The current operating capital of the Da Nang Farmer Support Fund is more than VND 40,048 billion. In 2021 and the first 4 months of 2022, the Fund disbursed capital for a total of 44 projects and provided loans to 378 households with the amount of VND 12.7 billion.

The Da Nang Farmers' Union-held meeting in progress to review the operation of the Fund in the first 4 months of 2020 and identify tasks for the rest of this year. Photo: VAN HOANG

As calculated, the total outstanding loans of more than 37.5 billion VND has granted for 174 projects for 1,412 households till date.

As for programmes to coordinate with banks, the total outstanding loans entrusted from the Da Nang branch of the Viet Nam Bank for Social Policies as of April 30 was VND776,155 billion and overdue debt ratio accounted for 0.08%.

The outstanding loan offered by the Lien Viet Post Bank through the Fund for 178 farmer members has reached VND 16.7 billion at a loan interest rate of 8.5% per year.

The above-mentioned figures were officially released by the Da Nang Farmers' Union at a meeting held on Tuesday to review the operation of the Fund in the first 4 months of this year.

For the rest of this year, the municipal Farmers' Union will direct its associations at all levels to continue promoting the purpose and effectiveness of the Fund and implement a plan to allocate capital from the Fund in 2022 to districts from recovered capital and focus on handling overdue debts at the units.

Also at the event the municipal Farmers' Union rewarded 10 collectives and 14 individuals in recognition of their outstanding achievements in the effective management and use of loans from the Fund in 2021.

Reporting by VAN HOANG – Translating by A.THU