Conference to meet, exchange and connect banks with cooperatives in the province

On August 25, the State Bank - Provincial Branch organized a conference to meet, exchange and connect banks with Cooperatives in the province in 2023. Attending were representatives of leaders of relevant departments and branches.

In the first 8 months of 2023, collective economic activities continued to be maintained stably and developed, production scale was expanded; some new cooperative models operating effectively were replicated; the linkage between cooperatives with each other and with other economic organizations had initial development; state management of cooperatives was strengthened; cooperative activities in the province continued to be maintained stably and developed. As of August 20, 2023, the whole province had 113 cooperatives, with 18,846 members, total registered capital of 219.89 billion VND. Of which, cooperatives operating mainly in the agricultural sector had 85 cooperatives; handicraft production 10 cooperatives; general service business 8 cooperatives; transportation sector 7 cooperatives, and 3 People's Credit Funds. In order to implement solutions to remove difficulties in accessing capital for customers, including cooperatives. Since the beginning of the year, the State Bank of the province has also implemented many policies to reduce loan interest rates, encourage the development of high-tech agriculture, regulate the maximum unsecured loan limit of 1 billion VND for cooperatives and special debt handling policies in case customers encounter risks due to objective reasons.

Representative of State Bank - Provincial Branch reported on the capital support situation of credit institutions for cooperatives in the province.

According to the report, the total loan turnover for cooperatives in the province in the period of 2016-06/2023 reached 14.92 billion VND, accounting for a very low rate of 0.005% compared to the total loan turnover for the economy in the province in the same period. The total outstanding credit balance for cooperatives as of June 30, 2023 is 805 million VND/3 cooperatives, the outstanding balance mainly focuses on cooperatives operating in the fields of agriculture, forestry, fishery, salt production and short-term loans account for 93.2%. At the same time, the Provincial Branch of the State Bank has also resolutely directed commercial banks in the area to effectively implement the Bank-Enterprise, Cooperative Connection Program by proactively seeking customers and taking appropriate measures to guide and support access to credit; continue to identify enterprises and cooperatives that are facing difficulties and take measures to remove difficulties, support credit with reasonable interest rates.

At the conference, representatives of the provincial banks also deployed legal regulations on credit granting, information on credit packages, programs, and service products that banks are currently deploying for cooperative customers. At the same time, cooperatives also shared difficulties and problems in implementing legal regulations in credit relations and using banking services in the past time and proposed solutions to improve access to credit capital for cooperatives.

On this occasion, the State Bank - Provincial Branch announced the establishment of a Board to support access to bank credit for cooperatives and cooperative groups in the province to receive and handle problems arising in the process of proposing credit and banking services for cooperatives.

Red Moon

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