SHB will provide preferential loans for farmers in the Central Highlands to grow coffee (Photo: SHB)Hanoi (VNA) – Saigon HanoiCommercial Joint Stock Bank (SHB) will provide preferential loans forfarmers in the Central Highlands to grow coffee, SHB General Director NguyenVan Le said.
This is part of the activities to implement theWorld Bank-funded Vietnam – Sustainable Agriculture Transformation (VnSAT)project in the Central Highlands.
According to the credit programme, the bank willoffer loans at an annual interest rate of 7 percent with a 9-year term andfour-year grace period.
The loans aim to help locals have capital togrow, regrow and take care of their coffee and pepper trees; upgrade soil; buyseedlings, machines and equipment; and invest in watering system and othercoffee growing necessities.
The credit programme is expected to help enhanceproductivity and processing capability to produce more high-quality coffee,thus raising export value, creating jobs and increasing income for locallabourers.
Vietnam is among the leading coffee producers andexporters in the world. The Central Highlands, which comprises the fiveprovinces of Dak Lak, Gia Lai, Kon Tum, Dak Nong and Lam Dong, makes up 90percent and 93.3 percent of the nation’s growing area and production,respectively.
As ofthe end of June, SBH had total assets of 251.7 trillion VND. Recently, theState Bank of Vietnam gave the greenlight to the bank to increase its chartercapital to over 12 trillion VND.-VNA
VNA
