Lien Viet Bank expands agricultural credit
By Truong Nam - The Saigon Times Daily
HCMC – Lien Viet Commercial Bank has announced to earmark from VND3-5 trillion, or US$155 to US$260 million, for investment and development of agricultural and rural credits in the Mekong Delta during 2010-2013.
The program is designed for households and individuals, farm owners, cooperatives and economic institutions in rural areas, said Lien Viet’s vice chairman Nguyen Duc Huong. The bank expects to disburse VND1.2 trillion within this year.
The Government has called for financial institutions to give more credits to local farmers, especially in the Mekong Delta.
Lien Viet Bank is the first commercial joint stock bank lowering the lending rate for rural areas.