Nghe An: Outstanding loans for agricultural and rural development account for over 40%

(Baonghean.vn) - In 2017, the total outstanding debt of credit institutions in the area is estimated at 167,800 billion VND, an increase of 15.6%, of which outstanding loans for agricultural and rural development account for over 40%.

According to the State Bank of Vietnam, Nghe An branch, the capital mobilized by credit institutions in the area is estimated to reach VND107,628 billion for the whole year, up 16.2%. The total outstanding loans of credit institutions in the area are estimated to reach VND167,800 billion, up 15.6%; medium and long-term credit accounts for 62%.

Many economic models are invested from loans under Decree 55/2015/ND-CP. In the photo: Mr. Le Van Khoi's tangerine garden in Hamlet 6, Nam Thai, Nam Dan. Photo: Viet Phuong

Excluding the Vietnam Development Bank Nghe An branch, the total outstanding debt in the area is estimated at VND 147,326 billion, up 18.1%; outstanding loans outside the area account for about 12.6% of the total outstanding debt. The bad debt ratio accounts for about 0.8% of the total outstanding debt.

Outstanding loans for agricultural and rural development (excluding the Bank for Social Policies) alone are estimated at nearly VND 64,538 billion, accounting for 43.8% of total outstanding loans, up 13% compared to the end of 2016.

According to the assessment of the State Bank of Vietnam, Nghe An branch, the coordination in implementing Decree 55/2015/ND-CP on credit policy for agricultural and rural development in recent years has had good results.

However, surveys in districts show that some people when borrowing capital for rural agricultural development have not yet been exempted or reduced from certification fees and secured transaction registration fees as prescribed in Decree 55/2015/ND-CP of the Government./.

Viet Phuong