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Agribank will exempt or reduce loan interest for businesses

12/02/2020

Agribank will restructure the repayment period; consider exemption and reduction of loan interest to timely meet the demand for capital, new loans to help businesses maintain and stabilize production and business.

Facing the complicated situation of acute respiratory infection caused by new strain of coronavirus (COVID-19), Vietnam Bank for Agriculture and Rural Development (Agribank) has instructed branches to actively work with customers affected by the outbreak to promptly apply measures to overcome difficulties.

Specifically, Agribank will restructure the repayment term; consider exemption and reduction of loan interest accordingly to timely meet the demand for capital; make new loans to help businesses maintain and stabilize production and business.

Agribank's General Director has also directed branches to review, grasp the situation of production and business, the extent to which borrowers are damaged by the acute respiratory infection; in which, attention is paid to the production and business customers in the field of tourism, restaurant, hotel, agriculture, and export.

Particular attention to be paid to businesses using raw materials imported and exported to China market, businesses with many Chinese workers, compaines specialized in producing and trading agricultural commodities, major farming regions such as the Central Highlands, Southwest region, Central coastal region, etc.

Earlier, Agribank actively implemented measures to join hands with the community in outbreak prevention and control efforts by widely sharing the guidance of the Ministry of Health on disease outbreak prevention and control measures on Agribank's communication channels (Agribank website, Agribank, Fanpage , Agribank transaction offices nationwide). 

Providing free medical masks and antiseptic hand wash to customers who come to branches for transaction; directing the whole system to implement outbreak prevention and control measures as recommended by the Ministry of Health as well as relevant instructions of the Governor of the State Bank of Vietnam.

Mr. Pham Toan Vuong, Deputy General Director of Agribank, said that the outbreak would directly affect the production and business activities, which are the sources of cash flows for repayment of the credit that already provided to customers.

So far, Agribank has not been able to assess how many customers have been affected and how much. Agribank still identifies and evaluates industries, sectors and customers directly and indirectly affected by the outbreak.

Agribank always has credit packages worth tens of thousands of billion dong ready to disburse with preferential interest rates to support businesses.

 

Kylie Nguyen

© 2019 Vietnam Bank for Agriculture and Rural Development No. 2 Lang Ha street, Ba Dinh district, Hanoi, Vietnam
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