More than 8,121 billion VND borrowed to invest in forestry and fisheries sector

(GLO) - According to the State Bank of Vietnam (SBV) Regional Branch XI, there are currently 292 customers who are organizations and enterprises in Gia Lai province who have borrowed more than VND 8,121 billion from the credit program for the forestry and fishery sector to invest in production and business.

This program, launched in July 2023 with an initial scale of 15,000 billion VND, was primarily implemented by four state-owned banks: Agribank , BIDV, Vietcombank, and Vietinbank, under the direction of the Government and the State Bank of Vietnam. Currently, in addition to the four banks mentioned above, many other commercial banks are also participating, bringing the total credit package to 100,000 billion VND.

Many customers approach and borrow capital at Agribank Binh Dinh. Photo: T. Sy

The program's funding comes from banks themselves, which provide loans to businesses operating in the forestry and fisheries sectors at interest rates lower than the average interest rates at other banks during the same period. This aims to alleviate financial difficulties for businesses, and is not a government subsidy for loan interest rates.

Recently, banks have been applying lending interest rates in VND that are 1-2% lower per year than the average lending interest rates for the same term at other banks, in accordance with the directives of the Government and the State Bank of Vietnam. This has helped businesses have more options to overcome financial difficulties and promote production and business activities.

Seafood processing and exporting businesses now have more opportunities to access and borrow capital from credit programs for the forestry and fisheries sectors to invest in business development. Photo: T.SY

Source: https://baogialai.com.vn/hon-8121-ty-dong-vay-dau-tu-linh-vuc-lam-thuy-san-post570432.html