Amid the Government’s efforts to promote sustainable agricultural development, enhance climate change adaptation, and reduce greenhouse gas emissions, the Project on the “Sustainable Development of One Million Hectares of High-Quality, Low-Emission Specialized Rice Cultivation Linked with Green Growth in the Mekong Delta by 2030” has been identified as a strategic initiative. The project aims to increase the value of Vietnam’s rice sector while improving livelihoods for millions of farmers. As a state-owned commercial bank playing a key role in agricultural and rural development, Agribank has been proactively implementing a wide range of coordinated measures to contribute to the effective realization of this goal.

Pursuant to the Prime Minister’s Decision No. 1490/QĐ-TTg, Agribank has actively entered into and implemented cooperation programs with the Ministry of Agriculture and Environment, translating the Project’s core objectives into concrete actions. In this context, Agribank has introduced a credit program to support linkages in the production, processing, and consumption of high-quality, low-emission rice, with a total credit scale of up to VND 30 trillion. The program is designed to provide financial leverage for enterprises, cooperatives, and farmers participating in sustainable value chains. Eligible customers are offered preferential credit policies, including lending interest rates 1.0–1.5 percentage points per annum lower than standard rates, and unsecured loans of up to 80% of the value of feasible production and business plans.

In practical implementation across the Mekong Delta region, Agribank has established Steering Committees for the Project at 100% of its branches, with Agribank Can Tho II Branch serving as the focal point in coordination with local Departments of Agriculture and Environment. Agribank’s branch-level teams have proactively engaged with 41 enterprises, 415 cooperative groups and cooperatives, and more than 4,900 individual customers whose activities align with the Project’s objectives. Based on preliminary assessments, Agribank has reached agreements on expected lending commitments of approximately VND 760 billion, subject to customers meeting Agribank’s lending conditions in accordance with applicable regulations.

Despite initial positive outcomes, the implementation of the Project continues to face several challenges. These include the need to further review and publicize newly planned cultivation areas, finalize economic and technical norms, and establish mechanisms for certifying rice products produced under low-emission processes. In addition, small-scale agricultural production and traditional farming practices have limited farmers’ demand for direct credit to rice cultivation activities.

Recognizing these challenges, Agribank has reaffirmed that participation in the Project is an important political task. Agribank will continue to strengthen coordination with local authorities, agricultural agencies, and mass organizations to enhance communication, training, and outreach efforts, helping farmers and cooperatives better understand the long-term benefits of participating in the Project. At the same time, Agribank is implementing a comprehensive suite of credit products, agricultural insurance solutions, and digital banking services to support efficient, transparent, and sustainable agricultural production.

With the decisive engagement of the entire political system and the banking sector, and with Agribank playing a core role in investment for agriculture, farmers, and rural areas, the One-Million-Hectare High-Quality, Low-Emission Rice Project is expected to continue deepening its impact. The Project is poised to contribute to enhancing the value of Vietnamese rice in international markets while promoting socio-economic development and improving the livelihoods of farmers across the Mekong Delta.

Kylie Nguyen