Agribank, Vicofa collaborate to boost coffee exports

Vietnam Bank for Agriculture and Rural Development (Agribank) has recently signed an agreement with Vietnam Coffee and Cocoa Association (Vicofa) to lend more support to coffee firms to boost coffee exports during the period 2011-2012.

Agribank has pledged support of VND5 trillion at reasonable interest rates to local coffee firms. (Photo: SGGP)

Vietnam’s largest bank has pledged support of VND5 trillion at reasonable interest rates to local coffee firms in producing, purchasing, processing and exporting of coffee.

Easier access to bank loans will greatly help coffee firms to increase their competitiveness.

So far the bank has disbursed VND700 billion to coffee firms since the beginning of the crop season this year.

By Yen Lam – Translated by Thuy Doan

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