The Standard Chartered Bank (SCB) of the UK will provide credit loan worth 22 million USD for Tin Nghia Corporation in the southern province of Dong Nai to help the firm further develop its coffee production and export.

The loan agreement between the two sides was signed in the locality on April 10.

According to Nirukt Sapru, General Director of the SCB Vietnam, the credit package aims to foster Tin Nghia’s coffee production activities and help the company achieve its export goal.

Tin Nghia is now one of Vietnam’s three largest coffee exporters. The company earns 200 million USD from exporting about 100,000 tonnes of coffee bean each year.

Apart from investing in the domestic market, the company has also poured money into planting coffee in Laos, with an area of almost 1,000 ha. It plans to expand the area to 3,000 ha and build a processing plant in the country in the coming time.-VNA