photos: Hoang Anh

Source: https://huengaynay.vn/kinh-te/dong-hanh-khoi-phuc-va-phat-trien-kinh-te-160121.html