WB raises rural finance rate for VIB

VGP - Under the World Bank’s (WB) Viet Nam Rural Finance Project, the credit rate for the Viet Nam International Bank (VIB) has been raised to VND 350 billion.

February 21, 2013 4:20 PM GMT+7

Mr. Harideep Singh (center) poses for a photo at a coffee garden of a VIB sub-project, November 27, 2012

Since partaking in the project in 2003, VIB has disbursed VND 436 billion worth of loans. With the result, VIB has been considered one of financial institutions using the project’s capital source most fruitfully.

Mr. Richard Harris, Director of VIB Retail Banking, said that with the new credit rate, VIB will invest and further seek sub-projects with high feasibility to help develop rural economy and create jobs for rural dwellers.

The sub-projects which received loans from the VIB have been regarded as effective and transparent.

The WB delegation led by Mr. Harideep Singh, Director of the Rural Finance Project, visited the two sub-projects of VIB clients Trinh Van Hoan and Vu Duc Du in Dak Lak Province on November 27, 2012.

Mr. Harideep Singh highly appreciated the loan-using effectiveness and encouraging results of VIB sub-projects in Dak Lak and other localities.

By Ngoc Van