Poultry production restoring to cost 32.5 million USD, Ministry forecasts - HA NOI - The Ministry of Finance, in a document submitted to the Prime Minister, has proposed delayed payment dates for bank loans and financial support as part of a scheme to help ease the debt burden on farmers hard hit by the recent bird flu outbreak.

The scheme to restore poultry production in Viet Nam would totally cost 500 billion VND (32.5 million USD), the Ministry said, adding that it would take from two to three years for the industry to resume normal operations.

Around fifty percent of the amount will come from the central budget, it revealed.

Measures proposed by the Ministry include delaying payment date of bank loans to between 6 and 12 months and financial assistance equaling up to 50 percent of interest rate to be paid by debtors.

Subsidies would also be available for purchasing of fowl breeds by farmers as well as food for breeds for a three month period starting from December last year.

The Agriculture Department is scheduled to supply between 220-240 million of breeds free from the disease by 2005, according to the Department Director, Le Quoc Hung.

On Wednesday, thirty out of Viet Nam's 65 provinces and cities were declared free from bird flu.

More than 38 million poultry, or 15 percent of the Viet Nam's flock were slaughtered due to the epidemic.

Source: Viet Nam News Agency - 26th March 2004