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Commercial banks urged to implement credit programs for forestry and fishery |
The state bank had issued guidelines that commercial banks should carry out credit programs for businesses in the forestry and fishery sectors following the Government and the Prime Minister’s direction.
The State Bank was asked by the Government and the Prime Minister to study and propose a credit package of VND 10,000 billion (US$ 422,291,462) to support enterprises in the sectors.
Borrowers are customers who have plans for production and business activities in the forestry and fishery sectors. The lending interest rate is in Vietnamese dong and is at least 1 percent-2 percent per year lower than the average lending interest rate of lending banks in the same term.
The program's credit scale is about VND 15,000 billion. The program will be implemented until June 30, 2024. In addition, commercial banks can reduce service fees for customers participating in this program in accordance with legal regulations and the size of the bank's operations
According to the State Bank, 12 commercial banks have so far registered to participate in the program.
