Rabobank, Sacombank partner to bring food and agribiz banking expertise to Vietnam

In line with rural development efforts.

Netherlands' Rabobank Group and Vietnam's Sacombank have signed a memorandum of understanding (MOU) establishing a partnership that will bring Dutch food and agribusiness banking expertise to Vietnam.

According to a press release from both institutions, Rabobank will provide technical support, training and expertise to the Sacombank to strengthen Sacombank's capability to launch an Input Financing Scheme in the cocoa sector.

Rabobank will also support Sacombank with the implementation of a tailor-made financing product in the horticultural sector and facilitate training to Sacombank staff.

The partnership supports Rabobank's development mission to assist financial institutions to improve rural access to financial services.

Here's more from Rabobank and Sacombank:

With almost three-quarters of the Vietnamese population living in rural areas, rural development and agriculture are crucial to Vietnam’s development.

“Rabobank is encouraged by the new opportunities created through the co-operation with Sacombank, In particular, cooperation is foreseen in the various supply chain projects that are currently managed by Rabobank in Vietnam” he said.

CEO of Sacombank, Mr. Phan Huy Khang said at the signing ceremony that the partnership with Rabobank will strengthen Sacombank’s institutional capacity and enhance the quality of products and services to targeted customers.

“Vietnam is developing rapidly and offers untapped growth potential for F&A companies in the region. We are delighted to partner Rabobank to strengthen our presence in the growing market. It’s our pleasure to share information, experience and knowledge about local agriculture, rural financial loan habit, challenges and potential opportunities for F&A in Vietnam with Rabobank."