The restructuring of repayment terms, keeping the debt group and continue to lend new solutions in the short term …
The restructuring of the repayment period, retaining the group of debt and continuing to provide new loans are short-term solutions that the banking sector has taken to overcome difficulties in repayment of loans to pig farmers. feed and veterinary medicine.
This content is expressed in the text of the State Bank of Tien Giang Province voters answered about considering issuing debt to the Ruff advocates who borrow money raising investment bank suffered losses in the year 2017.
According to the State Bank of Vietnam, in 2017, the pig breeding industry is growing too fast, leading to oversupply. Pork prices have fallen sharply, affecting directly farmers.
The written replies to the Prime Minister’s regulations on credit policies in service of agricultural and rural development, the debt freezing shall be effected when natural disasters or epidemics occur on a large scale, the People’s Committees The province shall synthesis and evaluation the damage to be reported to the Prime Minister, the State Bank and the Ministry of Finance.
If approved by the Prime Minister, the outstanding loans will be frozen without interest for a period of up to 2 years and frozen debts will be kept unchanged as before.
In cases where pig farmers are damaged, they are not subject to objective causes, force majeure or epidemics on a large scale, they shall not be considered for debt freezing according to this Regulation.
Responding voters also said, to remove difficulties for the livestock sector, especially pig production, help people ease difficulties, the Prime Minister has directed the ministries on overall solutions to The livestock sector is stable and sustainable development.
Implementing the guidelines of the Government, the State Bank has promptly issued written guidance for credit institutions base the financial capacity and the provisions of current legislation to implement solutions that support removed difficult for borrowers pig breeding, production and animal feed veterinary medicine as a restructuring of the repayment period, exemption or reduction of interest, overdue interest, further new lending … to people maintain production activities and business.
State Bank also report reported prime minister measures to remove difficulties for this sector of the industry, and propose to the Prime Minister of the fundamental solutions to remove difficulties for pig industry as work organization production and market work, ..
In the long term, to solve problems for the livestock sector, the Prime Minister has assigned the Ministry of Agriculture and Rural Development presided over, in collaboration with the relevant agencies and localities to continue with overall solutions, to guides and local livestock production methods to effectively and sustainably.