|Cinnamon oil extraction in Son Ha Spice & Flavorings Co. Ltd. In Van Yen district, Yen Bai province__Photo: VNA/VLLF|
On July 19, the State Bank of Vietnam (SBV) issued Document 5631/NHNN-TD, guiding commercial banks to implement a credit package, worth VND 15 trillion (USD 641 million), for businesses in the forestry and fishery sector.
As per the Document, the eligible borrowers of this credit package are firms that have projects or plans in service of production and business activities in forestry and fishery fields.
Businesses will enjoy lending interest rates in dong which will be at least 1-2 percent per year lower than the average interest rates offered for short-, medium- and long-term deposits by commercial banks.
In addition, commercial banks will, according to their competence, waive and reduce service fees for customers participating in the program, by legal regulations and the size of the bank’s operations.
The program will be implemented by self-mobilized capital from banks and lending under the normal commercial mechanisms.
The SBV says that the credit package will be implemented until the end of June 30 next year.
Up to now, 12 commercial banks have registered to participate in the program, including Agribank, BIDV, VietinBank, Vietcombank, LPBank, Sacombank, MB Bank, ACB, Nam A Bank, OCB, Eximbank and SHB.- (VLLF)