(HBO) - The COVID-19 pandemic recently has seriously affected disadvantaged people in Hoa Binh, especially the bank's customers who are poor and social policy beneficiaries.
Despite
complicated developments of the COVID-19 pandemic, the provincial branch of the
Social Policy Bank has timely disbursed capital to its customers.
Borrowers who have not repaid principaldebts, especially those that are
under medical treatment or quarantine due to COVID-19, will have their debt
payment deadline postponed.
The bank will also adjust the term of debts and provide new loans to help
customers restore their production and business, while focusing on handling
risky debts.
Amid the epidemic, thanks to its specific plans, the bank has promptly
disbursed credit to its customers, completing the planned target and ensuring
safety of its staff and customers.
In the first quarter, it disbursed 305.8 billion VND in loans to 9,139
customers.
By the end of March, total outstanding debt balance stood at over 3.17 trillion
VND, equivalent to 99.8 percent of the year plan, up over 50.4 billion VND, or
1.62 percent, compared to 2019.
Of which, the outstanding debt financed by local entrusted capital is 43.4
billion VND, increasing by 10.5 billion VND, and overfulfilling the year's plan
by 31 percent
The central Social Policy Bank has submitted a plan on reducing interest rates
for poor households and policy beneficiaries to the Prime Minister. If the plan
is approved, from April 1 to the end of 2020, the interest rates of loans to
poor households and loan programmes with interest rates equal to those for poor
households will be cut by 15 percent.
Meanwhile, the interest rates applied for those in other programmes will be cut
by 10 percent.
In the coming time, the provincial SocialPolicy Bank will be tasked with
providing loans to employers at a zero percent interest rate, to pay their
employees who had to stop working for three months.
The value of this support programme is expected to total 16.2 trillion VND,
benefiting about 3 million workers.
The provincial SocialPolicy Bank branch will closely follow the guidance
of the central SocialPolicy Bank to timely provide loans for customers,
towards helping customers overcome difficulties amid the pandemic./.
Appreciating the abundant potential and strengths of his hometown for tourism development, Ha Cong Hung, Deputy Secretary of the youth union of Mai Chau district’s Mai Hich commune, embarked on producing smoked meat with a desire to introduce his homeland's specialty to domestic and international tourists.
Hoa Binh farmers are investing big in their chilli pepper cultivation areas after the first batch of 7.5 tonnes of pickled chilli peppers was shipped to the Republic of Korea (RoK) by Tien Ngan Trade and Investment Co., Ltd last month.
Recognising the role and importance of developing the collective economy, the northern province of Hoa Binh has promptly issued support policies to propel the development of the economy, making important contributions to local socio-economic development.
Prime Minister Pham Minh Chinh attended a groundbreaking ceremony for an electronic printed circuit board (PCB) factory at Da River Left Bank Industrial Park in Hoa Binh province on April 13. The electronic PCB factory is invested by Japan's Meiko Group at a total cost of 200 million USD.
In the first quarter of 2024, the credit institutions in the province have actively deployed the legal documents of the State and the State Bank relating to currency, credit and interest rates. At the same time, they have promoted the capital mobilization, focusing on the solutions to expand the credit investment along with strengthening the credit quality management, lending to priority programs to promptly meet the capital needs for export - business and consumer demand during Tet in 2024.
Outside the key economic region of Hoa Binh, yet Lac Son district has utilised its potential and strengths regarding labour, land, and transportation connectivity to attract investment to the locality, contributing to promoting socio-economic development.
