A transaction office of Agribank (Photo: Agribank)

Hanoi (VNA) – Deputy General Director of the Vietnam Bank for Agriculture and Rural Development (Agribank) Pham Toan Vuong has had a working session with representatives from Yanmar, a Japanese agricultural machinery manufacturer. 

At the September 11 working session, the two sides reviewed their past cooperation and discussed potential for future collaboration.

In October 2017, Yanmar Vietnam and Agribank signed an agreement on cooperation in implementing solutions, support policy packages and strategic cooperation programmes through Yanmar’s official agents and the network of branches and transaction offices of Agribank nationwide.

After nearly one year, Agribank has created conditions for its customers to get loans to purchase machinery and equipment distributed by Yanmar Vietnam in line with the bank’s current regulation and Vietnamese law.

By August 31, 2018, the Agribank system had provided loans worth over 200 billion VND (8.58 million USD) in total for 430 customers.

Yanmar Vietnam has also realized its commitment when partnering with the Agricultural Bank Insurance Company (ABIC) to present machinery insurance to all Agribank customers who borrow money to buy agricultural machines.

Aribank and Yanmar Vietnam have regularly coordinated in carrying out projects for more than 1,000 credit staff and clients.

In the coming time, the two sides will deploy a nationwide mortgage programme, focusing on the Mekong and Red River Deltas, as well as organise customer seminars and machine performances. Over 100 of such events are expected to be held between now and March 2019.

Speaking at the working session, Vuong said Agribank will support Yanmar in promoting its products through the bank’s lending team.

He expressed his belief that Agribank will continue to be an important bridge for Vietnamese farmers to access modern technology and high quality machines from foreign countries, especially Japan.-VNA