Thuan An City to disburse over VND2.5 billion of policy fund

Social Policy Bank branch of Vinh Phu ward (Thuan An City) has disbursed more than 2.5 billion VND for 60 poor households and other policy beneficiaries. Depending on demand and purpose of capital use, each household is entitled to borrow a loan of VND30 - 50 million for a period from 36 months to 60 months, with a preferential interest rate. With this loan, households have good conditions to invest in production and business to create jobs on the spot, contribute to increase income, gradually overcome difficulties and stabilize their lives.

It is known that, from beginning of this year to mid-November 2020, this bank branch disbursed a total loan amount of over 154 billion VND, with more than 3,200 poor households and other subjects as borrowers. The loans were mainly disbursed for job creation (nearly 70%), the rest was to support poor, near-poor, difficult students. Up to now, Social Policy Bank branch of Thuan An City has a total loan balance of nearly 410 billion VND, with nearly 8,000 households borrowers. Thanks to the attention and guidance of Provincial Social Policy Bank, the Party, and municipality, the borrowing procedure have been closely monitored; loans are used for right purposes; overdue debts only account for 0.16% of total outstanding loans.

Reported by Van Tien - Translated by Ngoc Huynh