Over 2.9 trillion VND loan for poverty reduction

Wednesday, 09/11/2022 13:53
After 6 years of receiving funds, the total loan turnover from the Poverty Reduction Loan Program at the Ho Chi Minh City Bank for Social Policies reached 2,937 billion VND, with 98,650 poor households, near-poor households, and new households escaping the near-poor household standard.
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People are supported to borrow capital at the Vietnam Bank for Social Policies 

Deputy Director of the State Bank of Vietnam’s branch in Ho Chi Minh City, Nguyen Duc Lenh, said that the loan program for hunger eradication and poverty reduction has been implemented since 1994.

By 2015, the fund for hunger eradication and reduction was handed over to the Ho Chi Minh City Bank for Social Policies for management and implementation, with the total outstanding balance of 213 billion VND.

Currently, the program’s outstanding loans reach 1,337 billion VND, a 6.3-fold increase compared to 2015 and accounting for 17.8% of the total outstanding loans of the Ho Chi Minh City Bank for Social Policies. The loan overdue debt is low, accounting for about 0.5% of the total outstanding loans of the program, showing that the lending program is very effective./.

 

BTA

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