Business

Agribank lends over 219 million USD to develop hi-tech agriculture

The Vietnam Bank for Agriculture and Rural Development (Agribank) has so far provided more than 5.1 trillion VND (219.3 million USD) in soft loans for hi-tech agricultural projects across Vietnam.
Agribank lends over 219 million USD to develop hi-tech agriculture ảnh 1Agribank lends over 219 million USD to develop hi-tech agriculture. (Photo: VNA)

Hanoi (VNA) – The Vietnam Bank for Agricultureand Rural Development (Agribank) has so far provided more than 5.1 trillion VND(219.3 million USD) in soft loans for hi-tech agricultural projects acrossVietnam.

The loans were taken out by nearly 3,100 borrowers,including 80 corporate customers who were lent over 4.43 trillion VND (190.5million USD).

After the Vietnam National Green Growth Strategy wasformulated in 2012, Agribank has launched a credit package worth 50 trillionVND (2.15 billion USD), offering preferential interest rates, to develop cleanagriculture, with priority given to hi-tech agricultural projects.

The soft loans, with interest rates 0.5 – 1.5 percentlower than normal one, have been available since November, 2016 for enterprises,cooperatives, unions of cooperatives and farm owners that involve inlarge-scale supply chains of safe agricultural products.

Many hi-tech agricultural projects have been put intooperation thanks to funds from the State-run lender, including large-scale ricefarming in Can Tho, livestock farming in Bac Ninh, Lao Cai, Ha Nam and DongNai, shrimp breeding in Kien Giang, Ninh Thuan Binh Thuan, and VietGAP dragonfruit farming in Binh Thuan.

The Vietnam National Green Growth Strategy was adopted byPrime Minister Nguyen Tan Dung in September, 2012, aiming to accelerate the process of economic restructuring in away that promotes the efficient use of natural resources, greenhouse gasemission reduction, climate change adaption, and sustainable economicdevelopment.

It looks to facilitate the development of green industryand green agriculture based on environmentally-friendly structures,technologies and equipment; enhancing investment in natural capital; andproactive prevention and treatment of pollution.

Key targets for green production towards 2020 are to havethe value of high technology and green technology make up a share of 42 – 45percent of the country’s GDP and application of clean technologies to reach 50percent. –VNA
VNA
#Vietnam Bank for Agriculture and Rural Development #Agribank #soft loans #hi-tech agriculture #credit package #Vietnam National Green Growth Strategy #preferential interest rates #clean agriculture #large-scale supply chains #hi-tech agricultural projects #clean technology #news about Vietnam #Vietnam news #Vietnam #Vietnam News Agency #Vietnamplus
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