Specifically, the banks have been asked to revise loan payment deadlines and loosen policies for husbandry businesses and households. Experts believe that banks' move to reduce interest and penalty rates and introduce lenient policies can help farmers recover quickly and boost productivity.
So far, Lien Viet Post Bank has responded with a preferential loan package of 22 million USD for frozen meat manufacturers and farming households. Kien Long Bank has also reduced interest rates by 30% for clients using the bank's credit for hog husbandry.
