It is necessary to continue social housing loan program

That was the directive of Dang Minh Hung, Vice Chairman of Provincial People's Committee, to provincial Social Policy Bank at the conference reviewing activities in the first 6 months and deploying plan in the last 6 months 2018 at provincial Social Policy Bank on 25 July (photo).

As of 30 Jun 2018, the total allocated capital as planned was over VND2,295 billion, up 29% compared with the beginning of the year; total disbursement was more than VND639 billion with 17,510 household borrowings; total debt collection was more than VND232 billion. Total outstanding loan until the end of June -2018 reached VND2,179 trillion with 70,483 households. With regard to credit quality, as of 30 Jun 2018, total overdue debt was VND 4,552 million, because some poor households were unable to pay their debts, new graduates could not find job… According to the plan, in the second half of 2018, provincial Social Policy Bank will continue to implement the loan program for purchase and rent of social housing; In the credit loan growth will limit to the lowest level of overdue debt...

Concluding the meeting, Mr. Hung stressed: Credit activities at provincial Social Policy Bank had many good changes; However, bad debt ratio was quite high, so management board of the bank needed timely solutions to accelerate the recovery of due debts, speed up disbursement process for poor households, near-poor households and other policy beneficiaries to timely invest in production, overcome difficult and escape poverty. Socio-political organizations need to work better in managing fund; regularly instruct, introduce efficient business models to members so that policy beneficiaries can access preferential capital sources.

Reported by T.Ly – Translated by Ngoc Huynh