In addition to the 15 commercial banks required to participate in this credit package, the State Bank also encourages other commercial banks to participate in the program. The agricultural, forestry and fishery credit package will continue to maintain incentives with lending interest rates lower than commercial interest rates by about 1-1.5%
This is a concrete step to implement the Prime Minister's direction to remove difficulties for enterprises, cooperatives and production households in the context of the agricultural sector being under great pressure from the export market, raw material prices and natural disasters. This credit program inherits and expands from the old program applied to the forestry and fishery sector, now covering all production and business activities in the agricultural, forestry and fishery sector.
The agricultural, forestry and fishery sector is one of the important pillars of the economy because it ensures national food security and aims for export. This is also the sector that concentrates many cooperatives, small and medium enterprises, all of which are priority sectors for credit capital flows. According to businesses, this is a program with important capital access meaning, suitable for businesses. Increasing the scale of the credit package for the agricultural, forestry and fishery sector and expanding the target group will be favorable conditions to promote this sector to continue to grow and develop, promoting the country's economic growth.
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