Agribank's role in Vietnam's agricultural credit evolution

Nguyễn Thị Phượng, former Deputy General Director of Agribank, discussed the historical role of agricultural credit in Vietnam's development. She noted that the bank's origins are closely linked to the 'Khoan 10' mechanism (Resolution 10-NQ/TW in 1988), which reformed agricultural economic management.

During its early stages, Agribank transitioned from a state-allocated capital model to a commercial banking model, mobilizing its own funds to provide loans to production households. Despite facing challenges with a large workforce of approximately 30,000 employees—many with only primary qualifications—the bank implemented significant restructuring in 1990 to modernize its staff and improve professional standards to engage with international organizations like the World Bank and the Asian Development Bank.