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Loans for businesses, cooperatives and production households to develop agricultural products must be increased Update 11-09-2020 03:20
The State Bank of Vietnam or SBV has just sent documents on the implementation of the “One Commune, One Product” Program to credit institutions and state bank branches in provinces and cities.

The banking sector will facilitate businesses and cooperatives’ borrowing loans for agricultural development


Accordingly, SBV suggests that credit institutions focus on the loans in areas of production, sectors and preferential areas for development; further make loans to businesses, cooperatives, and production households to develop agricultural products, non-agricultural products, advantageous services in each locality according to the value chain to contribute to fulfilling the objectives of the “One Commune, One Product” Program; research, develop and diversify credit products to suit each type of customer, especially small-and- medium-sized businesses and cooperatives and the Program’s beneficiaries; update the loan-making process, simplify loan-making procedures, and facilitate customers’ access business and production loans but still ensure some level of safety for loans; actively carry  out the credit program for sectors and fields according to the government’s guidelines such as credit policy for agricultural and rural development under Decree no. 55; loan-making programs to reduce post-harvest losses for agricultural and aquatic products; actively participate in the  program of connecting local banks and businesses and work directly with loan borrowers to help remove difficulties in credit relations, and create favorable conditions for businesses, cooperatives and production households to gain an access to credit loans according to regulations.


SBV’s branches in provinces and cities need to regularly monitor and direct local credit institutions to effectively implement the Bank and Business Connection Program, and other programs according to the government’s guidelines.


It is necessary to be proactive to coordinate with departments, committees and sectors; local socio-political organizations are supposed to disseminate propaganda information and the contents of the “One Commune, One Product” Program as well as the bank’s guidelines and policies for businesses, cooperatives, and production households; and timely grasp both difficulties and problems occurring in the process of accessing bank credit loans including the participants of the “One Commune, One Product” Program to find out practical and effective solutions.


The “One Commune, One Product” Program is introduced by the State Prime Minister according to Decision no. 490/QD-TTg with the aim of developing forms of production and business to create the traditional products and services that have advantages, meet required standards, and have a strong competition on both domestic and international markets to contribute to economic restructuring, improving people’s income and life, having agriculture and rural areas industrialized and modernized, and implementing the Agriculture Restructuring Project and improving the National Target Program of constructing a new countryside.


Duy Minh (Van Minh)


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