Agribank Khanh Hoa launches many low-interest credit programs for corporates

Promoting its pioneering role in seriously and effectively implementing monetary and credit policies to support the economy under the direction of the Government and the State Bank, from the beginning of 2024, Agribank dedicated 25,000 billion VND to deploy 2 low-interest credit programs to help corporate customers access capital at reasonable costs, meeting production and business needs.

In recent times, Agribank’s Khanh Hoa Province Branch has always actively resolved difficulties and supported customers in accessing capital to develop production and business activities and serve life needs. Le Anh Tuan - Director of Agribank Khanh Hoa said: "In addition to preferential credit programs, from the beginning of 2024, Agribank has adjusted to reduce interest rates for medium and long-term loans to serve production and business activities and life needs, and reduced by 0.5%/year on the floor interest rate for medium-term and long-term loans for the real estate business sector. This is an effort of Agribank in general and Agribank Khanh Hoa in particular in implementing the direction of the Government and the State Bank on synchronously implementing solutions to overcome difficulties, contributing to recovery and development of the economy and society”.

Currently, Agribank continues to develop two low-interest credit programs to help corporate customers access capital at reasonable costs, meeting production and business needs. Specifically, from February 1 to December 31, Agribank reserved VND 10,000 billion in short-term preferential loans with interest rates lower than the normal lending interest rate floor of up to 1.5%/year for small and medium sized corporates. The program prioritizes businesses operating in the fields of production, processing, and business of agriculture, forestry, fisheries, salt industry, high-tech agriculture and clean agriculture…

In addition, implementing the commitment to accompany traditional customers, build relationships with existing customers and approach new customers, from February 1 to December 31, Agribank spent VND 15,000 billion on funding investment projects in 6 key industries and green field projects with preferential interest rates for medium and long-term loans. The program is for customers who are borrowing capital from Agribank or other credit institutions to implement projects, buy back projects, offset project investment costs or projects that have been completed and put into operation. The project is feasible and effective in the following 6 industries: (1) Processing and manufacturing; (2) Gas power production and distribution (power source projects); (3) Transportation and warehousing; (4) Investment projects on construction and business of industrial park/industrial cluster infrastructure, construction of factories for rent; (5) Farm rental investment loans; (6) Health, education, projects in green fields. When receiving preferential credit capital under the program, customers are also advised on comprehensive financial solutions, suitable to their needs and actual investment project implementation.

Nga Dung

Translated by T.T