Local People’s Credit Fund system works effectively

In 2013, Binh Duong province’s People’s Credit Fund system has continued stably operating and bringing high efficiency.

The whole province is now home to 10 People’s Credit Funds with around 49,000 members and total capital mobilized till 2013-end estimated at VND1.283trillion, up 9.7% compared to that of 2012. Also, their total outstanding loans in 2013 have been estimated at VND850bln, up 12.5%, with the ratio of bad debts only accounting for 1.08% of total.

Thanks to stable and effective operation, province-based People’s Credit Funds have contributed to the local hunger eradication, poverty reduction and socio-economic development. Many outstanding People’s Credit Funds, namely An Thanh in Thuan An town, Phu Hoa in Thu Dau Mot city, Phuoc Hoa in Phu Giao district, Thanh Tuyen in Dau Tieng district…, were also honored over the past time.

Reported by Thanh Hong-Translated by K.T