Farmer association loans members US$37 million to develop home businesses

For ten years, the Farmer Association in Ho Chi Minh has loaned its member VND859 billion (US$37 million) to develop household businesses.
A farmer uses the loan for growing mushroom (Photo: SGGP)
A farmer uses the loan for growing mushroom (Photo: SGGP)
At its conference to review ten-year implementation of the project “ Renovating and improving fund to help farmers for the 2011-2020 period” yesterday, the Farmer Association announced to loan 38,804 farmers VND859 billion to develop their household businesses as well as assist cooperatives to expand more.
Farmers have been decisive to invest VND1,718 billion in expanding and growing their entrepreneurial families to raise their income and create employment for 97,010 local laborers.
In fact, the sum is too small to help farmers invest in high-tech; therefore, just a few farmers have been applying technologies and participating in cooperatives. Accordingly, models of farmers who have been using the loan effectively for their businesses should be popularized.

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