Making news

Over 2 million poor households access social policy bank loans

More than 2 million poor households won access to loans worth over 80 trillion VND (3.52 billion USD) from the Vietnam Bank for Social Policies (VBSP) last year.

The bank said on January 13 that its loans have helped to generate jobs for more than 608,700 labourers, and assisted 1,357 businesses to restore operations and 37,500 students to continue their study.

As of December 31, 2021, its accumulative credit loans reached 256.32 trillion VND, up 22.7 billion VND from late 2020.

Meanwhile, its outstanding balance stood at 247.97 trillion VND, a rise of 9.6 percent.

General Director Duong Quyet Thang asked the system to seriously observe COVID-19 prevention and control regulations, while implementing the credit plan as assigned by the Prime Minister.

He also ordered close coordination with all-level Party Committees, local authorities, and political-social organisations to synchronously roll out solutions to consolidate and improve credit quality.

Another key task is to step up inspections and raise the quality of the management and settlement of debts, and keep a close watch on natural disasters and developments of the COVID-19 pandemic to provide timely support for poor households and other social policy beneficiaries./.