Nhan Dan – The Governor of the State Bank of Vietnam (SBV) issued Document No.6368/NHNN-TD on August 15 requesting commercial banks to provide more loans for the food and foodstuff production.
According to the document, the SBV is asking commercial banks to continue adjusting credit structure and improving credit quality, and prioritise capital for agriculture to maintain and expand food production.
Commercial banks should offer loans with reasonable interest rates for agricultural production, particularly for projects that have been proven effective, and implement the credit policies for agricultural and rural development outlined in Government Decree No.41/2010/ND-CP and SBV Circular No.14/2010/TT-NHNN.
The banks also need to focus their capital priorities on areas in need of investment for food production so the demand for food in big cities and populous areas can be met.
Loans should be monitored and reviewed regularly to promptly detect and handle any credit issues that may arise.