The State Bank of Vietnam on July 2 signed a credit contract, in which commercial banks will offer VND2,370 billion (US$111.30 million) in loans for businesses to develop hi-tech agriculture.
That was part in the second phase of a Government’s loan pilot program on agricultural development.
Six companies from five provinces have got the fund to implement their projects to develop high-tech agriculture and connectivity modals in agricultural production.
Of them, Dong Thap-based Hung Ca Company with connectivity modal in tra fish production and exports has been loaned VND1,407 billion by Vietinbank.
Nghe An Agricultural Material Company with large-scale rice field and ginger plant modals has got VND494.45 billion from VietinBank and nearly VND30 billion from VietcomBank.
Another $94 million for agricultural development