The information was revealed by Deputy General Director of the Vietnam Bank for Social Policies (VPSP) Tran Lan Phuong at a conference to review the bank’s operation in 2018.

Illustrative image.

Last year, the bank excellently fulfilled its credit growth target set by the Prime Minister, significantly contributing to realizing the national target programmes on sustainable poverty reduction and new-style rural area building.

The system’s credit growth hit more than 16 trillion VND while debt collection reached over 45.8 trillion VND, Phuong said.

Preferential credit came to all communes, wards and townships nationwide, focusing on those inhabited by ethnic minority people as well as disadvantaged, remote and border areas, he added.

The loans helped create jobs for more than 243,000 laborers, including nearly 6,000 sent to work abroad. Close to 51,000 poor students received loans to serve their study while over 1.3 million clean water and sanitation works were built in rural areas. About 30,000 houses were constructed for poor households, plus more than 2.800 social homes for low-income earners.

According to Phuong, despite high credit growth, overdue debts accounted for a small proportion, only 0.39 percent of total loan outstanding balance by December 31.

This showed that the credit quality was ensured, lending procedures were conducted seriously, and loans were used effectively by right persons, she stressed.

Poor people to receive chung cake ahead of Tet

A programme to make Chung cake (square, glutinous rice cake) for disadvantaged communities will take place at the Vietnam National Village for Ethnic Culture and Tourism from January 24-26, said the Ministry of Culture, Sports, and Tourism (MCST) on January 14.

 

Activities held to bring warm Tet to policy beneficiaries, the poor

Many activities have been organized nationwide to support disadvantaged people and policy beneficiaries on the threshold of the upcoming Lunar New Year (Tet) holidays which fall in early February.

 

HCM City brings warm Tet to policy beneficiaries, poor people

The People’s Committee of Ho Chi Minh City plans to spend some 800 billion VND (34.5 million USD) on gifts to policy beneficiaries and impoverished households in the city as the Lunar New Year (Tet) 2019 nears.

 

Helping the poor enjoy happy Tet holiday

(BGO) - Through the mobilization of the Fatherland Front Committees at all levels in Bac Giang province, many agencies, units, businesses and benefactors have joined hands to support the construction of hundreds of houses and prepare tens of thousands of gifts for poor households with especially difficult circumstances in order to help them have a warm and happy Tet holiday.

 

500 poor families financially helped to build new houses

Some 500 disadvantaged families in the central provinces of Quang Nam, Quang Ngai, Binh Dinh, Phu Yen and Khanh Hoa have received financial aid worth a total of 25 billion VND (1.07 million USD) to build their own houses.

 

Source: VNA