Ninh Binh: Some 550,000 poor households provided with soft loans

Tuesday, 20/09/2022 10:01
After 20 years of implementing Decree 78, the Vietnam Bank for Social Policies (VBSP)’s Ninh Binh Branch has provided more than 9.84 trillion VND (415.63 million USD) in soft loans for around 547,870 poor households and other policy beneficiaries in the northern province.
 Customers make transaction at the VBSP. (Photo: VNA)

The information was announced at a recent conference held by the provincial People’s Committee  to review the 20-year implementation of the soft credit policy designated for the poor and policy beneficiaries in Ninh Binh in accordance with the Government’s Decree 78/2002/ND-CP dated October 4, 2002.

Director of the VBSP’s Ninh Binh Branch Pham Duc Cuong said that, after 20 years, the organizational model of the branch has been cared for and perfected in line with the reality, mobilizing the strength of the whole society to participate in policy credit activities.

The majority of the soft credit has been pumped into agriculture and rural development, with priority given to poor households and those from ethnic minorities and living in remote and extremely disadvantaged communes.

Until 2030, the VBSP Ninh Binh set the target of having 100% of poor households, near-poor households, nearly-escaped households and other policy beneficiaries being eligible to access products and services of VBSP. It has also set a credit growth of 8% annually by 2030 and plans to keep the annual delinquency rate below 0.5%

On this occasion, Chairman of the Ninh Binh People's Committee presented Certificates of Merit to 20 collectives and 25 individuals who have made outstanding achievements in implementing preferential credit policies for the poor and policy beneficiaries./.