Agribank musters up loans for Mekong-Delta

14-Nov-2014 Intellasia | VNA | 6:00 AM Print This Post

The Vietnam Bank for Agriculture and Rural Development (Agribank) plans to muster up its loans for the key economic region of Mekong Delta.

Pham Hong Son, head of the bank’s customers division, said that Agribank will pour cash into the region, a large market that is yet to be fully tapped, with a view to boosting its economic growth.

Despite difficulties, Agribank loans given to the delta have increased from 84,960 billion VND (4 billion USD) from 74.3 trillion VND (3.5 billion USD) in 2012 to 85 trillion VND (4.07 billion USD. The amount in the first nine months of this year was 86.6 trillion VND (4.1 billion USD), accounting for 15.48 percent of the country’s total loan.

Areas that see the largest amount of loans are agriculture, aquaculture, retail and whole sales, import-export and production industry.

Agribank’s customers in the region now number 886,780, making up 24.34 percent of the bank’s total in the country, Son said.

In order to make this capital effective, he suggested the government and the State Bank provide state-owned and private enterprises with an equal access to loans and facilitate their settlement of loan-related issues while launching policies to support training and stabilise the export price of agricultural products.

The State should create conditions for small- and medium-sized enterprises to dominate the domestic market, he added.

 


Category: Finance, Vietnam

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