Local People's Credit Funds operate effectively

According to data from provincial Union of Cooperatives in 2022, the Management Council of the fund to support cooperative economic development has considered and approved loans for 15 projects. In which, there are 10 cooperatives, 5 cooperative members, with an amount of more than VND 38.8 billion, reaching 150% (beyond 50% of the plan in 2022), bringing the total outstanding loans to more than VND 62 billion.

Provincial Union of Cooperatives said that up to now, all 10 People's Credit Funds have operated stably with the number of members of 20,866, total capital of more than VND 2.13 trillion, outstanding loans of more than VND 1.35 trillion, total revenue estimated at more than VND118.3 billion. They have mobilized many idle capital sources from people, meeting the capital needs for members to invest in production, business and service life.

Reported by Tien Hanh-Translated by Kim Tin