SBV urges banks to help rice farmers with loans

The State Bank of Vietnam promised that farmers and firms will be given suitable loans for rice production in the Mekong Delta.

SBV urges banks to help rice farmers with loans

Photo for illustration (source: VNA)

At the conference on February 26 about promoting rice sales in the Mekong Delta, Le Minh Hung, governor of the SBV, said that there would be enough fund to meet farmers and businesses' demands, in accordance with the prime ministerial directives.

Dao Minh Tu, deputy governor of the SBV asked banks to actively connect with firms to ask about their difficulties and have suitable solutions such as delay payment deadlines or offer new loans or increase credit limits for businesses in order to prevent rice prices from falling.

They were also asked to work with provincial authorities to better deal with the situation.

Many banks at the conference such as Agribank, Vietcombank and Sacombank committed to providing enough fund for rice production, sale and promotion. Nghiem Xuan Thanh, chairman of Vietcombank, said they would add over VND 9 trillion to the fund for rice farmers and businesses.

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