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Debt extension for cashew processors

Update: March, 07/2012 - 10:01

HA NOI — The Ministry of Agriculture and Rural Development has sent a proposal to the State Bank Governor to extend loans for cashew processors in a move to help them overcome current difficulties.

Processors are having a hard time paying their debts because limited consumption has forced them to stockpile their products. They also face employee shortages and other problems stemming from the global economic crisis.

The proposal calls for the State Bank of Viet Nam to instruct commercial banks to extend payment terms by six months during the 2011-12 period and to offer lower interest rates on par with current rates.-VNS

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