After 2 years of implementing Decree 41 dated April 12, 2010 of the Government on credit policies for agricultural and rural development, Khanh Hoa Province has got optimistic achievement...

After 2 years of implementing Decree 41 dated April 12, 2010 of the Government on credit policies for agricultural and rural development, Khanh Hoa Province has got optimistic achievement.

Supporting farmers timely

Huynh Van Thuong in Cam Thanh  Nam Commune, Cam Ranh City, Khanh Hoa Province, is one of farmers given loans according to Decree 41. He confided, “Owning to the timely borrowed capital for production, my family and many other households in Cam Thanh Nam have build up a new production model on 50 hectare field with an income of VND200 million/hectare. Our living has improved sharply.”

“Decree 41 has made good effects on sugarcane growers in Khanh Hoa Province . It encourages banks to lend farmers to grow and process sugarcane”, Do Thanh Liem, director of Khanh Hoa Sugar Joint Stock Company said.

Farmers harvesting sugarcane in Ninh Hoa

According to Director of the State Bank – Khanh Hoa Branch Doan Vinh Tuong, under Decree 41, banks in Khanh Hoa Province have given priority to agriculture and rural area. The Bank of Agriculture and Rural Development – Khanh Hoa Branch plays a main role in this duty. Till end October, loans for agriculture and rural development of the province reached VND3,050 billion, increasing by VND271 billion over the beginning of the year and making 14.67% of the total loans. Of the sum, the figure of the Bank of Agriculture and Rural Development – Khanh Hoa Branch was VND1,500 billion.

Continuing priority to rural areas

“In the time to come, in order to support poor households in rural areas borrow banking capital to improve living, banks in the province will pour credit into agriculture and rural development,” Doan Vinh Tuong confirmed.

In the period of 2013 – 2015, the Bank of Agriculture and Rural Development – Khanh Hoa Branch will still focus on agriculture, remain credit growth reasonably and safely, keep credit quality and strive for increasing the rate of loans for agriculture and rural development to 70% of its total loans.

The bank also will offer preferential interest rates to loans for agriculture and rural development, support production of small and medium-sized businesses and supply new products and services for customers in the province.

T.T