Policy loans offered to millions of poor households

Photo for illustration. (Source: vbsp. org.vn)

Total credit balance by the end of March 2021 reached more than 230.55 trillion VND (10.01 billion USD), an increase of 4.35 trillion VND compared to the end of 2020. The credit was mainly used to serve production, business and job generation with 169.52 trillion VND, equivalent to 73.5% of the credit balance and the remainder was used to improve the livelihood.

The bank’s accumulative credit loans reached 239.2 trillion VND, up 5.77% from last year.

The units in the whole system actively advised the Party committees and local authorities at all levels to continue implementing Directive 40-CT/TW dated November 22, 2014 of the Party Central Committee’s Secretariat on strengthening the Party’s leadership over social policy credit. Local trust funds transferred to VBSP reached 22.86 trillion VND, an increase of 2.55 trillion VND against 2020.

Governor of the State Bank of Vietnam Nguyen Thi Hong, who is also Chairwoman of the Board of Directors of the VBSP, said since the beginning of this year, the VBSP has taken prompt actions in disbursement to meet capital demand of poor and near-poor households, and other social policy beneficiaries.

She ordered stepping up the reception of trusted capital from local bank for social policies, as well as the mobilization of deposits from organizations and individuals, while better retrieving due debts during the second quarter.

In addition, VBSP continues to more effectively implement Directive 40-CT/TW of the Secretariat and Decision 401/QD-TTg of the Prime Minister, Directive 11/CT-TTg dated March 4, 2020 of the Prime Minister on urgent tasks and solutions to remove difficulties for production and business, ensuring social security to cope with the COVID-19 pandemic/.


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