Agribank Tuyen Quang: Creating conditions for customers to access preferential capital sources

Model of fattening cattle in barns of Hoang Thuc Cooperative, Yen Nguyen commune (Chiem Hoa).

With more than 3 billion VND borrowed from Agribank Tuyen Quang, Ms. Nguyen Thi Uyen, Director of Hoang Thuc Yen Nguyen Cooperative (Chiem Hoa) has built a large-scale fattening cattle farm. According to Ms. Uyen, before having no capital, she raised 10-20 cows/batch, Agribank created conditions for her to access preferential capital to expand her barn. Currently, the barn system is always maintained at 250 cows/batch. Applying a circular production process, Ms. Oanh raises earthworms to feed eels with livestock waste. Ms. Uyen shared that with the support of Agribank, Hoang Thuc Cooperative has developed sustainably, currently with an annual revenue of nearly 3 billion VND, creating regular jobs for 5 workers.

The family of Ms. Dao Thi Kim Oanh, Minh Phu village 1, Yen Phu commune (Ham Yen) is also getting rich from Agribank's capital. Ms. Oanh shared that 10 years ago, her family grew oranges, but over time, the orange trees became old and the economic efficiency was low. In 2015, her family switched to growing red-fleshed dragon fruit. Fortunately, during the difficult period, her family was able to access preferential loans from Agribank. With capital, Ms. Oanh's family converted the production model, bringing in very high economic efficiency. Ms. Oanh boasted that currently her family's dragon fruit farm has over 7,000 dragon fruit pillars, each year yielding about 150 - 160 tons of fruit, deducting expenses, each year earning 300 - 400 million VND/year.

According to the leader of the General Department of Agribank Tuyen Quang Branch, household economy, small and medium enterprises - the components that play an important role in economic development, are always strategic customers and are prioritized by Agribank to devote a large amount of resources to build policies and products to meet customer needs. Create all conditions to expand loans and use banking products and services. Agribank also always values ​​and puts the interests of both parties first.

To increase capital absorption for customers, Agribank is implementing credit programs and packages to support customers such as: Resolution No. 03/NQ-HDND of the province on lending for the development of agricultural, forestry and fishery production; OCOP products and new rural construction in the period of 2021 - 2025; credit program for the forestry and fishery sector with an expected scale of about 3,000 billion VND, helping businesses maintain stable production.

Eel farming model of Hoang Thuc Cooperative, Yen Nguyen commune (Chiem Hoa).

Also according to the leader of the General Department of Agribank Tuyen Quang, although having to compete to mobilize capital according to market mechanisms, each year, Agribank still spends thousands of billions of VND to support low-interest loans for customers, together to overcome difficulties, restore and develop production and business, especially in the fields of agriculture and rural areas.

Agribank has adjusted lending interest rates down many times, interest rates on new regular loans have decreased by 2-4%/year compared to the beginning of the year; adjusted interest rates down by a maximum of 3% for customers who are legal entities borrowing capital for the purpose of real estate business and facing difficulties; adjusted interest rates down by at least 0.5% for customers with existing medium and long-term outstanding loans in VND at Agribank.

In the coming time, Agribank will continue to implement the Government's and the State Bank's credit support programs, in which Agribank will continue to flexibly manage interest rates, strive to reduce costs, continue to reduce input interest rates to reduce lending rates; promote preferential interest rate credit programs for cooperatives and import-export enterprises; diversify credit products suitable for customer segments, by industry, field, and by location; standardize processes, minimize procedures and loan approval time; promote communication channels so that information about preferential loan programs reaches a wide range of customers, including businesses.

Source: https://baotuyenquang.com.vn/agribank-tuyen-quang-tao-dieu-kien-cho-khach-hang-tiep-can-nguon-von-uu-dai-197344.html