The Vietnam Bank for Social Policies (VBSP) has disbursed over 2.5 trillion VND (112.5 million USD) to help locals address the aftermath of the extensive severe cold and snow in early 2016.
Many hectares of crops were destroyed due to the severe cold in early 2016 (Photo: VNA)
Hanoi (VNA) – The Vietnam Bank for Social Policies (VBSP) has disbursed over 2.5 trillion VND (112.5 million USD) to help locals address🎀 the aftermath of the extensive severe cold and snow in the northern and north-central regions in early 2016.
As of February 22, more than 7,300 households borrowed some 167 billion VND (7.5 million USD) from the VBSP, to deal with the damage which was calculated at over 6,900 dead cattle and 1,367 hectares of destroyed farmland.
Governors of the State Bank of Vietnam and the VBSP have directed relevant units to work with authorities and social-political organisations to support locals in the affected areas.
The VBSP also provided loan term extensions for borrowers suffering from the cold spell.
Accordingly, families with damage reported at between 40 and 80 percent will receive a three-year loan extension, while those with damage of above 80 percent will enjoy five-year loan extensions.
During the extended terms, the debtors will not be required to pay interest.-VNA
A severe cold spell that hit Vietnam during the last few days has taken its toll on the northern region with more than 3,900 livestock animals killed and a widespread area of crops damaged so far.
The Husbandry Department has instructed cities and provinces affected by the frosty cold to take measures to ease the damage caused by the severe weather to the animal breeding sector.
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Many hectares of crops were destroyed due to the severe cold in early 2016 (Photo: VNA)
