Continuing Government Priorities
The credit program builds on earlier SBV directives (Official Letter No. 5631/NHNN-TD dated July 14, 2023, and Official Letter No. 2756/NHNN-TD dated April 15, 2025), in line with the Party and Government’s policy of prioritizing credit for the agricultural sector. This move aims to safeguard food security, enhance export capacity, and drive the sustainable development of Vietnam’s agriculture, forestry, and fisheries industries.
Implementation in Practice
Eighteen commercial banks — including Agribank, BIDV, VietinBank, Vietcombank, Lộc Phát Bank, Sacombank, MB, ACB, Nam A Bank, OCB, Eximbank, VietCapital Bank, SHB, VietBank, HDBank, TPBank, KienlongBank, and Bac A Bank — are tasked with tracking results and ensuring strict compliance with program commitments, particularly regarding eligible borrowers and preferential interest rates.
The SBV has also encouraged other commercial banks with interest in the program to participate under the same guidelines.
Eligible Borrowers and Preferential Rates
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Borrowers: Enterprises, cooperatives, and households with projects or business plans in agriculture, forestry, or fisheries.
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Interest rates: At least 1–2 percentage points lower per year than the average lending rate for the same tenor (short, medium, or long-term) applied by the same bank.
Broader Significance
By scaling up the program to VND 185 trillion, Vietnam’s banking sector underscores its strong commitment to supporting farmers and agribusinesses. The program is expected to ease access to affordable capital, foster green growth, revitalize rural economies, and boost the global competitiveness of Vietnam’s agricultural exports.
PV
