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| VBSP's operation aims to provide loans to poor households and other policy beneficiaries according to the regulations of the Government and the Prime Minister |
According to the report of the Vietnam Bank for Social Policies (VBSP), as of July 31, VBSP’s total capital reached 373,010 billion VND, its total outstanding balance reached 350,822 billion VND with nearly 6.9 million poor households, near-poor households and other policy beneficiaries still having outstanding balance.
In addition, policy capital source has supported nearly 6.8 million households to overcome the poverty line, created jobs for more than 7.2 million workers (of which nearly 145,000 workers went to work abroad for a limited period), supported nearly 4 million students in difficult circumstances to borrow money to study, helped buy more than 90,000 computers and online learning equipment for students, and built nearly 20 million clean water and rural environmental sanitation works.
In addition, nearly 731,000 houses were built for the poor and other policy beneficiaries, nearly 2,000 businesses and employers affected by the COVID-19 pandemic were loaned capital to pay salaries for workers who had stopped working, and restore production for more than 1.2 million workers.
VBSP is a type of policy bank, operating not for profit. It was established and operates under the provisions of Decree 78/2002/ND-CP dated October 4, 2002 of the Government, Decision 131/2002/QD-TTg dated October 4, 2002 and Decision 16/2003/QD-TTg dated January 22, 2003 of the Prime Minister.
Its operation aims to provide loans to poor households and other policy beneficiaries according to the regulations of the Government and the Prime Minister.
During more than 20 years of operation, VBSP has continuously improved and successfully implemented the model of governance and management, and has received and managed credit capital safely and effectively. It promptly implemented the policies and guidelines of the Party and the State on social policy credit, contributing to successfully implementing national target programs such as sustainable poverty reduction; building new-style rural areas; developing the socio-economy of ethnic minorities and mountainous areas and ensuring social security./.