Agribank lends VND70 trillion for new rural programmes

Nhan Dan – Agribank’s total loans for new rural programmes have reached nearly VND70 trillion (US$3.29 billion), the lender reports.

A new rural area in Kien Thuy, Hai Phong (Credit: Bao Hai Phong)
A new rural area in Kien Thuy, Hai Phong (Credit: Bao Hai Phong)

Agribank began providing loans for 11 communes selected to pilot the Government programme on building new rural areas in 2011.

It expanded its lending programme to the entire nation in April 2012 by providing loans for projects to improve road infrastructure, build schools and reinforce irrigation works.

Agribank loans are also used to organise vocational training courses for rural youth, to protect the environment and to enhance the people’s cultural life.

Agribank is one of the largest commercial lenders in Vietnam, with a focus on lending to rural customers, household businesses and agriculture firms.

It has an extensive network of nearly 2,300 branches and transaction offices throughout Vietnam.

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