A combination cage fish farm and experiential tourism site in Mường Mô Commune, Nậm Nhun District, Lai Châu Province. — VNA/VNS Photo Trần Việt

HÀ NỘI — The State Bank of Việt Nam (SBV) has requested that commercial banks implement a VNĐ100 trillion (US$3.8 billion) preferential credit programme to support the country's agriculture, forestry and fishery sectors.

The move is part of the SBV's efforts to implement the Prime Minister’s Resolution 46/NQ-CP and Directive 05/CT-TTg on increasing the scale of the credit programme for the forestry and fishery sectors to over VNĐ100 trillion and expanding the scope of the credit programme for agriculture, forestry and fishery.

Borrowers eligible for loans under the initiative are customers with projects or plans serving production and business activities in the fields of agriculture, forestry and fisheries.

The programme will be implemented until loan turnover reaches VNĐ100 trillion according to the level registered by commercial banks. Other related initiatives will continue to be implemented following directions in the SBV’s Official Dispatch 5631/NHNN-TD dated July 14, 2023.

Bank involved in the programme include Vietnam Bank for Agriculture and Rural Development, Vietnam Joint Stock Commercial Bank for Investment and Development, Vietnam Joint Stock Commercial Bank for Industry and Trade, Vietnam Joint Stock Commercial Bank for Foreign Trade, Lộc Phát Joint Stock Commercial Bank, Saigon Thương Tín Joint Stock Commercial Bank, Military Joint Stock Commercial Bank, Asia Commercial Bank, Nam Á Commercial Bank, Phương Đông Joint Stock Commercial Bank, Vietnam Import-Export Joint Stock Commercial Bank, Bản Việt Joint Stock Commercial Bank, Saigon - Hanoi Commercial Bank, Vietnam Thương Tín Joint Stock Commercial Bank and Hồ Chí Minh City Development Joint Stock Commercial Bank.

The SBV has required the institutions to monitor and compile statistics on the results of the programme's implementation and take responsibility for the accuracy of the data reported to the central bank.

Commercial banks are responsible for implementing the programme's commitments on subjects and interest rates.

The SBV has also encouraged other commercial banks to participate in the programme following the instructions in this official dispatch and official dispatch 5631/NHNN-TD dated July 14, 2023.

Since its implementation in August 2024, the credit programme for the forestry and fishery sector has continually been expanded. 

Initially implemented with a scale of VNĐ15 trillion, the credit package was quickly increased to VNĐ30 trillion, then doubled to VNĐ60 trillion with a lending interest rate at 1-1.5 per cent per year lower than the commercial interest rate to meet the large capital demand.

According to an assessment from the SBV’s Department of Credit for Economic Sectors, the programme is one of the most quickly and effectively implemented preferential interest rate credit packages so far. As of February 2025, the programme’s total cumulative disbursement turnover reached nearly VNĐ60.2 trillion, supporting capital for nearly 13,400 business customers. — VNS