In Dien Bien province, the Agricultural and Rural Development Bank (Agribank) plays a leading role in encouraging lending to the "three rural sectors" (agriculture, farmers, and rural areas). In recent years, Agribank has allocated over 50% of its total outstanding loans to these sectors; actively supporting and promoting the restructuring of the agricultural economy , contributing to poverty reduction and the construction of new rural areas. According to statistics from Agribank's Dien Bien branch, as of July 31, 2023, the total outstanding loans to the "three rural sectors" reached VND 3,786.393 billion, accounting for 53% of the total outstanding loans, with a total of 14,932 customers. These loans are concentrated in the following areas: crop cultivation, livestock farming, agricultural services, agricultural product development; forestry, and fisheries.
In 2008, taking advantage of the land, Mr. Lo Van Oai's family (Hoong Lech Cang village, Thanh Chan commune, Dien Bien district) started their business with a VAC (Garden-Pond-Livestock) model including: 1,000 m² of fish ponds; 1.4 hectares of production forest; 20 Dien pomelo trees; and poultry farming. After nearly 10 years of development, the model proved effective, opening up a direction for economic development suitable to local conditions. In 2017, Mr. Oai boldly borrowed 250 million VND from Agribank Dien Bien district to invest and expand the scale from a household to a farm with 4,000 m² of fish ponds; 5,000 m² of fruit trees; 3.3 hectares of production forest; and livestock barns. To date, Mr. Lo Van Oai's integrated farm model generates an income of over 300 million VND per year. According to Mr. Oai, it was thanks to a loan from Agribank that he had the resources to transform his household economic model into a farm model. Since switching to a diversified farm, Mr. Oai's family has escaped poverty, their living standards have improved, and their children and grandchildren have had better opportunities for education and development.
In parallel with facilitating loans for household-scale economic projects and models, Agribank Dien Bien Provincial Branch always accompanies local Party committees, authorities, and people in implementing programs and projects on agricultural production development. For example, under the Project on Restructuring the Agricultural Sector towards increasing added value and sustainable development, Agribank has facilitated loans for customers to renovate unproductive orchards, purchase seedlings and agricultural supplies, build workshops, invest in technology lines, and participate in production linkages along the value chain, increasing the value per unit of cultivated land.
In implementing the policy of developing coffee cultivation in Muong Ang district, Agribank's Muong Ang branch has facilitated loans for 1,383 customers to develop coffee growing areas, build factories, and process coffee products, with a total outstanding loan balance of VND 335.645 billion. Agribank has become a familiar and reputable support for households and businesses in the area.
Ms. Bui Thi Viet Ha, owner of Ha Chung Coffee Processing Facility in Muong Ang District, stated: "Every year, we collaborate with and purchase coffee products from 3-4 farmers, totaling approximately 4-5 tons of coffee husks for processing into finished coffee products. After many years of operation and research, in 2019, our facility successfully developed Ha Chung coffee, achieving OCOP certification and a 3-star rating. By 2022, we successfully upgraded our product rating from 3 stars to 4 stars. Throughout our operations, we have always received support from Agribank's Muong Ang District branch. When we need loans, the bank always facilitates all stages, from appraisal and application review to disbursement."
Currently, Agribank Dien Bien Provincial Branch is closely following the province's major policies on agricultural development, such as: developing specialized areas for high-quality fruit trees; macadamia nut planting projects; developing medicinal plants under the forest canopy... to organize and implement programs and credit packages that help people and businesses easily access capital, contributing to the effective implementation of projects.
The effectiveness of prioritizing capital allocation for agriculture, rural areas, and farmers has significantly contributed to the implementation of the National Target Program for Building New Rural Areas in the province. Capital support from the Agribank branch in Dien Bien province has helped promote production and business, create jobs, shift the labor structure, and improve the lives of the people. Currently, the province has one commune that has achieved advanced new rural area standards and 21 communes that have achieved standard new rural area status. According to statistics, 100% of communes that have achieved new rural area or advanced new rural area standards have outstanding loans at Agribank branches in the province, totaling hundreds of billions of dong. To ensure timely provision of capital and convenient services to meet the diverse needs of customers, people, and businesses, Agribank has proactively researched and implemented many innovative, effective, and practical approaches. Accordingly, Agribank's Dien Bien Provincial Branch has signed agreements with organizations such as the Farmers' Association, the Women's Union, and trade unions of agencies and units to develop loan groups; deploy mobile banking services using specialized vehicles to deliver capital and many convenient banking services to people, especially in mountainous and remote areas, enabling them to develop production and become wealthy right on their homeland.
To ensure that credit flows to serve agriculture, rural areas, and farmers continue to be facilitated, in the coming period, Agribank Dien Bien Provincial Branch will strengthen measures to mobilize capital, expand lending areas, and focus on expanding the range of borrowers. At the same time, it will maintain relationships with local Party committees and authorities to develop the market and market share for lending to production households and individuals, lending under agreements, lending to groups, and lending to the agricultural and rural sectors.
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