RM2.84bil disbursed to support agroforestry

More than 15 trillion dong (RM2.84bil) has been disbursed under a credit scheme to support Vietnamese agroforestry and aquatic sectors since July last year, Vietnam News Agency reported, citing the State Bank of Vietnam.

The loans, with lower interest than market rates by 1% to 2% annually, have been designed to help the sectors cope with and overcome difficulties experienced during this turbulent period, said the bank.

Dao Minh Tu, the bank’s deputy governor, said the central bank was willing to increase the amount to over 30 trillion dong (RM5.68bil) if there is a strong demand within the sectors.

According to a recent survey conducted by the Vietnam Association of Seafood Exporters and Producers, businesses and farmers are especially interested in low-interest loans in both US dollar and Vietnamese dong, with banks implementing a more streamlined loaning process. — Xinhua

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