SBV to launch credit packages for fisheries, coffee replanting

The State Bank of Vietnam (SBV) is going to launch two credit packages with preferential interest rates to assist fisheries nationwide and coffee replanting in the Central Highlands, according to Nguyen Viet Manh, Head of the Bank’s Credit Department.

The State Bank will offer a credit package with low interest rate to help fishermen build steel vessels (Photo: SGGP)

The first package totaling VND10 trillion (US$475 million) will be for fishermen to build steel vessels and upgrade their old boats. It will be available for seafood businesses also. The interest rate will be as low as 5 percent per year and maximum lending time might reach 10-15 years.

The second package totals VND12 trillion (US$570 million) for farmers to replant aged coffee fields in the Central Highlands.

The State Bank will work with the Ministry of Agriculture and Rural Development to build a coffee replanting project so that farmers can access to the State’s referential loans.

Related article:
Central Highlands farmers short of capital to replant aged coffee fields

By Ham Yen – Translated by Hai Mien

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