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VND 250 billion loans for agricultural and rural development (11/10/2017)

HNP - The inter-sector of labor, invalids and social affairs, finance, agricultural and rural development, social policy bank has recently released Proposal 2987/TTrLN:LDTB&XH-NN&PTNT-NHCSXH, asking the Municipal People’s Committee to approve the plan on arranging capital for job creation, agricultural and rural development, new-style rural area construction and better life of peasants in 2017.

Accordingly, 16,850 households need loans to find jobs, develop agriculture, build new-style rural areas and improve their lives; total amount of loan is VND 674 billion. The inter-sector suggests that loan should be given to households and farms for production, business development and job creation. The fund must be allocated with the right purpose of realizing Program 02-CTr/TU dated April 24, 2016 of Municipal Party Committee on developing agriculture, building new-style rural area and improving life of peasants in the period of 2016 to 2020.

Fund will be allocated in order of priority as follows:


- Group 1: suburban districts facing difficulties in economic development, where only few communes meet standard of new-style rural area (Ba Vi, Chuong My, My Duc, Phu Xuyen, and Ung Hoa);


- Group 2: suburban districts facing less difficulties than the ones in group 1 and having more communes striving to meet new-style rural area standard (Thuong Tin, Thach That, Thanh Oai, Quoc Oai, and Soc Son);


- Group 3: suburban districts which have more communes marginally meeting new-style rural area standard, or striving to meet standard of new-style rural district (Me Linh, Phuc Tho and Gia Lam);


- Group 4: other districts (Son Tay, Dong Anh, Hoai Duc, Dan Phuong and Thanh Tri).

According to the proposal, each household will get VND 40 million loan; maximum loan period is 60 months according to demand, purpose, production and business plan, and capacity to pay the loans of borrowers.

The inter-sector asks Municipal People’s Committee to approve VND 250 billion for 18 suburban districts and towns in 2017.

By Mai Phuong

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