Agribank to Lend More to Rice Purchase

The governor of the State Bank of Vietnam (SBV) the state-owned Bank for Agriculture and Rural Development (Agribank) to offer loans to help exporters buy 500,000-600,000 tonnes of rice in Mekong Delta region.

 

Accordingly, Agribank will provide loans for Vietnam Southern Food Corporation and Vietnam Northern Food Corporation to purchase 500,000 – 600,000 tonnes of rice in Mekong Delta-based provinces. The Ministry of Agriculture and Rural Development assigned Vietnam Southern Food Corporation to buy 350,000 tonnes and Vietnam Northern Food Corporation 150,000 tonnes.

 

Besides, Agribank will offer loans at their lowest interest rate under the current lending frame. The central bank will pay the lending interest for Vietnam Southern Food Corporation and Vietnam Northern Food Corporation.