The Government has issued a resolution on credit policy for agricultural and rural development, which will be effective from August 1 and replace Resolution No.41/2010/ND-CP.
Accordingly, the capital will be served for producing, purchasing, processing and consuming farm products; industrial production, trade and services in rural areas; offspring production and provision of products and services for agricultural production; developing business in rural areas; implementing the national target program on building new-style rural areas; daily consumption of residents in rural areas; and the Government’s economic programs related to agriculture and rural areas.
Individuals, households, collectives, home businesses and farm owners can borrow maximum loans from VND50 million up to VND3 billion depending on purposes and in accordance with legal regulations.
Interest rates will be negotiated between customers and credit institutions in line with regulations of the State Bank of Viet Nam and will comply with the Government’s regulations for loans decided by the Government.
For loans from the Government’s funds or entrusted organizations and individuals, the interest rates will be in accordance with the Government’s regulations or negotiations between the customers and the entrusted organizations and individuals.
Credit institutions and customers base on business and production cycles, projects’ capital recovery period, business and production plans, repayment capacity of customers and credit institutions’ capital source to negotiate loan duration and interest rates.
(Source:chinhphu.vn)