Policy credit - Midwife for policy beneficiaries

Leaders of the Vietnam Bank for Social Policies (VBSP) donated 1 billion VND to the Fund for the Poor in Bac Ninh. (Photo: nhandan.com.vn)

So far, the total policy credit capital in Bac Ninh has reached 3,473 billion VND, of which, the entrusted local budget alone reached 406 billion VND, accounting for 11.7% of the total. Social policy credits were disbursed to all communes, wards and townships with more than 621,000 turns of poor households and other policy beneficiaries; timely supporting investment capital for production and business, and creating jobs for more than 45,000 employees.

In the coming time, VBSP in Bac Ninh strives to achieve average annual growth of capital and policy credit balance of 8% or more, of which the local budget entrusted through the VBSP will reach 100 billion VND a year.

The bank strives to maintain and improve the quality of policy credit, an overdue debt ratio below 0.3% out of total outstanding loans, and the annual interest rate will reach over over 99% of the receivable interest.

Speaking at the conference, Chairwoman of the Bac Ninh provincial People’s Committee Nguyen Huong Giang acknowledged the efforts of the staff of the VBSP, which contributed to the successful implementation of Decree 78/2002/ND.

She requested that in the coming time, the VBSP should promote the synergy of the whole political system, the consensus of the people and the whole society to do better social security. Along with that, it should closely follow the province’s socio-economic development goals to promptly and effectively deploy social policy credit activities in the locality./.