State Bank instructs provision of loans for rice procurement

The State Bank of Vietnam (SBV) has requested its chapters in the Mekong Delta and commercial banks to provide loans for rice procurement in the 2019 Winter-Spring crop, which is now in the prime harvest season in the delta.

Illustrative image (Source: VNA)

In a move to support local farmers and enterprises in producing and selling rice, the SBV asked banks to arrange capital for lending to rice trading firms.

The banks in the region were also required to work with rice trading firms to study their capital needs and accelerate capital disbursement for the firms to buy rice.

SBV chapters in the Mekong Delta were told to keep close watch on the rice market and local credit institutions’ lending activities for rice procurement, and report any problems to the SBV and People’s Committees of cities and provinces in the Mekong Delta for timely settlement.

Rice farmers in the Mekong Delta are facing difficulties as unhusked rice prices this year are lower than those in the same period last year, and few firms are buying rice.

Prime Minister Nguyen Xuan Phuc also chaired a meeting with relevant ministries and agencies on February 19 on measures to bolster rice procurement and raise rice prices.

Related

PM's directive on effective management and use of foreign loans
PM's directive on effective management and use of foreign loans

The Prime Minister has recently issued Directive No. 03/CT-TTg on the implementation of the National Assembly Standing Committee’s Resolution No. 582/NQ-UBTVQH14 on a number of tasks and solutions to continue accelerating the implementation of policies and laws on management and use of foreign loans.

PM's directive on effective management and use of foreign loans

PM's directive on effective management and use of foreign loans

The Prime Minister has recently issued Directive No. 03/CT-TTg on the implementation of the National Assembly Standing Committee’s Resolution No. 582/NQ-UBTVQH14 on a number of tasks and solutions to continue accelerating the implementation of policies and laws on management and use of foreign loans.

ADB loans US$300 million to BIDV to support Vietnamese SMEs
ADB loans US$300 million to BIDV to support Vietnamese SMEs

The Asian Development Bank (ADB) and the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) on December 12 signed a US$300 million loan agreement to support the growth and productivity of small- and medium-sized enterprises (SMEs) in Vietnam.

ADB loans US$300 million to BIDV to support Vietnamese SMEs

ADB loans US$300 million to BIDV to support Vietnamese SMEs

The Asian Development Bank (ADB) and the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) on December 12 signed a US$300 million loan agreement to support the growth and productivity of small- and medium-sized enterprises (SMEs) in Vietnam.

ADB urged to help Vietnam get access to preferential loans
ADB urged to help Vietnam get access to preferential loans

Vietnam always treasures its relations with the Asian Development Bank (ADB), one of the leading providers of loans, technical assistance and consultancy for the country, said a senior government official.

ADB urged to help Vietnam get access to preferential loans

ADB urged to help Vietnam get access to preferential loans

Vietnam always treasures its relations with the Asian Development Bank (ADB), one of the leading providers of loans, technical assistance and consultancy for the country, said a senior government official.