According to information from the State Bank of Vietnam on the afternoon of October 15th, the program for lending to link production, processing, and consumption of high-quality, low-emission rice products in the Mekong Delta region will be implemented in two phases.
The pilot phase, from now until the end of 2025, will be primarily managed by Agribank . The subsequent expansion phase, from the end of the pilot phase until 2030, will involve other credit institutions. These credit institutions will lend using their own mobilized capital, thus operating under a commercial lending mechanism.
To meet the short, medium, and long-term capital needs of the various stages (production, procurement, processing, consumption) in the rice linkage, credit institutions proactively balance capital sources and reduce costs to apply lending interest rates that are at least 1% lower per year than the interest rates for the corresponding term currently applied to customers of the same term/group.
The Ministry of Agriculture and Rural Development and the People's Committees of provinces and cities have not yet announced the actual cost norms for rice production in rice linkages, nor have they identified and announced specialized farming areas, linkages, and participating entities according to Decision 1490. Therefore, credit institutions lack a basis for assessing the capital needs to serve these linkage chains.
In addition to a minimum interest rate reduction of 1%, entities participating in rice production linkages also enjoy many other incentives according to Decree 55/2015/ND-CP dated June 9, 2015, and Decree 116/2018/ND-CP dated September 7, 2018, of the Government on credit policies serving agricultural and rural development, such as: Maximum unsecured loan amount from VND 100 million to VND 3 billion (depending on the customer type: individual, cooperative, or collective); loan policies to encourage agricultural production according to linkage models and high-tech agriculture, with unsecured loans up to 70-80% of the project value...
Regarding the specific debt resolution mechanism under the State Bank of Vietnam, this includes restructuring the repayment period and maintaining the same debt classification for customers facing difficulties due to objective reasons or force majeure; and a debt freezing mechanism for customers facing risks due to natural disasters, widespread epidemics, or customers who are key organizations, high-tech enterprises facing risks due to objective reasons or force majeure.
According to the News Report
Source: https://doanhnghiepvn.vn/kinh-te/lai-vay-duoc-giam-toi-thieu-1-khi-thuc-hien-chuong-trinh-lien-ket-lua-gao/20241016070834246
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