Haenam-gun to Provide Up to 1 Million Won Interest Difference Support for Agricultural Policy Funds

Support for 1,868 Cases of Loan Interest Including Agricultural Comprehensive Funds in the First Half of the Year

Haenam-gun, Jeollanam-do announced on the 12th that it will support the interest difference on agricultural policy funds to revitalize the agricultural economy, which has been stagnant due to high inflation and high interest rates.

The support for the interest difference on agricultural policy funds will cover up to 1% of the 3% loan interest annually, up to a maximum of 1 million KRW (2 million KRW for agricultural corporations), for farmers wishing to take out loans for comprehensive agricultural funds, rural structure improvement funds, and comprehensive forestry funds. The Jeollanam-do provincial government and Haenam-gun will jointly compensate this amount.

Haenam-gun Office Building Exterior View

With the short-term fund interest rate reduction policy implemented by the Ministry of Agriculture, Food and Rural Affairs ending at the end of December 2022, Haenam-gun nearly doubled its budget from last year to support the interest difference on agricultural policy funds, providing support for a total of 1,868 cases in the first half of this year alone.

A county official said, “Farm households are facing great difficulties in farming activities due to rising operating costs and agricultural disasters,” adding, “We hope that the interest difference support project will help stabilize farm management.”

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