DAF Lends US$670Mln to Local Exporters in 2005
The State-run Development Assistance Fund (DAF) gave short-term loans worth nearly VND11 trillion (US$670 million) to local exporters last year, according to a report of the fund.
The lending, which increased by 6 per cent from the previous year, helped promote the export of traditional products such as rice, seafood, cashew nuts, coffee and vessels, it said.
At present, DAF is specializing in providing preferential credit for local export projects and infrastructure projects.
To make best use of its functions, the Ministry of Finance has asked the Government to restructure the fund and change it into the Development Bank of Vietnam.
During 2000-2004, DAF offered total lending worth over VND69 trillion (US$4.39 billion) for around 6,600 projects.
The People
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