Policy credit resources ensured for right borrowers

In the afternoon of January 25, Mr. Nguyen Loc Ha, Standing Member of Binh Duong provincial Party Committee, Deputy Chairman of the provincial People's Committee attended a conference to review the activities of the Representative Board of Directors (BOD) of the Bank for Social Policies - Binh Duong Branch (VBSP) in Binh Duong province in 2021 and tasks in 2022.

In 2021, the complicated development of the Covid-19 pandemic has had a comprehensive and profound impact on the production and business activities of enterprises and people, especially on poor households, nearly-poor households and other policy beneficiaries who are serviced by the provincial branch of VBSP. In such conditions, the BOD of the provincial branch of VBSP has led and directed policy credit activities to adapt to the new situation to meet the loan needs of the beneficiaries,

Accordingly, the head of the Representatives of VBSP at all levels has timely allocated policy credit funds to districts, towns and cities to meet the borrowing needs of beneficiaries with the total credit capital plan of VND 3,987 billion 378 million -  an increase of VND 613 billion 604 million from the beginning of the year; total market capital mobilization balance reached VND 532 billion 898 million - an increase of VND 75 billion 835 million from the beginning of the year, and gaining 138% of the plan; total outstanding loans reached VND 3,956 billion 369 million with 75,424 customers of outstanding loans - an increase of VND 594 billion 766 million compared to the beginning of the year, whic actively contributed to poverty reduction, job creation and social security assurance of the localities.

Speaking at the conference, Mr. Nguyen Loc Ha suggested that in the coming time, units need to balance the local budget in proportion to the capital allocated by the Vietnam Bank for Social Policies, to ensure that the policy credit capital comes to the right people. In addition, socio-political organizations need to strengthen lending supervision to lending households, and at the same time, People's Committees at all levels should participate in management and effectively prevent borrowers from moving their places of residence.

Reported by Thanh Hong – Translated by Vi Bao

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