Agribank has just launched the program "Accompanying import -export enterprises in 2024" with a budget of VND 20,000 billion offering short -term credit incentives, interest rates lower than the usual loan interest rates up to 2.4% p.a. and other incentives on deposit interest rates, service fees and foreign currency trading rates.

Agribank offers a preferential package "Accompanying import -export enterprises in 2024" valid from April 22, 2024 to COB December 31, 2024, including credit incentives and non-credit incentives. In particular, the total preferential credit budget is VND 20,000 billion, applied to short-term disbursements in VND with interest rates lower than the usual loan interest rate floor up to 2.4% p.a. These incentives are for legal entities and private enterprises operating in the field of production, import and export, with short -term capital needs.

In addition to credit incentives, businesses participating in the program are entitled to incentives on deposit interest rates, service charge reduction and preferential exchange rates for foreign currency trading. Agribank also reduces fees for international payment, trade finance and offers incentives for foreign currency trading, etc. until June 30, 2025. In particular, Agribank offers free of charge for services of import L/C payment, import collection, and foreign currency transfer payment for up to 3 months of transaction. The demand interest rate rate for import-export enterprises participating in the program is higher up to 0.3% p.a. compared to the current interest rate.

In the first quarter of 2024, import and export gained strong growth at double digits, total import and export turnover increased by 15.5% over the same period last year. Agribank hopes that incentives from the program "Accompanying import -export enterprises in 2024" will continue to create motivation to promote positive signals of the economy.

Since the beginning of the year, Agribank has set aside VND 95,000 billion in credit capital with preferential interest rates for SMEs, large corporate customers, groups/corporations, investment projects, import-export enterprises. At the same time, more than VND 60,000 billion in preferential credit is set aside for individual customers who need loans for consumption, development and expansion of production and business. Agribank commits to devoting maximum resources to accompany import-export activities and contribute to the country's economic development.

Kylie Nguyen