A working delegation of the State Bank of Vietnam (SBV) and commercial banks, led by SBV’s Standing Deputy Governor Dao Minh Tu, has recently visited Quang Ninh province to assess the damage caused by the third storm.
Ms. Ngo Thi Thuy from Thong Nhat 2, Tan An ward, Quang Yen town informed the delegation that her family had invested in 60 fish cages in Cam Pha and 45 cages at Ben Giang. Each cage contained approximately 500 fish. The storm overnight caused extensive damage, leaving only a few surviving fish, with losses amounting to VND 12 billion.
Currently, the household still owes Agribank VND 4 billion invested in fish cages. Ms. Thuy shared that the family only hopes for a debt postponement, rescheduling, and new loans from the bank to recover their production.
“If the bank trusts us and provides loans to quickly buy young fish for release, we can recover and repay the bank in just two years,” said Ms. Thuy.
Ms. Ngo Thi Thuy (in the conical hat) shares with the working delegation. Photo: SBV |
Mr. Vu Van Cuong, from Zone 3, Tan An ward, Quang Yen town, said, “My family’s three fish cages were damaged, resulting in losses of nearly VND 14 billion. Our neighbors suffered losses of VND 20-30 billion. If the bank enforces debt collection now, we don’t know what to do. We hope the bank will postpone debt collection, reschedule, and provide new loans to help us restart.”
According to Le Hoang Tung, Deputy General Director of Vietcombank, nearly 6,000 customers have been affected, with a total debt of about VND 71,000 billion. In Hai Phong and Quang Ninh alone, 230 customers were impacted, with a total debt of approximately VND 13,300 billion.
To support and accompany the people and businesses through these difficulties, Vietcombank has considered reducing the interest rate by 0.5% from September 6 to December 31, 2024, for customers borrowing capital for production and business, with a debt balance of about VND 130,000 billion. Nearly 20,000 customers will benefit from this interest rate reduction.
The interest rate reduction program applies to both existing and new debt balances to enable businesses and people to stabilize their production and lives and access bank credit.
Mr. Nguyen Duc Hien, Director of SBV – Quang Ninh Branch, said that as of September 10, a total of 11,058 customers in the province (with a total debt of VND 10,654 billion) were severely affected by the third storm, accounting for 5.6% of the province’s total debt. Notably, some customers with fish cages for aquaculture suffered severe losses as the cages were washed away by the storm.
The affected customers in Quang Ninh by industry include: agriculture, forestry, and fisheries with 6,270 customers and a debt of VND 1,463 billion; industry and construction with 533 customers and a debt of VND 5,243 billion; trade and services with 4,255 customers and a debt of VND 3,948 billion.
Deputy Governor Dao Minh Tu assessed that many customers and businesses have suffered losses and are unable to repay their debts, resulting in almost complete loss of assets with no other sources of compensation. This poses a significant challenge for authorities, especially the banking sector.
“There is a need for timely and appropriate policies to address both immediate and long-term needs, helping to stabilize people’s lives and recover from the storm’s aftermath,” the Deputy Governor directed.
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