Tuesday, 09/05/2017 06:37 (GMT+7)
The Vietnam Bank for Social Polices (VBSP) have said that it has disbursed nearly VND2.5 trillion as preferential loans for sending labourers from over 108,500 families abroad to work.
Poor labourers complete loan procedures at VBSP Lao Cai province branch. (Photo: VNA)
In particular, the preferential loan program has assisted nearly 109,500 members from poor families and beneficiaries families in poor districts for time-limited labour export contracts overseas, using nearly 2.014 trillion.
As of the end of March, VBSP outstanding balance for labour export reached over VND509 billion.
The VBSP loan program for labour export has been considered a practical credit channel for poor families and beneficiary families in poor districts, especially ethnic minority labourers, to have opportunities to escape poverty, thus increasing their qualifications and improving living standards. Thanks to the loans, many guest workers gain good income and send it to their families for expanding production.
According to Nguyen Van Ly, VBSP Vice General Director, the loans have made great contribution to poverty reduction programs. In addition, expanded labour export helps the country receive greater amount of remittances, deepen cooperative relationship with other countries, strenghthening national development and international integration.
Together with it, guest labourers have chance to master advanced technologies and modern working style, which helps them, after returning home, have more professional awareness and working experience in running small- and medium-sized enterprises, creating jobs for other labourers, and gaining higher working productivity./.
Compiled by BTA