June 5, 2008

Vietnam's agriculture bank to pour funds into Mekong Delta's fish sector

Vietnam's Agriculture and Rural Development Bank announced it is ready to provide VND1 trillion worth of loans for Mekong Delta's fish processors.

Ta Quang Khanh, head of the State Bank of Vietnam (SBV), said that from amount, capital An Giang and Dong Thap provinces will be provided with VND200 billion each, and the six remaining provinces, with VND100 billion each.

For fish farmers to be eligible of the loans, businesses are required to have healthy finance, profitable operations and stable outlets.

Furthermore, the SVB has also asked the Bank for Foreign Trade and the Industrial and Commercial Bank to consider capital supply for the processors.

Vietnam's commercial banks were also urged to extend datelines for debts and new loans for tra and basa catfish farming households.

The department for agro-forest-fishery product processing of the Ministry of Agriculture and Rural Development said that tra and basa catfish processors and exporters currently need about VND4.2 trillion.

US$1 = VND16,270 as of June 5, 2008