Transactions at VietA Bank in Hanoi. (Photo: VietA Bank)
 
Hanoi (VNA) - VietABank has offered a preferential loan totalling 500 billion VND (22 million USD) to support businesses in hi-tech agriculture.

Companies, households and agricultural production units could be given loans to invest in agricultural machines and equipment, expand production scale, buy fertilisers or spend on irrigation, harvesting and plant protection products.

Preferential credit will be applied in the 2017-20 period.

VietABank has also offered a 1.5 trillion VND preferential loan to startups including firms in hi-tech agriculture.

With the two loan packages of 2 trillion VND, the bank is expected to share businesses’ difficulties and support the Government in promoting startup activities.

Earlier, the bank also introduced its preferential policies for companies entering the agricultural sector.

Local enterprises have faced difficulties relating to land funding, technology and capital.

Statistics showed that the number of businesses in agriculture has been modest, with only 4,000 out of 600,000 firms operating in the sector.

Le Xuan Vu, VietABank’s general director, said the bank had focused on developing agricultural value and technological value chains.

In addition, the bank introduced many loans with preferential interest rates over a period of several years to support businesses.

The bank would build many suitable products and programmes to strengthen its commitment to further support firms. — VNA