15,000 billion VND to support the Forestry and Fisheries sector with low interest rates

Implementing the direction of the Government and the Prime Minister on researching and proposing a credit package of 10,000 billion VND to support enterprises in the forestry and fishery production and processing sector", based on the consensus and registration documents of commercial banks; on July 14, the State Bank of Vietnam issued Document 5631/NHNN-TD, guiding commercial banks to implement the Credit Program for the Forestry and Fishery sectors.

The State Bank of Vietnam has just issued a document guiding commercial banks to implement the Credit Program for the Forestry and Fishery sectors. (Illustration photo)

The credit package with a scale of 15,000 billion VND is applied to customers who borrow capital with projects and plans to serve production and business in the forestry and fishery sectors. The lending interest rate is at least 1% - 2% lower per year than the average lending interest rate of the same term (short-term; medium-term, long-term) applied by the lending bank in each period. This credit package is implemented until June 30, 2024.

In addition, commercial banks, according to their authority, shall exempt or reduce service fees for customers participating in this program, in accordance with legal regulations and the scale of the bank's operations.

"The program is implemented with self-mobilized capital from banks and loans are made according to normal commercial mechanisms. To date, 12 commercial banks have registered to participate.

Thus, along with the monetary, credit and interest rate solutions that have been implemented in the past, the implementation of the Loan Program for the Forestry and Fisheries sectors continues to demonstrate the spirit of companionship of the banking sector in supporting people and businesses to overcome difficulties, stabilize and maintain production and business activities, in line with the policy of the Government and the Prime Minister on removing difficulties, supporting production and business and promoting growth drivers of the economy ," said the State Bank.

Thanh Lam

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