HCM City supports policy beneficiaries to escape poverty

Thursday, 24/11/2022 16:15
After 20 years (2002-2022) implementing Decree 78/2002/ND-CP dated October 4, 2002 of the Government on credit for the poor and other policy beneficiaries, social policy credit capital in Ho Chi Minh City has accompanied and supported many policy beneficiaries.

As a result, this preferential interest rate capital has helped many people get out of poverty, while contributing to improving their lives to overcome difficulties.

Thanks to preferential loans from the Vietnam Bank for Social Policies in Ho Chi Minh City, a number of households in Binh Chanh district invested in a model of growing periwinkle and flowers with high economic efficiency. 

Nearly 276,000 households overcome poverty line

According to the Vietnam Bank for Social Policies (VBSP) in Ho Chi Minh City, over the past 20 years, nearly 1 million poor households and other policy beneficiaries have received loans from the bank with value reaching 21,486 billion VND, debt collection revenue of 13,905 billion VND.

Loans have helped nearly 276,000 households overcome the poverty line; created jobs for more than 321,700 employees; allowed 117,700 in difficult circumstances to  study; 197 enterprises to restore production and business and pay wages to more than 67,200 laborers affected by the COVID-19 epidemic.

From the support of policy credit capital, many effective business models have emerged and replicated, actively contributing to reducing the situation of usury and “black” credit.

As one of the localities in Ho Chi Minh City well implementing this welfare policy, Chairman of the District 12 People’s Committee Nguyen Van Duc said that over the years, the district has coordinated with the VBSP and other credit organizations to carry out many preferential loan packages for people with difficult circumstances in the area.

In addition, the District Labor Confederation also regularly connects businesses and workers, creating job opportunities for people with jobs and stable incomes so as not to be entangled in heavy interest loans or “black credit”.

Keeping up the good work

Director of the VBSP in Ho Chi Minh City Tran Van Tien said that from now to 2030, the bank strives to have 100% of policy beneficiaries (according to regulations) who have needs and are eligible for loans able to access the products and services provided by the Bank.

“We aim to improve the operational efficiency at the transaction points at communal level, creating maximum conditions for the poor and other policy beneficiaries to easily access the bank’s products and services,” said Tien.

From the perspective of upper management agencies, General Director of VBSP Duong Quyet Thang suggested that the VBSP in Ho Chi Minh City should better promote its role in linking social policies credit with socio-economic development plans and poverty reduction goals, ensuring social security in the city. In particular, it is necessary to focus on mobilizing resources, make the most of capital from the central government; and synchronously implement many solutions to improve the quality of policy credit.

Vice Chairman of the Ho Chi Minh City People’s Committee Duong Anh Duc said that with the motto “Understanding people's hearts, dedicated to serving”, social policy credit activities of Ho Chi Minh City have been accompanying the poor and other policy beneficiaries to access credit capital to develop production, create jobs, raise incomes, improve living conditions, rise out of poverty, and contribute to ensuring social security in the city./.