Loans for Livestock Husbandry, Pork, Poultry and Catfish Processing

The State Bank of Vietnam (SBV) recently issued Document No. 5294/NHNN-TD on loans for livestock husbandry, pork, poultry and catfish processing.

 

Accordingly, the SBV asked the chairs of Board of Directors, the chairs of the Board of Members and General Directors of the Vietnam Bank for Agriculture and Rural Development (Agribank), the Bank for Investment and Development of Vietnam (BIDV), Vietnam Bank for Industry and Trade (Vietinbank), the Bank for Foreign Trade of Vietnam (Vietcombank), and Mekong Housing Development Bank (MHB) to instruct loans for households, farms, cooperatives and enterprises to develop husbandry, slaughter livestock, process pork and fowls, culture tra catfish, and process tra catfish for export.

 

The banks were told to review and reassess existing loans as of August 15, 2012, reduce interest rates for eligible existing loans, and extend payment maturity up to 24 months for troubled customers. Banks must continue providing loans for customers with feasible production and business plans with an interest rate of no more than 11 percent per annum.

 

The central bank pledged to provide assistance for the State-owned commercial lenders in case they face troubles in this business.