THE SOCIALIST REPUBLIC OF VIET NAM
Government News
Preferential credits for rural projects
VGP – The investment projects on solidifying channels and canals, building rural roads, aquaculture and craft village infrastructure, and pumping stations to serve agro-production will be provided with credit loans without interest rate.
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The State encourages localities to mobilize all resources to serve rural development |
According to instructions of the Ministry of Finance, this credit capital source will be included in the local budgets.
The Ministry will define the benchmark lending rate, taking into account the approved lists of investment projects and the requests from local authorities.
The localities are required to clearly calculate their total demand for investment capital, local mobilization, allocations from the local and central budgets, the loans needed and the debt payment plan.
The lending will be carried out through the Việt Nam Development Bank.
Debts must be paid after 12 months since the date of disbursement and for four years.
By Hạnh Uyên