Credit Lending for Agricultural Loss Reduction

The State Bank of Vietnam (SBV) recently issued Document No. 6023/NHNN-TD requesting commercial banks to strictly implement a Government support credit lending programme which aims to help famers and agribusinesses to minimise their post-harvest losses in accordance with Prime Minister’s Decision No. 68/2013/QD-TTg dated November 14, 2013 on support policies to reduce post-harvest losses in agriculture.

 

Decision 68 is a major policy decision of the Government to assist farmers and agribusinesses to purchase machinery and equipment to minimise losses in agriculture, contributing to promoting agricultural restructuring. To accelerate the pace of disbursement for the programme, the central bank told commercial banks to see this credit programme as an act of political significance to serve the mechanisation process, reduce losses and improve efficiency in agricultural production. Commercial banks directed their branches and transaction offices to seriously carry out the credit support programme as specified by Decision 68 and guidelines of relevant ministries. Bank branches and transaction offices must make public notices on beneficiaries, processes and procedures on this regard.