Four companies borrow $16.5 mil for setting up agricultural supply chains

Four companies have borrowed VND350 billion (US$16.5 million) from banks to set up agricultural supply chains, the first to do so following a government instruction to support businesses in the agricultural sector.

Thuan An Company – Tafishco, Thinh Phu An Giang Company; Tin Thuong Company, and An Giang Food Supplier Company signed a contract in Hanoi May 29 for the loans.

Thuan An will borrow VND234 billion from the Vietnam Bank for Agriculture and Rural Development for its “production-processing-export” project in which eight farms will take part.

Thinh Phu An Giang will get VND19 billion (US$ 898,000) from the Bank for Foreign Trade of Vietnam for its “ Huge rice field” project in Tan Chau town in the Mekong delta province of An Giang. It envisages the participation of 474 farming households.

Tin Thuong needs VND25 billion for setting up a glutinous rice production and consumption chain in Phu Tan District in An Giang together with 300 households.

Agribank will lend VND72 billion to An Giang for a vegetable production and consumption chain in Chau Phu and Chau Thanh Districts together with around 10,000 households.

The pilot program is expected to improve agricultural production and enhance consumption.

By Ham Yen - Translated by Uyen Phuong

Other news