At the signing ceremony (Photo: VNA)

Hanoi (VNA) – Farmers who purchase agricultural machines of Tata International Vietnam Company Limited will be supported by the Vietnam Bank for Agriculture and Rural Development (Agribank).

An agreement to this effect has been recently signed by Agribank and Tata International Vietnam, a subsidiary of India’s Tata International.

Besides, customers will be provided a package of equipment insurance from the Agriculture Bank Insurance JSC (ABIC) throughout the loan period.  

Pham Toan Vuong, Agribank Deputy General Director, said the deal will provide farmers with access to high-tech agricultural machines, along with financial assistance from Agribank, while contributing to tightening relations between Vietnam and India in various fields.

Len J Brand, Executive Director and Head of the Distribution Vertical of Tata International, said ensuring credit support to farmers helps increase productivity and agricultural growth, thus improving the livelihoods of farmers.

Tata International Vietnam commits to providing the best farming solutions through its partners to help farmers improve productivity and maximise the operational longevity of their machines through a team of services and distribution networks.

By signing the cooperation agreement, Agribannk is actively contributing to materialising the Government’s policy on industrialisation and modernisation of agriculture and rural areas, focusing on agricultural mechanisation, and high tech and clean agriculture.-VNA