According to the Agribank Khanh Hoa, three fishing boats owners, Tran Ngoc Dong, Vo Ngoc Trang and Duong Cao Hoan in Nha Trang City owed total VND30.9 billion (USD1.34 million) to the bank. The loan was offered under Government Decree 67 which set out finance options for building and upgrading fishing boats nationwide.
Fishing boats in Khanh Hoa Province's Cai River
The branch reported that the disbursement was finished and most of the fishing boats that had benefited from the loan programme had been built and used. A number of fishing boat owners have repaid their debts; however, some had failed to pay what they owed.
Agribank Khanh Hoa has sued the three and plans to take the same action with three other boat owners that had defaulted on their loans.
Agribank Khanh Hoa offered loans for 20 local fishing boat owners worth VND209.6 billion (USD9.08 million).
