State Bank instructs provision of loans for rice procurement
The State Bank of Vietnam (SBV) has requested its chapters in the Mekong Delta and commercial banks to provide loans for rice procurement in the 2019 Winter-Spring crop, which is now in the prime harvest season in the delta.
Hanoi (VNA)𒅌 – The State Bank of Vietnam (SBV)has requested its chapters in the Mekong Delta and commercial banks to provideloans for rice procurement in the 2019 Winter-Spring crop, which is now in theprime harvest season in the delta.
In a move to support local farmers and enterprises inproducing and selling rice, the SBV asked banks to arrange capital for lendingto rice trading firms. The banks in the region were also required to work with ricetrading firms to study their capital needs and accelerate capital disbursementfor the firms to buy rice. SBV chapters in the Mekong Delta were told to keep closewatch on the rice market and local credit institutions’ lending activities forrice procurement, and report any problems to the SBV and People’s Committees ofcities and provinces in the Mekong Delta for timely settlement. Rice farmers in the Mekong Delta are facing difficulties asunhusked rice prices this year are lower than those in the same period lastyear, and few firms are buying rice. Prime Minister Nguyen Xuan Phuc also chaired a meeting withrelevant ministries and agencies on February 19 on measures to bolster riceprocurement and raise rice prices.-VNA
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Illustrative image (Source: VNA) 
