The preferential credit program for the forestry and fishery products sector is a solution to overcome difficulties for individuals, business households and enterprises under the direction of the Government.
After more than 11 months of implementation, the credit program has been disbursed to customers smoothly and quickly, bringing positive effects to the forestry and fisheries industry.
Agribank implements the program with preferential interest rates at least 1% - 2%/year lower than the average lending interest rate of the same term, financing forestry activities, related service activities, and revenue. purchasing, consuming, exporting, processing, preserving forest products and exploiting, cultivating, purchasing, consuming, exporting, processing, and preserving aquatic products.
Along with preferential interest rates, Agribank proactively waives and reduces service fees for international payment fees, trade financing and a number of other service fees.
To date, Agribank is the leading bank disbursing preferential credit programs for forestry and fisheries with 7,183 billion VND to more than 5,000 customers. Of which, 5,539 billion VND is for projects and production and business plans in the fisheries sector and 1,644 billion VND is for the forest products sector.
In the first phase of program implementation, Agribank registered with the State Bank to provide 3,000 billion VND of preferential credit capital to the market. With the need for cheap, stable loans to develop and expand production, business and export of the forestry and fishery products sector, after only 5 months, Agribank has disbursed more than the target and registered Additional signings, nearly 3 times the scale of the program to continue disbursement to serve people and businesses.
With the determination to direct the Government and the State Bank on economic development of forestry and fisheries and the efforts of commercial banks, including Agribank, forestry and fisheries output as well as turnover Export of forestry and fishery products in the first 6 months of 2024 recorded positive growth, especially export turnover improved significantly compared to the same period in 2023.
Currently, Agribank is proactively spending 200,000 billion VND to implement preferential credit programs, including many programs suitable for individuals and businesses operating in the field of forestry and fisheries such as: Agribank accompanies OCOP; incentives for individual customers serving production and business activities; lending to SMEs; Incentives for import and export businesses…
With signs of positive recovery in the forestry and fisheries sectors, Agribank lends in a chain from farmers to processing and purchasing units for export, after fully disbursing the scale of VND 8,000 billion of the credit program. Using incentives, Agribank will continue to request the State Bank to increase the program scale or proactively develop preferential credit programs for this field.
