Four state-owned commercial banks along with LPBank, Sacombank, MB, ACB, Nam A Bank, OCB, Eximbank, BVBank, SHB, VietBank, and HDBank have been assigned to track and report the implementation results of the credit program, bearing responsibility for the accuracy of data submitted to the State Bank of Vietnam (SBV).

In a directive issued to commercial banks on April 15, the SBV requested that banks expand the scope and eligible participants of the credit program for agriculture, forestry, and aquaculture in line with Official Letter No. 5631 from 2023.

Accordingly, eligible borrowers include customers with projects or business plans in the agriculture, forestry, or aquaculture sectors.

The program will remain in effect until total disbursement reaches VND 100 trillion (approximately USD 4 billion), based on the registered loan volumes from commercial banks.

The SBV has instructed participating banks - including Agribank, BIDV, VietinBank, Vietcombank, LPBank, Sacombank, MB, ACB, Nam A Bank, OCB, Eximbank, BVBank, SHB, VietBank, and HDBank - to monitor and compile statistics on the program’s performance. These banks must also be accountable for reporting accurate data to the SBV and, if needed, to other relevant authorities.

All participating banks are required to fully adhere to the program’s commitments, particularly regarding eligible borrowers and interest rates.

In addition to the named banks, the SBV encourages other commercial banks interested in joining the program to follow the implementation guidance outlined in this directive and Official Letter 5631.

The initial preferential loan package for forestry and aquaculture was launched in July 2023 with a total size of VND 15 trillion (USD 600 million). By the end of January 2024, 13 participating banks had fully disbursed this amount, benefiting over 60,000 borrowers.

Following the SBV’s directive to double the loan package to VND 30 trillion (USD 1.2 billion), financial institutions promptly allocated additional funds to lend to thousands of new customers.

In August 2024, the government instructed the SBV to consider raising the package to VND 60 trillion (USD 2.4 billion).

In response to strong participation by commercial banks and growing demand from businesses and farmers, Prime Minister Pham Minh Chinh issued Directive No. 05 during the regular February 2025 government meeting, requesting the SBV to consider raising the total value of the loan program to approximately VND 100 trillion (USD 4 billion) and broadening its scope.

Loans under this program are offered at interest rates at least 1-2% per year lower than the average lending rates for equivalent terms during the same period.

According to Nguyen Xuan Bac, Deputy Director of the Credit Department for Economic Sectors at the SBV, loans for priority areas such as agriculture, rural development, small and medium-sized enterprises, export businesses, support industries, and high-tech enterprises currently enjoy a maximum short-term interest rate of 4% per year.

Tuan Nguyen