Support for Post-harvest Loss Reduction

The Governor of the State Bank of Vietnam (SBV) issued the Circular No.22/2012/TT-NHNN, effective from August 10, 2012, on the subsidy policy to reduce losses for farmers following their agricultural and aquatic harvesting, in place of the Circular No.03/2011/TT-NHNN.

 

Accordingly, institutions, households and individuals who make borrowings to purchase machines and equipments with the aim of reducing their losses following the harvesting and investing in the projects to store 4 million tonnes of rice and maize, and aquatic products (including cold storage in fishing vessels), vegetables, fruit, and coffee and in the projects to manufacture agricultural machineries and equipment to reduce losses following their harvesting. The circular also provides loans with subsidized and investment development interest rates and stipulates in detail the rights and obligations of the creditors and the borrowers.

 

Five participating banks include the Vietnam Bank for Agriculture and Rural Development (Agribank), the Mekong Housing Bank (MHB), the Bank for Investment and Development of Vietnam (BIDV), the Vietnam Bank for Industry and Trade (Vietinbank), and the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank).