The plan focuses on improving the capacity and operational efficiency of the Vietnam Bank for Social Policies (VBSP). Accordingly, ministries, central branches and local authorities at all levels will carry out solutions on strengthening financial capacity and ensuring capital for VBSP to implement credit programs for social policies.

One of the main tasks and solutions of the plan is to improve the capacity and operational efficiency of the VBSP. (Photo: VBSP)

Specifically, social policy credit capital sources from the State budget, charitable capital and other legal capital sources should be focused on VBSP; prioritizing long-term, low-interest capital sources in order to improve the capital structure towards stability and sustainability.

Localities continue to balance and prioritize the allocation of capital from the entrusted local budget to VBSP in order to supplement capital sources for the poor and other policy beneficiaries.

The plan also highlights the linking of social policy credit with activities to support science and technology transfer; programs for agricultural extension, forestry, fishery and salt production; vocational training; and local socio-economic development projects to improve the efficiency of using social policy credit capital.

Develop and integrate models, programs and projects for sustainable socio-economic development and poverty reduction in the locality with the use of social policy credits; direct and well perform the investigation and identification of poor and near-poor households as a basis for the implementation of credit policies; strengthen the propaganda about the State's social policy credit to the people.

Implementing solutions to improve the efficiency of credit programs

The plan also focused on implementing solutions to improve the operational efficiency of VBSP and the efficiency of credit programs.

Specifically, researching and promulgating the development strategy of the bank in the 2021 – 2030 period, serving as a basis for research, development, issuance and completion of relevant regulations; actively implementing mechanisms, policies and measures to achieve the goals and requirements identified in the Strategy immediately after it is approved by the Prime Minister.

Continuing to effectively implement the organizational model and specific management method for social policy credit; proactively proposing and advising the Government, the Prime Minister, ministries, central branches, Party committees and local authorities at all levels to closely coordinate with socio-political organizations to realize Directive 40-CT/TW and Conclusion 06-KL/TW of the Secretariat.

Reviewing and restructuring the social policy credit programs being implemented at VBSP to be suitable with the requirements and needs; suitable with the capacity of capital resources, apparatus, organization and human resources of VBSP./.