(Photo: VOV)

(VOVworld) – The central coastal province of Khanh Hoa will grant fishermen loans to build iron-clad fishing vessels under a pilot program to increase the value chain of the tuna fishery industry. The Bank for Investment and Development of Vietnam (BIDV) will offer loans with an interest rate at 2% per year over 10 years, plus a 1-year extension to experienced offshore fishermen working for cooperatives.

Vo Thien Lang, President of the Khanh Hoa Fishery Association, said: “In fact, our wooden boats are already worn out so it’s necessary to modernize the fleet. High-capacity vessels will make fishermen feel more secure.”

Khanh Hoa province aims to build 32 iron-clad boats between 2015 and 2020.