Starting from July 1, farmers are allowed to borrow up to 300 million VND (12,000 USD) without collateral as part of efforts to promote agriculture and rural development, according to a new Government decree.

A duck raising farm in Quang Yen township, Quang Ninh province. Starting from July 1, farmers are allowed to borrow up to 300 million VND (12,000 USD) without collateral.

The Government has issued Decree No 156 amending previous policies under Decree No 25/2015 and Decree 116/2018 on credit policies for agriculture and rural development, according to the State Bank of Vietnam.

The new policy increases the unsecured lending ceiling for households and individuals from 100–200 million VND to 300 million VND.

For cooperative groups and household businesses, the limit is increased from 300 million VND to 500 million VND. Farm owners can borrow up to 3 billion VND from previously 1–2 billion VND while cooperatives and alliances will be able to borrow up to 5 billion VND, up from 1–3 billion VND.

The decree also simplifies loan procedures. Accordingly, borrowers are no longer required to submit certificates proving their land is dispute-free.

The submission of land use right certificates will be handled based on agreement between borrowers and banks rather than being made compulsory.

Notably, the decree expands credit incentives to include organic and circular agriculture, allowing them to access preferential terms similar to those of high-tech and value-chain based agricultural production.

This is seen as part of Vietnam’s broader efforts to promote sustainable and modern farming.

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