Banks registered loan for hi-tech agriculture reaches $5.29 billion

Eight banks have attended a credit package of VND100 trillion in the hi-tech agriculture field with the total registered capital of VND120 trillion (US$5.29 billion).

Muskmelon farming in Agricultural Hi-Tec Park, HCMC (Photo: SGGP)

According to Minister of Agriculture and Rural Development Nguyen Xuan Cuong, VND30 trillion of the funds has been disbursed with loan interest rate being 0.5-1.5 lower than normal.

The package was launched in March by the State Bank of Vietnam (SBV) and the ministry, initially providing funds for businesses granted with hi-tech agriculture investment certificates.

Afterwards, SBV has made Decision 813 to bolster hi-tech and clean farming.

At present, the Ministry of Planning and Investment is building a draft decree encouraging businesses to invest in agricultural and rural field over large scales, attend in value chains and develop areas specialized farming zones applying modern technologies with the financial assistance of VND200 million to VND10 billion a project.