(vasep.com.vn) General Director of Vietnam Bank for Agriculture and Rural Development (Agribank) signed Decision No. 888 / QD--NHNo-HSX on lending according to Decree 67/2014/ND-CP dated 07/07/2014 on fisheries development Decision 883 / QD-NHNo-HSX on loans for crop season intervals.
Agribank offer loans for borrowers who purchase, construct or upgrade offshore fishing vessels, fisheries logistics and working capital loans for fishers and logistics service providers for offshore fishing.
Specifically, interest rate of 7% annum is offered for construction and upgrades of fishing vessels and also offered to for borrowers who order, construct offshore fishing vessels with 400CV engine or upgrade the existing vessel 400CV in order to fish offshore. If there is any change in basic interest rates, Agribank will report to the State Bank to adjust accordingly.
Working capital loans, 7% interest rate on the first year, are also available to support fishing costs and costs of logistics. This rate can be adjusted but cannot exceed lowest interest rate allowed for agriculture sector.