Agribank to support 100pct interest rate for agriculture loans

13-Jun-2014 Intellasia | Dau Tu Chung Khoan | 6:00 AM Print This Post

Vietnam Bank for Agriculture and Rural Development (Agribank) has recently launched a lending programme with the lowest rate to serve agriculture and rural area.

Accordingly, for loans to buy machineries and equipments to reduce the losses in agriculture sector, the bank will support 100 percent of the loan rate in the first two years and 50 percent in the third year.

For loans to invest in machinery line projects and equipments to reduce the losses in agriculture, mechanical manufacturing projects and agricultural production equipments, the bank will support the difference between the lending rate for medium and long term loan in dong and the state’s development investment credit rate.

As of May 25, 2014, Agribank’s total outstanding loans for agriculture and rural area reached 380.554 trillion dong, accounting for 71.7 percent of the bank’s total loans.


Category: Finance

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