Vietcombank deploys 3,000 billion VND preferential credit for high-quality, low-emission rice

Vietcombank commits to implementing the Loan Program for the rice industry publicly, transparently, promptly, to the right subjects, and for the right purposes - Photo: Vietcombank

Pursuant to the Prime Minister's direction in Notice No. 508/TB-VPCP dated November 5, 2024 and the State Bank's guidance document in Official Dispatch No. 8364/NHNN-TD dated October 11, 2024, Vietcombank announced the implementation of the Loan Program linking production, processing and consumption of high-quality and low-emission rice products in the Mekong Delta with a scale of 3,000 billion VND.

The loan objects are customers participating in the production, processing and consumption of high-quality and low-emission rice products in the Mekong Delta region that satisfy the regulations, conditions and lending policies of Vietcombank.

The Program implementation period is until December 31, 2025. The loan interest rate during the program implementation period is at least 1% lower than the normal loan interest rate of the same term applied by Vietcombank in each period.

Detailed terms and conditions of the Program are specified in the State Bank's instructions and Vietcombank's instructions.

As a leading commercial bank in Vietnam, always proactively implementing the management policies of the Government and the State Bank, Vietcombank commits to deploying the Loan Program for the rice industry publicly, transparently, promptly, to the right subjects, and for the right purposes for customers who meet the Program's conditions with the goal of forming 1 million hectares of high-quality and low-emission rice cultivation areas associated with reorganizing the production system according to the value chain, applying sustainable farming processes, increasing value, sustainably developing the rice industry, improving production and business efficiency, income and life of rice growers, protecting the environment, adapting to climate change and reducing greenhouse gas emissions, contributing to the implementation of Vietnam's international commitments.

Deputy Governor of the State Bank of Vietnam Dao Minh Tu affirmed: The project of 1 million hectares of high-quality rice according to Decision 1490/QD-TTg of the Prime Minister is one of the most important contents. If this project is implemented resolutely with the direction of the Prime Minister, by 2030 we will have 1 million hectares of high-quality rice, achieving the dual goal of both improving rice quality and ensuring environmental protection and reducing emissions at present.

The State Bank's leaders said that the Government's leaders have closely directed and have many clear policies and mechanisms, but it still requires the synchronous and close participation of all ministries, branches and local authorities to create preferential mechanisms and policies and bring real benefits to those participating in this chain.

To contribute to the achievement of the goal in the coming time, Deputy Governor Dao Minh Tu said that the banking sector will step up propaganda to all enterprises, cooperatives and farmers participating in this chain as beneficiaries. On its part, the State Bank will continue to direct banks to widely deploy these programs, ensuring compliance with regulations on beneficiaries and the set contents.

Mr. Minh

Source: https://baochinhphu.vn/vietcombank-trien-khai-3000-ty-dong-tin-dung-uu-dai-cho-gao-chat-luong-cao-phat-thai-thap-102250328171029728.htm