June 30, 2006

Vietnam to freeze bank loans for cattle producers

The State Bank of Vietnam has decided to freeze loan payments for cattle raisers for one or two years to help them overcome difficulties caused by foot-and- mouth disease, according to a local animal health agency on Friday (Jun 30).

Individuals, enterprises, farms and cooperatives which have taken out loans for pig farming can have their loans deferred for one year. Those using loans to breed buffaloes, bulls, goats, sheep or deer can delay payments for two years, said the Ministry of Agriculture and Rural Development.

Besides having their payments post-poned, the raisers can also have access to new bank loans. 

Vietnam has detected foot-and-mouth disease in 312 communes of 26 cities and provinces nationwide, affecting over 9, 600 buffalos and bulls and nearly 2,500 pigs, according to figures from the department.