VND5,000 billion to purchase coffee from farmers

Agribank signed a cooperative agreement with the Vietnam Coffee and Cocoa Association (Vicofa) to boost coffee development and exports.

Nguyen Ngoc Bao, Chairman of the Agribank Board of Directors, said the bank will provide loans for businesses to help them invest in new technology to avoid post-harvest losses. It will also offer capital to enterprises involved in the chain of production, purchasing, processing and exporting coffee.

Agribank is currently providing loans to around 400 businesses and 100,000 coffee households and farms across the country with a total annual debt balance of VND13,000-15,000 billion.

(VOV)