Nghe An: Loans for offshore seafood exploitation increase sharply

(Baonghean.vn) - In the first 9 months of the year, outstanding loans for offshore seafood exploitation in Nghe An have grown strongly. Up to now, this loan program is estimated to reach 615 billion VND, an increase of 60% compared to the beginning of the year.

According to the State Bank of Vietnam, Nghe An branch, as of September 30, 2017, mobilized capital in the area reached VND104,403 billion, up 12.37% compared to the beginning of the year (up VND11,449 billion). Total outstanding loans of credit institutions in the area reached VND160,200 billion, up 10.17% compared to the beginning of the year (up VND4,787 billion).

Thanks to loans for offshore fishing, many fishing boats are operating effectively. In the photo: Fishermen in Tien Thuy and Quynh Luu prepare ice to go offshore. Photo: Thu Huyen

Of which, outstanding medium and long-term loans accounted for 63.2%, outstanding short-term loans accounted for 36.8% of total outstanding loans. Bad debts of credit institutions in the area were estimated at VND 1,571 billion, accounting for 0.98% of total outstanding loans, down VND 245 billion compared to the same period last year (equal to 13.49%) and the bad debt ratio was lower than the same period last year (in 2016 it was 1.3%).

Some programs have good outstanding loans such as: Agricultural and rural loans under Decree 55 are estimated at 60,864 billion VND, up 6.7% compared to the beginning of the year; export loans are estimated at 1,750 billion VND, up 21.2% compared to the beginning of the year; outstanding loans for housing support under Resolution 02/NQ-CP dated January 7, 2013 of the Government are estimated at 387 billion VND, down 7.9% compared to the beginning of the year...

In particular, outstanding loans for offshore fishing under Decree 67/2014/ND-CP of the Government and Circular 22/2014/TT-NHNN of the State Bank have grown strongly. Up to now, this lending program is estimated at 615 billion VND, an increase of 60% compared to the beginning of the year. Currently, there are 83 offshore fishing vessels built under Decree 67, mainly concentrated in Hoang Mai, Quynh Luu...

Thu Huyen