Provincial Bank for Social Policies helps develop economy

Upholding results in the first half of this year, the provincial Bank for Social Policies has cooperated well with organizations and units to facilitate people’s loans.

 poor people in Phu My ward enjoy loans from the provincial Bank for Social Policies.

To help the poor approach loans easily, employees of the bank have enthusiastically instructed ways of procedures and capital disbursement for their clients. Nguyen Thi Muoi in Phu My ward, said with simple procedures, she enjoyed a 3-year loan for income improvement in 2007. After that, she continued borrowing loans at the bank to develop home-based business.

There are many other poor households approaching loans from the bank to improve their living standard. At present, a loan level for poor households has been increased significantly with VND10-15mil per household.

Overall, in the first half of this year under the instruction of central Bank for Social Policies, the provincial Bank for Social Policies launched 9 credit programs and disbursed loans rapidly. The bank’s total outstanding loan reached over VND768bil, reaching 95% of central bank’s entrusted plan.

The above capital source was for poor households, students and some other programs. Of this, over VND9.8bil was for job placement, VND20bil for students, VND35.643bil for clean water and environmental projects and so on.

With efforts and dynamic measures, big credit programs were disbursed and ensured capital sources for people in need. Aside from important tasks of helping many people approach preferential loans from the Government, the bank also makes efforts to shrink time of consideration and assessment of applications. On average, it takes 3-5 days for people in need to receive loans.

Harmonic cooperation between branches of the bank and units, many needy families have escaped poverty and improved their living standard.

Reported by T.Hong – Translated by A.C           

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