On February 29th, branches of the Agricultural and Rural Development Bank ( Agribank ) in Thanh Hoa province, in coordination with the Provincial Farmers' Association and the Provincial Women's Union, held a conference to summarize the implementation of Inter-sectoral Agreements No. 01 and No. 02 on credit capital sources for agricultural and rural development in Thanh Hoa province in 2023, and to plan tasks for 2024. Attending the conference was Mr. Nguyen Van Thi, Member of the Standing Committee of the Provincial Party Committee and Permanent Vice Chairman of the Provincial People's Committee.
Commendations will be given to collectives and individuals who have achieved outstanding results in implementing inter-agency agreements 01 and 02 in 2023.
By the end of 2023, the total outstanding loan balance under inter-sectoral agreements 01 and 02 at Agribank branches in Thanh Hoa province reached VND 18,410 billion, an increase of 12.3% compared to the beginning of the year. Of this, the outstanding loan balance under inter-sectoral agreement 01 through the HND channel was VND 11,556 billion; and the outstanding loan balance under inter-sectoral agreement 02 through the HLHPN channel was VND 6,854 billion. Credit quality was consistently ensured, with the non-performing loan ratio accounting for only 0.04% of the total outstanding loan balance. To date, the province has established 4,838 loan groups with over 142,000 members.
Director of Agribank Thanh Hoa Nguyen Thuan Phong spoke at the conference.
People participating in the loan program are assessed at the group level, and loan disbursement, repayment, and interest collection are conducted through mobile groups and commune-level transaction points. This has contributed to saving travel costs and making access to loan capital more convenient and easier. In addition, during the loan process, group members also receive training and technology transfer from the Farmers' Association and the Women's Union at various levels, enabling them to develop feasible production and business plans and maximize the effectiveness of the loan capital.
The delegates attending the conference.
Through a collaborative program between Agribank branches in the province and the Farmers' Association and Women's Union at all levels, significant contributions have been made to the implementation of credit policies serving agricultural and rural development. The capital has supported the development of many effective production and linkage models, creating jobs for thousands of rural workers, promoting a strong shift in the structure of crops and livestock; forming concentrated commodity production areas, and contributing to the successful achievement of income criteria in the new rural development program in many localities throughout the province.
Tong Van Anh, Director of the State Bank of Vietnam's Thanh Hoa Provincial Branch, delivered a speech at the conference.
Building on the achievements of the past year, in 2024, Agribank branches in Thanh Hoa province will continue to coordinate with the Provincial Farmers' Association and the Provincial Women's Union to promote the implementation of inter-sectoral agreements 01 and 02, striving for a loan balance growth of 7% or more through loan groups.
Comrade Nguyen Van Thi, Member of the Standing Committee of the Provincial Party Committee and Permanent Vice Chairman of the Provincial People's Committee, delivered a speech at the conference.
Speaking at the conference, Comrade Nguyen Van Thi, Member of the Standing Committee of the Provincial Party Committee and Permanent Vice Chairman of the Provincial People's Committee, affirmed: The inter-sectoral agreement loan program 01 and 02 is a good and innovative approach; it has become a direct, practical, and effective channel for capital transfer, linking Agribank's activities with the activities of various levels of associations.
The comrade requested that the units continue to closely adhere to the Party's guidelines, the State's policies, and the province's key socio-economic development programs to effectively coordinate the deployment of credit funds for agricultural and rural development, ensuring timely and targeted capital provision, proper use for intended purposes, and maximum efficiency.
The Standing Vice Chairman of the Provincial People's Committee also requested that local authorities pay attention to and direct the shortening of the time for issuing land use right certificates to people, ensuring that they meet the conditions for banks to provide loans. Units should continue to consolidate and improve the operation of loan groups and steering committees at the local level; promote the transfer of science and technology, introduce and replicate good and appropriate models and practices so that people have more knowledge and experience in production and business to use loan capital effectively. They should encourage loan group members to open payment accounts, become familiar with and use cashless payment services, contributing practically to the implementation of the Project on Developing Cashless Payments in the province for the period 2021-2025.
At the conference, many collectives and individuals were awarded for their outstanding achievements in implementing inter-sectoral agreements 01 and 02 in 2023.
Khanh Phuong
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