Rice trading businesses to receive loans from banks

Commercial banks have been asked to balance their capital to offer timely loans to businesses trading rice.

This is according to circular no. 8/2011 issued by the State Bank of Vietnam (SBV) regulating credit to rice exporters and importers.

The circular states that if the price of rice is lower than the set target, commercial banks must offer loans to businesses so they can purchase rice in accordance with periodical directions from the Prime Minister and the SVB.

The circular will take effect on May 22nd.

Tags: Vietnam rice, Vietnam rice exports, Vietnam rice exports 2011

Posted by VBN on Apr 11 2011. Filed under Agriculture, Banking-Finance. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry