Forestry and fishery enterprises get loan interest rate reduction of 1-2%/year

In order to implement the direction of the Government and the Prime Minister on assigning the State Bank of Vietnam to "Research and propose a credit package of VND 10,000 billion to support enterprises in the forestry and fishery production and processing industry"; based on the consensus and registration documents of commercial banks; on July 14, 2023, the State Bank issued Document 5631/NHNN-TD, guiding commercial banks to implement credit programs for the forestry and fishery sector.

Accordingly, from now until June 30, 2024, customers with projects/plans serving production and business activities in the forestry and fishery sectors will be able to borrow capital at an interest rate at least 1-2% lower per year compared to the average lending interest rate for the same term (short-term; medium-term, long-term) applied by the lending bank in each period.

In addition, the State Bank also assigned banks, according to their authority, to exempt and reduce service fees for customers participating in this program, ensuring compliance with legal regulations and the scale of the bank's operations.

The credit scale of the program for the forestry and fishery sector is about 15,000 billion VND (higher than the expected package of 10,000 billion VND).

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 in the program.

Including, Vietnam Bank for Agriculture and Rural Development, Vietnam Joint Stock Commercial Bank for Investment and Development, Vietnam Joint Stock Commercial Bank for Industry and Trade, Vietnam Joint Stock Commercial Bank for Foreign Trade, Lien Viet Post Joint Stock Commercial Bank, Saigon Thuong Tin Commercial Joint Stock Bank, Military Commercial Joint Stock Bank, Asia Commercial Joint Stock Bank, Nam A Commercial Joint Stock Bank, Orient Commercial Joint Stock Bank, Vietnam Export Import Commercial Joint Stock Bank, Saigon - Hanoi Commercial Joint Stock Bank.

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 fishery 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 .

Source: https://www.nguoiduatin.vn/doanh-nghiep-nganh-lam-thuy-san-duoc-giam-lai-suat-cho-vay-1-2nam-a617987.html