SBV urges credit lending for agriculture loss reduction

11:12 | 18/08/2015 Finance - Banking

The State Bank of Vietnam (SBV) recently requested commercial banks to strictly implement a Government support credit lending programme which aims to help famers and businesses operating in agriculture minimise their post-harvest losses.

SBV urges credit lending for agriculture loss reduction

Illustrative image (Source: VNA)

The programme is being carried out under the Prime Minister’s Decision 68/2013/QD-TTg dated November 14, 2013 on support policies to reduce post-harvest losses in agriculture.

Accordingly, commercial banks were asked to provide information related to procedures and conditions for borrowers, facilitating their access to loans.

Decision 68 was issued as part of efforts to realise Resolution 48/NQ-CP on mechanisms and policies to reduce post-harvest farm produce and aquatic product losses, contributing to promoting agricultural restructuring.

Thanks to support policies, farmers have purchased machines and equipment serving production, processing and storing of agro-forestry and fishery products.

A report by the SBV showed that by July 30, total lending capital in the programme had reached 3.47 trillion VND (159 million USD) with outstanding loans of 2.44 trillion VND (111 million USD), up 32 percent from December 31 last year./.

Source: VNA

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