Increasing the scale of lending Credit Program for agriculture, forestry and fishery

On September 25, according to information from the State Bank of Vietnam (SBV), the lending scale of the Credit Program for the agriculture, forestry and fishery sector was increased to 185,000 billion VND.

Aquaculture applying technical advances in An Hung commune ( Hai Phong city). Photo: HUONG AN

The credit program to support agriculture, forestry and fisheries is showing remarkable effectiveness, contributing to the recovery of production and promoting exports. Therefore, the State Bank of Vietnam has issued Document No. 8333/NHNN-TD directing credit institutions to continue lending with a turnover of up to 185,000 billion VND.

Since 2023, the State Bank has repeatedly adjusted to expand the scale of the loan package, from 15,000 billion VND to 30,000 billion VND, then 60,000 billion VND and recently 100,000 billion VND.

Previously, a representative of the State Bank said that the loan package had reached 94% of the target, with nearly 23,800 customers receiving disbursements through 17 commercial banks.

According to the State Bank of Vietnam, the scope of loan subjects has been expanded, according to Official Dispatch No. 5631/NHNN-TD dated July 14, 2023 of the State Bank of Vietnam into the Credit Program for the agriculture, forestry and fishery sector. Accordingly, loan subjects are customers with projects and plans to serve production and business activities in the agriculture, forestry and fishery sector.

The current interest rate for loans in Vietnamese Dong is at least 1 - 2%/year lower than the average interest rate for loans of the same term (short term, medium term, long term) applied by the lending bank in each period.

PV (synthesis)

Source: https://baohaiphong.vn/nang-quy-mo-cho-vay-chuong-trinh-tin-dung-cho-nong-lam-thuy-san-521757.html