Two consecutive storms making landfall in the North have caused many localities to be submerged in mud and flood. Factories were deeply flooded, roads were cut off, production was stagnant, and hundreds of businesses and cooperatives were struggling. Faced with the heavy damage caused by floods, Agribank's timely and proactive intervention has become a solid support, helping customers to revive production. Agribank's actions are not simply a financial solution but also a "rebuilding" of trust and stabilizing social security in affected areas.
Machinery swept away by floodwaters
Natural disasters caused by storms and floods have left serious consequences not only for people but also for businesses, especially at large-scale production facilities such as Mien Viet Cuong Cooperative in Nam Hoa commune, Thai Nguyen city. The flood caused by storm No. 11 Matmo has completely paralyzed this clean vermicelli supply facility.
Floodwaters rose, in just one night, the entire factory was submerged nearly 2 meters deep. More than 200 tons of processed vermicelli, raw materials and finished products along with machinery, soaking tanks, packaging systems with nearly 15 billion were completely destroyed, mud was sticking on the vermicelli, machinery, and thickly coated on the house floor.
Mr. Nguyen Van Ba, Director of Viet Cuong Mining Cooperative, stood in the middle of the ruins, his back was on his back as if he was carrying debts that he did not know when he would be able to repay. His eyes were red and lost between the smoke and mud and moisture. The rough bottle hands every time they squeeze into the tray now can only shake... He cannot speak for words. The silence became a thick, choking voice in the chest: "The water rose so quickly that we couldn't move. In just a few hours, everything was submerged in a muddy water. Every vermicelli set, every bag of raw dong powder that is not submerged in mud and soil will be swept away.
After the water receded, the entire vermicelli factory was lying around, the brick floor was covered with mud and a strong, moist smell. Dozens of workers are still trying to clean up, thinking about the worry about contracts that need to be compensated, Mr. Ba sadly said: "We have been in this job all our lives, but it was a few days without any money. We really dont know where to start.
Not only Viet Cuong Cooperative, not far away, the Netherlands Tourism and Trading Joint Stock Company, a large passenger transport enterprise in Thai Nguyen province, also suffered unprecedented damage.
The continuous heavy rain overnight caused the company's factory area to be deeply flooded. Water flooded into the parking lot, hundreds of vehicles were submerged. Motor oil, spare parts, and components were damaged in large numbers, and dozens of traffic routes had to temporarily stop operations.
Mr. Nguyen Manh Ha - Chairman of the Board of Directors and General Director of the company - shared: "We did not have time to react. Vehicles were flooded, electricity was out, the spare parts warehouse was damaged, the road was cut off... Almost all activities were paralyzed. The team of drivers and staff were all confused, and the revenue was considered unchanged.
This incident completely disrupted the supply chain and passenger transport services, which are the artery of the province. Prolonged outages can lead to a loss of market share and loss of trained human resources.
The estimated damage is about 30 billion VND, but what makes Mr. Ha more worried is the out-of-flow cash flow, while salaries, insurance and repair costs are still piling up. "The enterprise hopes to have some support policy to continue production," said Mr. Ha.
At this time, timely intervention from the financial system is the only lifebuoy to help businesses hold their breath, waiting for the restart date.
Reducing interest rates, restructuring debts, stabilizing livelihoods
In the context of many customers falling into exhaustion, Agribank Thai Nguyen Branch, a unit with many affected businesses, quickly activated emergency support solutions, demonstrating its role as one of the pillar banks.
The entire portfolio of affected credit was reviewed. Lenses have been reduced in interest rates, restructured terms, extended repayment, exempted payment fees and guided to access preferential capital sources to restore production and business.
Mr. Bui Trung Dung - Deputy Director of Agribank Thai Nguyen Branch, shared: "Each loan is a livelihood. When the storm and flood have passed, what customers need most is capital to restore production. Implementing the policies of the State Bank and Agribank, we quickly took action, on the one hand encouraging, on the other hand finding the best way to support customers".
The actual trips of bank staff to each facility and each production household have helped many businesses find a way to restore. For Mien Viet Cuong Cooperative and Dutch Company, this financial support is the most important lifebuoy. That support is not only material but also a humane, timely sharing at the most difficult time.
The prerequisite for businesses and affected production households to be able to recover is to remove debt pressure and access new capital sources. Immediately after the storm, Agribank deployed an emergency process, reducing procedures to assess the level of damage and apply special policies.
For customers like Mien Viet Cuong Cooperative, the old debt is assessed to be able to restructure the repayment period and reduce interest rates, hoping to help the cooperative have time and resources to clean up and repair machinery.
In parallel with the debt extension, Agribank has also actively disbursed new loans with preferential interest rates, focusing on the goal of restarting business. Agribank's proactive and quick participation has received recognition from local authorities.
Mr. Nguyen Van Quang - Chairman of Nam Hoa Commune People's Committee, Thai Nguyen City, said: "The bank's support is not only a capital relief but also a great source of spiritual encouragement. It is that timeliness that has helped the locality maintain social security, helping people soon stabilize their lives".
Viet Cuong Bamboo and Dutch company still have a lot of work to do. But it is worth noting that in the midst of difficulties, they see one hand holding; in the midst of desolation, they believe that they are not left behind.
Agribank does not promise to erase all losses, but the bank is committed to accompanying, providing maximum support, rebuilding trust and supporting the restart of production and business. And that belief, the belief placed in the center will be the driving force for customers to firmly enter the journey of recovery and rise up more strongly.
