Agribank grants additional VND 3 trillion as loans for coffee exports

The Bank for Agricultural and Rural Development of Vietnam has just announced its additional grant of VND 3 trillion to its branches nationwide as loans to promote coffee purchasing, processing and exports.

Borrowers of these loans are those units and individuals that need money to buy and process coffee, on the conditions that they meet Agribank's requirements for borrowers and some additional requirements such as they have export contracts, payments are made via banks, and commit to sell their foreign currencies to Agribank, among others.

From the beginning of this year, in addition to other loaning activities to promote economic development in agriculture and rural sector, Agribank has provided more than VND 1 trillion as loans to promote buying and processing tra and basa catfish for exports; VND 10 trillion to boost purchase of rice harvested in the summer-autumn crop for exports; more than VND 4 trillion as loans for import of fertiliser and another VND 5 trillion as preferential loans for exporters.

ND

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