Provincial Social Policy Bank to grant VND3,130 billion loans to policy people

On 24th June, provincial Social Policy Bank held a meeting to assess the first 6 months of 2020. Dang Minh Hung, Vice Chairman of Provincial People's Committee, Head of Representative Board of Directors Board of provincial Social Policy Bank, chaired the conference.

Vo Dinh Phong (right), Director of State Bank of Vietnam - Binh Duong Province Branch, awarded State Bank Governor's certificate of merit to Dang Minh Hung.

Over the first 6 months, provincial Social Policy Bank implemented 11 credit programs to lend poor households and other policy beneficiaries, with a total loan of VND 3,130 billion, mainly focusing on loan programs for poor households, near-poor households, students, etc. Policy credit with preferential loans have been provided to the poor and other policy beneficiaries, making a contribution to reducing poverty rate sustainably, job creation and social security guarantee in the area. Besides, provincial budget was transferred to provincial Social Policy Bank to lend poor households and other objects with the amount of VND186 billion, of which VND156 billion from provincial budget, VND30 billion from the district budget; raising the total local budget capital to VND1,530 billion.

The whole province has now 88/91 communes, wards and towns with transaction offices of Social Policy Bank at communes. The transaction offices are located within People's Committees of communes, wards and towns. Preferential policy credit, lending programs, transaction rules, list of outstanding loans, and working procedures are posted publicly at transaction offices. 

Speaking at the conference, Mr. Hung asked Directors Board of provincial Social Policy Bank to clearly identify the tasks in the last 6 months, while preventing the Covid-19 and developing the economy. This is a dual task thus the bank would face many difficulties. The bank needs to reassess borrowers, create favorable conditions for poor households to borrow loans, and create jobs but must use funds efficiently.

On this occasion, Mr. Hung was awarded Certificate of Merit by the Governor of Vietnam State Bank for his outstanding achievements over the 5-year implementation of Directive No. 40-CT / TW of the Party Central Committee's Secretariat on "Strengthening the Party's leadership on social policy credit".

Reported by Quang Tam - Translated by Ngoc Huynh

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