Immediately after the Project "Sustainable development of one million hectares of high-quality, low-emission rice cultivation associated with green growth in the Mekong Delta by 2030" was issued, with the determination of the participating parties, many localities in the Mekong Delta region have launched the first high-quality rice cultivation models, applying strict sustainable farming processes such as using certified varieties, applying alternating wet and dry water management, applying specialized fertilization in specialized areas combined with organic fertilizer for rice...

In order to effectively implement the Party and State's policies on agricultural, farmer and rural development to 2030, with a vision to 2045, Agribank and the Ministry of Agriculture and Rural Development have signed a Memorandum of Understanding to implement the Cooperation Program to provide banking products and services to subjects under the 1 million hectares of high-quality rice project. Accordingly, Agribank consults, supports and provides banking products and services such as: deposit services, loan services, financial services... in accordance with the project's objectives for participating subjects.

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In the total investment of about 800 million USD to implement the Project to develop 1 million hectares of high-quality rice, Agribank will be the main bank providing credit capital.

The project to develop 1 million hectares of high-quality rice is currently being piloted in 5 provinces and cities: Can Tho, Soc Trang, Tra Vinh, Kien Giang and Dong Thap. Agribank branches in 12 provinces and cities implementing the project have proactively approached, consulted and provided information to the subjects participating in the project on policies, processes, credit procedures, banking products and services, while also understanding the demand for loans and perfecting appropriate credit products.

Agribank will be the key bank providing credit capital through preferential credit programs to support the linkage of production, processing and consumption of high-quality, low-emission rice products in the Mekong Delta. Currently, Agribank is participating with the State Bank to develop a preferential credit program to serve the project, with lending targets being individuals, farming households, cooperatives, cooperative unions and participating enterprises.

As a key commercial bank in the "agricultural and rural areas" sector, Agribank is completing the necessary conditions, preparing capital sources, and banking and financial services to accompany farmers in participating in the project of developing new modern agriculture, a model that keeps up with the trend of sustainable development. Thereby, contributing to improving the quality of agricultural products associated with reducing emissions, sustainability in the context of market fluctuations and consumption trends; helping farmers link to implement the value chain of the rice industry, increase income, and improve their lives.

Together with the Ministry of Agriculture and Rural Development, Agribank participates in projects related to agricultural development towards modernization, sustainability, environmental friendliness and emission reduction in the cultivation, harvesting and processing process: Pilot project to build a standard agricultural and forestry raw material area for domestic consumption and export in the period 2022-2025; rice and fruit raw material area in the Mekong Delta...

In recent years, Agribank has expanded investment in projects related to environmental protection, improving the quality and safety of agricultural products, developing coastal resources for sustainable development; managing natural disaster risks; supporting low-carbon agriculture; providing clean water and combating drought and saltwater intrusion...

Affirming its pioneering role and responsibility for the country's socio-economic development, accompanying the Government and the banking sector in implementing the National Strategy on Green Growth, Agribank identifies promoting green credit, implementing ESG, and aiming for sustainable development as important goals in its business development strategy. With the key role in providing capital and financial services to the "agricultural" sector, Agribank is determined to implement the commitments and directions of the Government, the State Bank, ministries and branches on promoting green growth, managing environmental and social risks in credit granting activities, and building a safe and sustainable agricultural sector.

Ngoc Minh