A rice field in An Giang Province. — VNA/VNS Photo Hữu Sinh

The State Bank of Việt Nam (SBV) has required commercial banks to create favourable conditions for people and businesses producing and trading rice to access loans with preferential interest rates.

SBV has asked commercial banks to proactively balance capital sources, and promptly meet the loan needs of people and businesses producing, processing, purchasing, temporarily storing and exporting rice, especially during the winter-spring crop of 2023-24, in the Cửu Long (Mekong) Delta region.

Under Document 1764/NHNN-TD, the State bank has requested these financial institutions to diversify credit packages, shorten loan approval time and improve the efficiency of appraisal and credit rating so that people and businesses producing and trading rice can get a loan without collateral.

Furthermore, commercial banks have been urged to strengthen bank-business connection activities to have timely solutions to overcome difficulties, while collaborating with the Việt Nam Food Association and the Việt Nam Rice Industry Association to update member companies on banks' credit policies.

The SBV's branches in the Mekong Delta region have also been required to direct commercial bank branches in the area to actively balance capital sources, promptly meet the loan demand of people, manufacturing and processing enterprises, purchasing, temporarily storing and exporting rice, especially in the winter-spring crop 2023-24. — VNS