Provincial Collective economic development support fund disburse loans of over VND 23 billion

From the beginning of this year, Management Board of Provincial Collective Economic Development Support Fund approved and disbursed loans to 12 members with total amount of over VND 23 billion, reaching 77.2% of the annual target, increasing total loans of the Fund to VND 56,884 billion. Besides, the fund continued to monitor, collect interest and principal of lending plans as prescribed; guided 17 applications of members who needed to borrow loan.

In addition, the fund examined the use of loan capital after disbursement of Cong Minh Cooperative, members of Tan My Fruit Cooperative, Dai Loi Cooperative, An Phu Cooperative, An Binh Cooperative, Hong Duc Cooperative, Binh Duong Agricultural Cooperative. The results showed that these cooperatives used loans for the right purposes, secured collaterals, repayment of principals and interests in accordance with credit contracts, guaranteed revenue sources, no bad debt.

Reported by Thoai Phuong – Translated by Ngoc Huynh

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