We will subsidize 100% of the interest on loans for purchasing agricultural machinery.

The Ministry of Finance announced that it is finalizing a circular guiding the provision of interest rate subsidies for loans and compensation for interest rate differentials to reduce losses in agriculture.

Some types of machinery have a positive impact in reducing post-harvest losses.

Accordingly, for loans to purchase machinery and equipment for agricultural production, the State will subsidize 100% of the interest rate for the first two years and 50% of the interest rate for the third year.

The maximum loan amount for interest rate subsidies is 70% of the project value. The State will base the interest rate subsidy on the lowest lending interest rate for agriculture and rural areas offered by commercial banks. The interest rate for development investment credit is issued by the Ministry of Finance for each period.

According to VTV Online