Banks to clear debt for Binh Dinh Province farmers

Prime Minister Nguyen Tan Dung has instructed the central province of Binh Dinh’s Tuy Phuoc District Department of Agriculture and Rural Development to use provisions from the Phuoc Hoa Commune People’s Credit Fund to clear debts for local shrimp breeders.

Accordingly, a total debt of VND5.2 billion incurred by 165 breeders in the commune will be cleared.

Farmers in the commune suffered financial losses and owed the Bank for Agriculture and Rural Development, Industry and Commerce Bank, and local People’s Credit Fund more than VND20 billion from 2001-2005.

In 2007 and 2008, the Government ordered the banks to clear VND15 billion of the farmers’ debts.

By H.Trong – Translated by Thuy Doan

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