Agribank expands preferential credit package for agriculture, forestry and fishery

Implementing the Government's policy, the Prime Minister's direction and the State Bank's direction on ensuring production, consumption and export of agricultural, forestry and fishery products, contributing to promoting economic growth, Agribank expanded the scope of implementing the preferential credit program for the agricultural, forestry and fishery sector with a scale of 20,000 billion VND.

Agribank increases the scale of the credit package for agriculture, forestry and fishery to 20,000 billion VND.

Agribank is the first bank to implement a preferential credit program for the forestry and fishery sector with an initial registered scale of 3,000 billion VND.

Realizing the large capital demand from the market and positive signals, in 2024, Agribank registered twice with the State Bank, increasing the scale of participation in the program to 13,000 billion VND.

After the Government and the State Bank increased the scale of the program to 100,000 billion VND and expanded it into a preferential credit program for the agriculture, forestry and fishery sectors, Agribank quickly expanded the scope of capital provision (adding the agricultural sector) and increased the scale to 20,000 billion VND.

Of which, loans for agricultural products are up to 5,000 billion VND; loans for forestry products are up to 3,500 billion VND; loans for fisheries are up to 11,500 billion VND.

The program's loan beneficiaries are legal entities and individuals with projects/plans to serve production and business in the fields of agriculture, forestry and fishery.

Specifically: The agricultural sector includes loans for cultivation and livestock; purchasing, consumption; processing, preservation of agricultural products and mixed purposes. The forestry sector includes loans for forestry and related service activities; purchasing, consumption; processing, preservation of forest products and mixed purposes. The fisheries sector includes loans for exploitation and aquaculture; purchasing, consumption; processing, preservation of aquatic products and mixed purposes.

The preferential interest rate of the program is at least 1.0% - 2.0%/year lower than the average lending interest rate of the same term (short-term; medium-term, long-term) of Agribank in each period.

Agriculture, forestry and fishery have always been identified by Agribank as one of the key priority areas for capital investment, accounting for about 26% of the total outstanding loans of the entire system. Actively implementing the provision of preferential credit capital to serve the agriculture, forestry and fishery sectors is a specific commitment of Agribank to accompany and remove difficulties for people and businesses, firmly upholding the mission of serving the development of "Tam Nong" to promote the supporting role of the economy , contributing to promoting the country's economic growth.

Source: https://nhandan.vn/agribank-mo-rong-pham-vi-goi-tin-dung-uu-dai-nong-lam-thuy-san-post881629.html