Interest rate cap for seafood, livestock, chicken breeders

The maximum bank interest rate for seafood, livestock and chicken breeders has been reduced and capped at 10 percent per annum, according to the State Bank of Vietnam.

A dairy farm in Duc Trong District in the Central Highland province of Lam Dong (Photo: SGGP)

That is part of a Government policy to provide preferential interest loans to five priority sectors including agriculture and rural development.

On May 29, the State Bank sent a document to five banks, namely, Agribank, BIDV, VietinBank, Vietcombank and MHB, instructing them to continue to implement the Government policy to apply 10 percent interest rate for livestock, chicken and seafood breeders and processors.

By Bao Minh – Translated by Hai Mien

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