Summary of the implementation of Decree 55 of the Government on credit policy for rural agricultural development

On May 30, the Bank for Agriculture and Rural Development ( Agribank ) Ninh Binh Branch coordinated with Agribank Nam Ninh Binh Branch to organize a conference to review the implementation of credit policies for agricultural and rural development according to Decree 55/2015/ND-CP of the Government; at the same time, summarize the inter-sectoral agreement between Agribank and the Farmers' Association, Women's Union, and Veterans' Association of Ninh Binh province for the period 2016-2022.

Attending the conference were comrades: Tran Song Tung, member of the Provincial Party Standing Committee, Vice Chairman of the Provincial People's Committee; Bui Mai Hoa, member of the Provincial Party Standing Committee, Head of the Provincial Party Committee's Propaganda Department; representatives of Agribank Vietnam; representatives of a number of departments, branches, localities, associations and unions of the province.

In recent years, closely following the guidelines and policies of the Party and the State, the direction of the State Bank and Agribank Vietnam as well as the socio -economic development orientation of the province, Agribank branches in Ninh Binh province have implemented many mechanisms and policies to mobilize capital, encourage investment, expand credit, and provide maximum support for resources, in order to promote agricultural and rural development in the province.

Agribank Ninh Binh 's capital has grown year after year. As of December 31, 2022, capital reached over VND 15,000 billion, an increase of 12.7% compared to 2020, of which residential deposits accounted for 93.2% of total capital, an increase of 12% compared to 2020.

With solid financial potential, Agribank Ninh Binh has always been a state-owned commercial bank playing a key role in the province's agricultural and rural financial market. Total outstanding loans for agriculture and rural areas as of December 31, 2022 reached VND 13,485 billion, accounting for 62.3% of the total outstanding loans of the economy, an increase of VND 7,000 billion compared to 2015.

Investment credit growth for agriculture and rural areas focuses on developing modern agriculture, applying high technology, increasing credit investment rate/customer; creating conditions for farmers to access capital to invest in production and business development, contributing to limiting black credit according to the direction of the Government and the State Bank.

Summary of the implementation of Decree 55/2015/NDCP of the Government on credit policy for rural agricultural development — Conference delegates.

Along with the agricultural, rural and farmer lending policies under Decree 55, Agribank Ninh Binh also promotes the implementation of lending programs such as: new rural construction program; Loans to reduce post-harvest losses under Decision 63/2010/QD-TTg, Decision 65/2011/QD-TTg, Decision 68/2013/QD-TTg; Loans under Decree 67/2014/ND-CP dated July 7, 2014 of the Government on a number of policies for aquaculture development; Agricultural loans applying high technology for clean agriculture.

Through the implementation of credit policies for investment in agricultural and rural development, farmers have contributed to shifting the structure of crops and livestock, gradually improving productivity, increasing income for each family and individual, actively contributing to the construction of new rural areas; reducing poverty in rural areas.

In order to quickly and promptly transfer capital, best meeting the capital needs for economic development of people in rural areas, Agribank Ninh Binh has organized the signing of an Inter-sectoral Agreement with the Farmers' Association, Women's Association, and Veterans' Association of Ninh Binh province. Directing type II branches to effectively coordinate with all levels of associations to promote the supply of credit capital to households and individuals for economic development, credit growth and provide full and timely banking services to customers who are production households and individuals in rural areas. The Farmers' Association, Women's Association, and Veterans' Association have directed their affiliated units to coordinate with Agribank to organize and manage the activities of loan groups, propagate bank credit policies, support banks in appraising loan projects, preparing loan applications, disbursing, collecting debts, managing debts, inspecting and supervising; improving the efficiency of using loans to develop household economies, thereby contributing to building an increasingly strong association organization.

Up to now, Ninh Binh province has 1,205 Loan Groups with over 22,000 members and outstanding loans of over 4,200 billion VND. The lending rate through Loan Groups reaches 26.8% of the total outstanding loans of individual production households. The operation of Loan Groups has been effective in organizing the implementation of lending conditions for members of all levels of the association; lending, debt collection, and provision of banking products and services are carried out in accordance with Agribank's regulations.

At the conference, representatives of all levels of the association and the Head of the Loan Group discussed and focused on clarifying the advantages and difficulties in the process of supporting Agribank in capital transmission, and proposed many solutions and recommendations to make the inter-sectoral agreement between Agribank and the Farmers' Association, Women's Union, and Veterans' Association of Ninh Binh province more effective.

On this occasion, 6 collectives and 10 individuals were awarded certificates of merit by the Chairman of the Provincial People's Committee; many collectives and individuals were rewarded by Agribank Ninh Binh for their outstanding achievements in implementing Decree 55/2015/ND-CP of the Government on credit for agricultural and rural development.

Hong Giang - Anh Tuan

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