Nghe An deploys 15,000 billion VND preferential loan package for forestry and aquatic products
(Baonghean.vn) - The State Bank of Vietnam, Nghe An branch, said it has issued a document guiding banks to implement a lending program for the forestry and fishery sectors.
Implementing the direction of the Government and Prime Minister on focusing on removing difficulties to promote production and export for the Forestry and Fisheries sectors, the State Bank of Vietnam (SBV) is assigned to“Research and propose a credit package of 10,000 billion VND to support businesses in the forestry and fishery production and processing industry.The State Bank has developed a credit support program for the two sectors of Forestry and Fisheries and issued Document 5631/NHNN-TD, guiding commercial banks to implement it.
Regarding loan subjects: Customers with projects/plans serving production and business activities in the forestry and fishery sectors. Loan interest rate in Vietnamese Dong: at least 1% - 2%/year lower than the average loan interest rate of the same term (short-term, medium-term, long-term) applied by the lending bank in each period. Implementation period until June 30, 2024.
The credit package is about 15,000 billion VND (higher than the expected package of 10,000 billion VND).
In order to contribute to the effective implementation of the Credit Support Program for the two above-mentioned Forestry and Fishery sectors, in Official Dispatch No. 836/NGA-THKS dated July 18, 2023, the State Bank of Vietnam, Nghe An Branch, requests commercial banks in the area to closely follow the guidance documents of the Head Office to implement the program at the unit under its authority to exempt and reduce service fees for customers participating in the program in accordance with the provisions of law, internal regulations and scale of operation of the unit.
Mr. Doan Manh Ha - Deputy Director of the State Bank of Vietnam, Nghe An branch said: Banks lend capital to customers to implement the program using capital mobilized by the bank; are responsible for reviewing, appraising, and deciding to lend to customers according to the provisions of law, internal regulations on lending and are responsible for their lending decisions. At the same time, they classify debts, set up provisions and handle risks for loans under the program according to current regulations.
The State Bank of Vietnam, Nghe An Branch, also requested banks to continue to effectively implement relevant instructions of the State Bank of Vietnam, Branch, in Official Dispatch No. 666/NGA-THKS dated June 12, 2023 on implementing credit solutions for the forestry and fishery sectors.
Previously, at a conference with the Vietnam Timber and Forest Products Association and the Vietnam Association of Seafood Exporters and Producers to remove difficulties and promote the production and export of forestry and aquatic products, Prime Minister Pham Minh Chinh concluded that the State Bank of Vietnam should proactively, effectively and appropriately manage credit to provide credit capital; continue to have solutions to reduce loan interest rates to support businesses, especially export businesses; direct credit to production and business, priority areas - including fisheries and forestry products; create favorable conditions for enterprises producing and processing aquatic products, timber and forestry products to access credit capital to serve production and business, creating opportunities to promote livelihoods for farmers and fishermen. Along with that, the Prime Minister also directed the State Bank of Vietnam to continue implementing support policies and preferential policies; study and propose a credit package of VND 10,000 billion to support businesses in the forestry and aquatic product production and processing industry.
It is known that there are currently 12 commercial banks registered to participate in the above Program, including Vietnam Bank for Agriculture and Rural Development (Agribank), Vietnam Joint Stock Commercial Bank for Investment and Development (BIDV), Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank), Vietnam Joint Stock Commercial Bank for Foreign Trade (Vietcombank), Lien Viet Post Joint Stock Commercial Bank (LPBank), Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank), Military Commercial Joint Stock Bank (MB), Asia Commercial Joint Stock Bank (ACB), Nam A Commercial Joint Stock Bank (Nam A Bank), Orient Commercial Joint Stock Bank (OCB), Vietnam Export Import Commercial Joint Stock Bank (Eximbank) and Saigon - Hanoi Commercial Joint Stock Bank (SHB).
