Signing a cooperation agreement to increase loan support for farmers

(BLC) - On the morning of July 15, the Provincial Farmers' Association (HND) coordinated with Lien Viet Post Bank ( LPBank ) Lai Chau Branch to sign a cooperation agreement to increase loan support for farmer members to develop production and business.

Comrades Duong Dinh Duc - Chairman of the Provincial People's Council; Vu Trong Luong - Director of LPBank Lai Chau Branch; representatives of the State Bank of Vietnam Provincial Branch; Provincial Party Committee's Mass Mobilization Committee; heads and deputy heads of professional departments of LPBank Lai Chau Branch, Provincial People's Council, Lai Chau city... attended.

At the signing ceremony, the representative of LPBank Lai Chau Branch presented the agreement in which both parties agreed to cooperate in implementing LPBank's credit policies to farmer members.

Specifically, the two parties coordinate to introduce and support procedures for customers who are farmer members who need to borrow capital at LPBank; organize meetings of members who need to borrow capital, notify and disseminate the product program of Party A (LPBank Lai Chau Branch) to members who need to borrow capital; propagate and guide the establishment of loan association groups; direct and guide loan association groups to organize meetings to admit members, elect group leaders, review households that need and are eligible for loans and include them in the list of households requesting loans to send back to LPBank. At the same time, support loan procedures for customers who are eligible for loans: guide customers to prepare and provide loan documents according to LPBank's regulations.

Comrade Vu Trong Luong - Director of LPBank Lai Chau Branch spoke at the signing ceremony.

Party B (Provincial People's Council) supports and provides information about loan customers to Party A; Party B commits to cooperate with Party A in managing and recovering loan debts of loan customers introduced by Party B. From there, Party B directs District and Commune People's Councils to direct and guide the Head of the Loan Linkage Group to urge and remind loan customers to use the loan for the right purpose, and to come to LPBank every month to repay the principal and interest according to the agreed schedule. From there, notify LPBank of changes in the customer's ability to repay such as (harvesting agricultural products, livestock, risks of natural disasters, epidemics, etc.) to take timely measures.

Maximum loan amount is 100 million VND/customer of farmer association, maximum loan term is 4 years; in case of borrowing capital with outstanding debt at a finance company, the loan can still be borrowed but must be deducted from outstanding debt at other finance companies.

Comrade Duong Dinh Duc - Chairman of the Provincial Farmers' Association spoke at the signing ceremony.

Speaking at the signing ceremony, comrades Duong Dinh Duc - Chairman of the Provincial Farmers' Association and Vu Trong Luong - Director of LPBank Lai Chau Branch emphasized: The cooperation in lending capital to farmer members through the association between the Provincial Farmers' Association and LPBank Lai Chau Branch is very practical. From there, the two units create conditions for farmer members to easily access loan capital, realize ideas for starting production and business, contribute to increasing income and improving the lives of members. The Provincial Farmers' Association commits to managing loan capital for members to use for the right purposes; strengthen cooperation between the two sides; LPBank Lai Chau Branch ensures loan capital, with incentives, together with the Provincial Farmers' Association, providing detailed instructions on how to deploy to members, avoiding farmers using capital for the wrong purposes, not promoting efficiency...

Representatives of the Provincial Farmers' Association and LPBank Lai Chau Branch signed a cooperation agreement under the witness of delegates.

On this occasion, the two units signed a cooperation agreement.

Source: https://baolaichau.vn/kinh-t%E1%BA%BF/k%C3%BD-k%E1%BA%BFt-th%E1%BB%8Fa-thu%E1%BA%ADn-h%E1%BB%A3p-t%C3%A1c-nh%E1%BA%B1m-t%C4%83ng-c%C6%B0%E1%BB%9Dng-h%E1%BB%97-tr%E1%BB%A3-v%E1%BB%91n-vay-cho-n%C3%B4ng-d%C3%A2n