Staying steadfast in the mission of "agriculture, farmers, and rural areas"

Together with the entire Agribank system, Agribank branches in the province have continuously grown stronger, becoming key banks channeling capital to rural areas, contributing to the implementation of the Party's resolution on "agriculture, farmers, and rural areas" (Resolution No. 26-NQ/TW dated August 5, 2008, 7th Central Committee Meeting (10th term) on agriculture, farmers, and rural areas). Through this, they have made significant contributions to socio-economic development and the effective implementation of the National Target Program for Building New Rural Areas.

Agribank's credit capital contributes to the development of the tea-growing region of Binh Son (Trieu Son).

The mountainous district of Nhu Xuan still faces many difficulties in socio-economic development. Small industrial clusters exist; most craft villages focus on processing and trade services, and the young workforce is not enthusiastic about agricultural or household-based economic activities in the area. Therefore, the absorption of Agribank capital in the district remains limited. In response to this situation, Agribank Nhu Xuan - Nam Thanh Hoa has directed the development of a network of loan groups, strengthened its presence in the area, disseminated preferential credit policies for agriculture to every village and hamlet, and provided maximum support in procedures to facilitate the flow of Agribank capital in the district. Beyond lending, Agribank Nhu Xuan also supports businesses with many modern digital banking payment solutions such as payroll, national public service payments, essential life services, VietQR, etc. As of the end of December 2024, the total mobilized capital of the branch reached over 600 billion VND. Total outstanding loans reached over 800 billion VND.

Mr. Do Trong Hoc, from Cat Van commune, said: “During the startup process, I always received support and capital from Agribank. With the Farmers' Association acting as my trustee, I received a loan from the bank to invest in buying 300 macadamia seedlings and converting 1 hectare of low-yield cassava and sugarcane fields to macadamia cultivation. I was fortunate that Agribank Nhu Xuan always provided capital during peak periods when I needed to expand the model and purchase a drying machine to process macadamia nuts, making production and business smooth. Stable interest rates and quick disbursement of funds promptly met the investment needs of my family, resulting in a very effective economic model. After more than 4 years of experimentation, 1 hectare of macadamia trees yielded about 3.5 tons/ha, bringing in revenue of about 200 million VND/ha/year. Recognizing that macadamia trees are suitable for the local climate and soil conditions and bring high economic value, my family has expanded the area planted with macadamia trees.” "4 hectares with 1,500 trees; the entire area has yielded a stable harvest, with an estimated yield of 16 tons per year."

From the beginning of 2024 until now, the Agribank system in the province has made efforts to adjust deposit interest rates and reduce operating costs, thus enabling it to implement three interest rate reductions on loans. The average lending interest rate at the end of 2024 decreased by 1.75% per year compared to the end of 2023. Simultaneously, it has actively promoted Agribank's preferential credit programs to support businesses and people in economic recovery and development, such as: a preferential credit program for small and medium-sized enterprises (SMEs) worth 10 trillion VND with the lowest interest rate of 3.5% per year; a preferential short-term loan program for individual customers for production and business activities worth 50 trillion VND with interest rates starting from only 3% per year; and a preferential short-term loan program for individual customers for living expenses worth 10 trillion VND with interest rates starting from only 4% per year. By the end of 2024, the total outstanding loan balance of Agribank branches reached VND 66,450 billion, an increase of VND 7,024 billion, a growth rate of 11.8%, accounting for 31% of the credit market share in the area. The vigorous implementation of credit policies in agricultural and rural development by Agribank branches has contributed to the diversified development of agricultural and rural sectors, from crop cultivation, livestock farming, aquaculture, and processing to investment and upgrading of infrastructure and rural roads in localities. Thanks to access to Agribank capital, people have more opportunities to expand their scale and improve their production and business skills; many farming households have applied scientific and technical advancements in production, improving productivity and quality, developing household economies, and achieving high incomes. Businesses in the agricultural sector have seen significant growth, creating numerous jobs for workers and making substantial contributions to local government revenue.

Besides business activities, during the year, Agribank branches sponsored more than 10 billion VND for charitable and social welfare activities with notable activities such as: sponsoring social welfare for healthcare and education; giving Tet gifts to policy beneficiary families and poor households; sponsoring activities to express gratitude; supporting people in overcoming the consequences of typhoon No. 3...

Text and photos: Khanh Phuong

Source: https://baothanhhoa.vn/kien-dinh-su-menh-tam-nong-236104.htm