NongHyup Bank's 'NH Agricultural Food Green Growth Loan' Surpasses 500 Billion Won in 4 Months

[Asia Economy Reporter Kiho Sung] NH Nonghyup Bank's 'NH Agricultural Food Green Growth Loan' surpassed 500 billion KRW in new loan amounts just four months after its launch on the 23rd. Considering that the main subscribers of this product are small and medium-sized enterprises, farmers, and individual business owners, with an average loan amount per case around 200 million KRW, this is an impressive achievement.

According to Nonghyup Bank, in October last year, it developed the 'NH Green Growth Index,' which grades the innovation status of each ESG (Environment, Social, Growth) sector to support eco-friendly and social enterprises in response to the government's Green New Deal policy for the first time in the banking sector, and launched the 'NH Agricultural Food Green Growth Loan' utilizing this index.

This product is characterized by adapting ESG, which has recently become a core value of sustainable companies, to the agriculture and agricultural food sectors, and operating it with the concept of ESG meaning that Nonghyup Bank supports the growth of agricultural food companies.

It offers up to a 1.5 percentage point preferential interest rate, including up to a 0.6 percentage point rate discount based on the ESG index innovation status, and additional credit loan limits can be granted upon meeting certain conditions. Eco-friendly (low-carbon) certified agricultural and livestock product companies and animal welfare livestock farms receive preferential treatment in the E (Environment) category; (preliminary) social enterprises and companies conducting social contribution activities receive preferential treatment in the S (Social) category; and sixth industry certified and HACCP certified companies receive preferential treatment in the G (Growth) category.

Customers who receive this credit support are provided with linked support for entry into Nonghyup Mall and free management consulting to support the sustainable growth of agricultural food companies.

President Junhak Kwon stated, “Nonghyup Bank will become a leading bank in creating a green ecosystem in the agriculture and agricultural food sectors by continuously providing financial support to excellent companies practicing ESG in these fields, in line with the government's Green New Deal policy.”

This content was produced with the assistance of AI translation services.