OCB Lends VND1 Trillion for Rice Stocking

Based on Decision 311/QD-dated of the Prime Minister dated February 7, 2013, the State Bank of Vietnam (SBV) issued Official Document 995/NHNN-TD to approve the Orient Commercial Joint Stock Bank (OCB) lending for rice stockpiling in the winter-spring crop in 2012-2013. OCB is one of a few commercial joint stock banks to grant such a credit, aimed at regulating the rice market to ensure good production and export of the strategic commodity for farmers and businesses. OCB said all resources are ready for this programme.

 

Accordingly, OCB will lend to enterprises assigned by the Vietnam Food Association to stock rice harvested in the winter-spring crop in 2012 - 2013. The lending period will span from February 20, 2013 to March 31, 2013. The State Budget will grant the entire interest carrying through May 20, 2013.