Credit programs well implemented by local Social Policy Bank

In the morning of June 11, the working mission of the Vietnam Bank for Social Policies was led by Le Ngoc Bao, Head of Supervisory Board and Member of the Board of Directors of Vietnam Bank for Social Policies. Meeting with representatives of the Board of Directors and the Social Policy Bank of Binh Duong branch. Dang Minh Hung, Deputy Chairman of the Provincial People's Committee, Head of the Board of Representatives of the Board of Directors of the Social Policy Bank of the province, and leaders of departments and sectors have received and worked with the delegation.

Overview of the session

There are currently 10 boards of representatives of the Board of Directors of the Social Policy Bank, including the Provincial Board of Representatives and nine District Representatives. In 2017, the Board of Representatives of the Board of Directors of the Social Policy Bank has implemented the policies, resolutions of the Board of Directors, superior documents and directed the implementation of the tasks. Representatives also advised the party committee, chairman of the same level; 9 districts, townships, 100 communes, 438 credit saving groups and 704 households, accounting for 100% of the yearly plan.

In terms of operation, in 2017, the branch of the Social Policy Bank has implemented credit programs. As of December 31, 2017, total outstanding loans of the bank's credit programs were VND1,772 billion, an increase of VND 366 billion compared to the beginning of the year; Establishing 1,604 savings and loan teams spread across 91 communes, wards and townships. The Bank for Social Policy has implemented good policies for borrowers to reduce poverty. In the first five months of 2018, the bank's lending increased by VND 365 billion same period in 2017.

At the meeting, the members of the Board of Representatives of the Board of Directors of the Social Policy Bank of the province suggested the Bank for Social Policies to increase the capital of the Binh Duong program with high demand such as loan for settlement employment, social housing loans, preferential loans small and medium enterprises.

Reported by T. Ly – Translated by Vi Bao

• Businesses concerned about rising exchange rate pressure (24/04)
• Q1-2024, provincial socio-economic situation continues to have positive changes (24/04)
• Policy credit requires local entrusted capital source to balance (23/04)
• Creating favorable conditions for social housing buyers (23/04)
• Giant Group pours additional US$ 120 million into Binh Duong (23/04)
• Thuan An city in striving to fulfill type-1 urban criteria (22/04)
• Vietnamese furniture products introduced at Milan Design Week (21/04)
• Local real estate market strongly attracts foreign investors (20/04)