SBV lowers farm loan interest

The State Bank yesterday asked five commercial banks to reduce interest rates for existing loans to 10 per cent for raising pigs, poultry, tra fish and shrimp breeding and processing.

The bank told Agribank, BIDV, Vietinbank, Vietcombank and Mekong Housing Bank to make interest rates suitable to current market developments.

Short-term interest rates for lending in dong have declined for prioritised sectors, including agriculture and rural areas, many having hit 10 per cent, it said.

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