Binh Dinh fishermen access off-shore ship building credit
The Bank for Investment and Development of Vietnam (BIDV) has disbursed the first credit package of 61 billion VND (2.8 million USD) for fishermen in central Binh Dinh province to build new ships serving off-shore operations.
The Bank for Investment and Development of Vietnam (BIDV) hasdisbursed the first credit package of 61 billion VND (2.8 million USD)for fishermen in central Binh Dinh province to build new ships servingoff-shore operations.
The loan duration is 11years with an interest rate of 7 percent for the first year. If thedebtors are eligible to the State financial assistance policy, they willbe exempt from the first-year interest and obtain a 1-percent yearlyinterest payment.
The loan will cover most of the shipbuilding cost, facilitating the locals to better carry out their business at sea.
According to BIDV Chairman Tran Bac Ha, 23 fishermen have registered for the bank’s credit package thus far.
The package is offered as the realisation of the Government’s Decree67/2014/ND-CP, which provides basic policies to boost fisheriesdevelopment, including assisting fishermen in building high-capacity,iron-covered ships designed for offshore fishing, a practice that couldearn fishermen higher incomes.
Asmany as 2,079 new off-shore fishing ships and 205 logistics ships areexpected to be built under this decree, according to the Ministry ofAgriculture and Rural Development.
With a coastline of more than 134km, Binh Dinh has three major ports, namely Tam Quan, De Gi and Quy Nhon.
The province has a fishing fleet of over 7,400 vessels includingnearly 3,000 offshore fishing ships with capacity ranging from 90 toover 1,000 CV each.-VNA
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The VNA delegation, led by General Director Vu Viet Trang, actively participated in the event, engaging in both professional and diplomatic activities.
