Agribank increases preferential credit scale for forestry and fishery sector to 13,000 billion VND

Implementing the policy of the Government and the State Bank, Agribank continues to deploy a preferential credit program for the forestry and fishery sectors with a scale of up to 13,000 billion VND.

It is known that in mid-September 2024, the entire banking sector disbursed the preferential credit program for forestry and fisheries reaching VND 36,000 billion, exceeding VND 6,000 billion compared to the scale of VND 30,000 billion added in February 2024. In particular, Agribank led the disbursement of loans with VND 7,183 billion to more than 5,000 customers. The addition of the scale of the forestry and fisheries credit program at this time aims to promptly meet capital needs at the end of the year.

The preferential interest rate of the forestry and fishery incentive program is at least 1% - 2%/year lower than the average lending interest rate of the same term of Agribank in each period.

Accordingly, the loan recipients of the program are legal entities and individuals with projects/plans to serve production and business in the fields of forestry (forestry and related service activities, purchasing, consuming, exporting, processing, preserving forest products) and aquaculture (exploitation, farming, purchasing, consuming, exporting, processing, preserving aquatic products).

The preferential interest rate of the program is at least 1% - 2% lower per year than the average lending interest rate of the same term of Agribank in each period. Along with the preferential interest rate, customers participating in the program also receive a maximum reduction of up to 50% of service fees for international payment and trade finance fees (import L/C issuance fee, export L/C notification fee, bill of lading endorsement fee, export L/C payment fee, etc.).

After storm No. 3 (Yagi), the forestry and fishery sector, especially in the northern provinces, was severely affected. Many organizations and associations of the fisheries sector have proposed support solutions to help businesses and fish farmers stabilize production soon. In particular, the banking sector increased the scale of the preferential credit program for the forestry and fishery sector to 60,000 billion VND, which is an urgent solution to meet the capital needs to restore production and business.

Agribank is a commercial bank operating mainly in the rural financial market, the proportion of loans to the agricultural, rural and farmer sectors in the years has always been at 65% - 70% of total outstanding loans, Agribank's credit capital has covered 100% of communes nationwide, contributing to promoting economic restructuring in agriculture, actively contributing to the cause of building new rural areas. Outstanding loans to the agricultural and rural sectors of Agribank reached 963 trillion VND, accounting for about 63% of outstanding loans to the economy, accounting for more than 32% of outstanding loans to the agricultural and rural sectors of the entire banking system. Outstanding loans to the forestry and fishery sector reached more than 128 trillion VND/243,275 customers, accounting for 8.37% of outstanding loans to the economy. As of March 31, 2024, Agribank's total outstanding loans for the fisheries sector reached VND 74.5 trillion/15,000 customers, of which: outstanding loans for aquaculture exploitation and farming were VND 42.8 trillion, loans for seafood processing and export were VND 9.2 trillion, loans for seafood business were VND 22.5 trillion; total outstanding loans for the forestry sector reached nearly VND 54 trillion/92,275 customers, of which outstanding loans for the forestry sector were VND 19.2 trillion, and for the wood industry were VND 34.6 trillion.

Corporate and individual customers who need to learn more detailed information about Agribank's preferential credit programs, please contact the Customer Care and Support Center: 1900558818/02432053205 or at 2,300 Agribank transaction points nationwide.

Source: https://phunuvietnam.vn/agribank-tang-quy-mo-tin-dung-uu-dai-linh-vuc-lam-thuy-san-len-13000-ty-dong-20241014162727292.htm