Timely financial aids on way to affected fish farmers

May 01, 2016 | 17:10

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The State Bank of Vietnam has formally requested local credit institutions to provide financial support to fish farmers and aquaculture businesses in the central provinces affected by the mass fish deaths.

Ky Anh - Ha Tinh photo source Tuoitre

As part of an attempt to help the local fishermen and aquaculture businesses in the regions to get back on track with their normal business, on April 29, the central bank has issued an official document urging credit institutions to review any current loans taken by these farmers and businesses, prompting banks to restructure the loan terms and considering to reduce or waive the interest rates in extreme cases.

In addition, banks are requested to continue granting new loans to both individuals and businesses in need, to help them overcome current difficulties and quickly resume with business as usual.

Dead fish were first reported at the beginning of April, in Ha Tinh province, with suspicions raised by discharge from a drainage system at the nearby Taiwan’s Formosa Group’s $10.5 billioin steel and port complex. Dead fish, shrimp and clam have since been found further south in provinces of Quang Binh, Quang Tri and Thua Thien-Hue, some 300 kilometres away from the original incident.

While the root of the issue has yet to be found out, local fish farmers and aquaculture businesses have felt the pain of the disaster, when they can hardly sell any fish and seafood in the local markets as well as suffer from seafood order cancellation.

Locals and tourists travelling to the regions are warned not to use dead fish of any kinds for consumption to prevent food poisoning.