New credit momentum for rural areas to take effect soon
VGP – The Government just issued Decree 41/2010/NĐ-CP on credit policy for agriculture and rural development, opening more roads for peasants to access to credit loans for their production activities.
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The new policy will facilitate peasants’ access to banking credits for production development – Photo: VGP |
Individuals or households providing agricultural services will also be considered to borrow up to VND 50 million.
Banking institutions specializing in agriculture and rural development, small-sized financial organizations, commercial banks, or other Government-founded financial entities will be assigned to conduct the lending activities.
8 sectors to be benefited
- Production costs for agriculture, forestry, aqua-culture, and salt making;
- Jobs creation in rural areas;
- Rural infrastructure development
- Processing and distribution of agricultural, forestry, aquatic and salt products
- Provision of agricultural, forestry, aquatic and salty products and services
- Industrial production and provision of non-agricultural services in the rural areas
- Consumption stimulation in rural areas
- And loans lent under the Government’s economic programs
If borrowers cannot pay their loans off on time because of large-scaled natural disasters and epidemics, the Government will provide specific assistance to hard-hit insolvent individuals and organizations.
By Hải Minh
