Standard Chartered Bank Vietnam signed a US$70 million agreement to provide short-to-medium term working capital to An Giang Plant Protection-Joint Stock Co. that will allow the company to develop its large-scale paddy field model in the Mekong Delta. Under the model, An Giang purchases rice paddy from farmers who use the company’s products and then assigns agricultural engineers to advise those farmers, raising the quality of the rice produced and offering better returns. This is the first case of a foreign bank funding the development of the ‘big paddy model’ in Vietnam.
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