Hanoi (VNA)– The Vietnam Bank for Agriculture and Rural Development (Agribank) hosted theRegional Policy Forum of the Asia-Pacific Rural and Agricultural CreditAssociation (APRACA) on July 20 in Hanoi.
This is APRACA'sfirst large-scale in-person event to be held after a two-year hiatus due to theCOVID-19 pandemic.
The forum, themed“Promoting Digital Financial Services as a Critical Vehicle to FinancialInclusion for Farmer Collectives”, drew the participation of 60 internationaldelegates from APRACA's member organisations and representatives of the StateBank of Vietnam, the country’s ministries and several foreign organisations inVietnam.
Speaking online fromIndia, Govinda Rajulu Chintala, Chairman of the National Bank for Agricultureand Rural Development of India (NABARD) and the APRACA President emphasisedthe importance of agricultural and rural development in national and regionalsocio-economic strategies.
However, he pointedout several challenges that the sector is facing today, especially lowproductivity, asynchronous infrastructure and climate change.
To support inclusiveagriculture, meet the needs of sustainable development, and improve farmerincomes, it is necessary to ensure finance for agricultural management. Financeplays an important role in comprehensive financial development for agriculture,rural areas and farmers, he said.
Deputy Governor ofthe State Bank of Vietnam Nguyen Kim Anh said that, being aware of theimportant role of financial inclusion, on January 22, 2020, the VietnamesePrime Minister issued a national financial strategy until 2025 with a vision to2030.
The results achievedduring the implementation of the strategy over the past two years have been recognized.These include important contributions to the development of financial productsand services and payment infrastructure, the improvement of financial knowledgefor businesses, and the perfection of mechanisms to protect consumers. Theseresults help raise economic growth and people's incomes, he added.
At the forum,delegates discussed issues such as trends and opportunities to apply digitalfinancial services to achieve financial inclusion goals. Also discussed wereextended models to support farmer collectives in the Asia-Pacific region.Delegates also shared results and experience of countries in financialinclusion development in the field of agriculture and rural areas.
In the afternoon ofthe same day, the APRACA’s 75th Executive Committee Meeting was held, with theparticipation of 18 official members of the executive committee and over 40delegates from member organisations./.
This is APRACA'sfirst large-scale in-person event to be held after a two-year hiatus due to theCOVID-19 pandemic.
The forum, themed“Promoting Digital Financial Services as a Critical Vehicle to FinancialInclusion for Farmer Collectives”, drew the participation of 60 internationaldelegates from APRACA's member organisations and representatives of the StateBank of Vietnam, the country’s ministries and several foreign organisations inVietnam.
Speaking online fromIndia, Govinda Rajulu Chintala, Chairman of the National Bank for Agricultureand Rural Development of India (NABARD) and the APRACA President emphasisedthe importance of agricultural and rural development in national and regionalsocio-economic strategies.
However, he pointedout several challenges that the sector is facing today, especially lowproductivity, asynchronous infrastructure and climate change.
To support inclusiveagriculture, meet the needs of sustainable development, and improve farmerincomes, it is necessary to ensure finance for agricultural management. Financeplays an important role in comprehensive financial development for agriculture,rural areas and farmers, he said.
Deputy Governor ofthe State Bank of Vietnam Nguyen Kim Anh said that, being aware of theimportant role of financial inclusion, on January 22, 2020, the VietnamesePrime Minister issued a national financial strategy until 2025 with a vision to2030.
The results achievedduring the implementation of the strategy over the past two years have been recognized.These include important contributions to the development of financial productsand services and payment infrastructure, the improvement of financial knowledgefor businesses, and the perfection of mechanisms to protect consumers. Theseresults help raise economic growth and people's incomes, he added.
At the forum,delegates discussed issues such as trends and opportunities to apply digitalfinancial services to achieve financial inclusion goals. Also discussed wereextended models to support farmer collectives in the Asia-Pacific region.Delegates also shared results and experience of countries in financialinclusion development in the field of agriculture and rural areas.
In the afternoon ofthe same day, the APRACA’s 75th Executive Committee Meeting was held, with theparticipation of 18 official members of the executive committee and over 40delegates from member organisations./.
VNA
