HCMC – Vietnam Bank for Agriculture and Rural Development (Agribank) on Monday announced a credit package worth VND10 trillion for exporters with a lending rate of 12% per year.
By Truong Nam - The Saigon Times Daily
HCMC – Vietnam Bank for Agriculture and Rural Development (Agribank) on Monday announced a credit package worth VND10 trillion for exporters with a lending rate of 12% per year.
The loans will have a six-month term, focusing on clients with demand for Vietnam dong to produce, purchase, process and export agro-products and other items, according to a statement of Agribank.
Customers are required to sell the foreign currency they gain from export to Agribank, at least equivalent to the amount of dong they borrow.
According to a report of Agribank, as of May 25, the outstanding loans for the agriculture and rural sector at the bank had reached nearly VND304 trillion, accounting for 70% of the bank’s total outstanding loans.
The outstanding loans for coffee, seafood, food, pepper, cashew, rubber, tea and livestock farming was over VND107 trillion. In comparison with January, the outstanding loans of livestock and seafood farming recorded the strongest growth, 8.46% and 6.58% respectively, equivalent to VND3.9 trillion and VND1.35 trillion.