Further setting up project on entrusting loans to officials, civil servants and public employees for buying social housing apartments

On the afternoon of April 17, province-based branch of the Vietnam Bank for Social Policies (VBSP) held a meeting to review its operational results in the first quarter of 2024, directions and tasks for the second quarter of the year. Nguyen Loc Ha, Member of provincial Party Standing Committee, Vice-Chairman of provincial People's Committee, Head of the Representative Board of the Board of Directors of provincial VBSP branch.

In the first quarter, provincial VBSP branch was proactive to closely follow the directions of the Government, provincial Party Committee, People's Committee and the resolutions of the Board of Directors of provincial provincial VBSP branch and the Representative Board of the Board of Directors of provincial VBSP branch while coordinating with departments, sectors and localities to promptly disburse loans at the capital needs for production and business of poor households, near-poor households and other policy beneficiaries, actively contributing to the implementation of the target program on reducing poverty, creating jobs, ensuring social welfare and building new-style rural areas.

As of late March 2024, the total capital of provincial VBSP branch reached over VND 4.96 trillion, up over VND 43 billion compared to the beginning of the year. The branch’s total outstanding loans obtained over VND 4.66trillion, with 84,142 customers. Its total bad debt accounted for 0.22% of total outstanding loans, down 0.03% compared to the beginning of the year...

Concluding the meeting, Mr. Ha requested provincial VBSP branch to soon advise on setting up plans, establishing a Steering Committee and reviewing the ten-year  implementation of the Directive No. 40-CT/TW; further remove obstacles and create favorable conditions for the poor and other policy beneficiaries to easily access preferential credit policies. Regarding the project of entrusting loans to officials, civil servants, and public employees for buying social housing apartments, provincial VBSP branch needs to further research and discuss with functional sectors to grasp the current situation, roadmap, quantity and need of each subject in terms of social housing so that the province will calculate and allocate resources appropriately...

Reported by Thanh Hong-Translated by Kim Tin