Over 90,000 households escape poverty thanks to credit policy

10/6/2017 - 3:30:07 PM

(HBO) – The People’s Committee of Hoa Binh province recently organised a conference to review 15 years of implementing preferential credit policy. The event was attended by Bui Van Tinh, member of the Party Central Committee and Secretary of the provincial Party Committee; Bui Van Cuu, Vice Chairman of the provincial People’s Committee and head of the representative board of the provincial Bank for Social Policies and Bui Quang Vinh, Deputy General Director of the Vietnam Bank for Social Policies.

Photo: Bui Van Cuu, Vice Chairman of the provincial People’s Committee and head of the representative board of the provincial Bank for Social Policies, presents certificates of merit to excellent individuals.

Bui Quang Vinh, Deputy General Director of the Vietnam Bank for Social Policies, hands over certificates of merit to typical individuals.

After 15 years of carrying out the preferential credit policy, the provincial Bank for Social Policies has deployed 15 credit programmes with total outstanding debts of nearly 2.7 trillion VND and overdue debts of 3.5 billion VND, accounting for 0.13 percent of total outstanding debts. In the past 15 years, more than 426,000 impoverished households and policy beneficiaries have been provided with loans by the bank. These loans have helped over 90,000 families get out of poverty (poverty rate dropping by 3 percent on average annually), create jobs for 73,000 labourers and support the poor in building 19,000 houses as well as 90,000 clean water and environmental sanitation works.

Nearly 1,000 labourers were provided with soft loans to work abroad. Some 35,000 disadvantaged students were enabled to go to school thanks to the loans, while more than 8,000 ethnic minority households were assisted in production and business activities.

During 2017-2020, the province has set a target of providing vital products and services of the Bank for Social Policies for all of poor people and policy beneficiaries.

Secretary of the provincial Party Committee Bui Van Tinh stressed that the credit programme has affirmed its role in the province’s socio-economic development, ensuring social security and implementing the national target programme on sustainable poverty reduction and new style rural area building.

Tinh hoped that in the coming time, the Vietnam Bank for Social Policies will provide more funds for the poor to step up production, making contributions to effectively implementing Instruction No. 40-CT/TW of the Party Central Committee’s Secretariat on enhancing the Party’s leadership in social policy credit programmes and promoting communication works for credit activities to ensure sufficient capital for the beneficiaries.

On this occasion, the Chairman of the provincial People’s Committee granted certificates of merit to 10 organisations and 15 individuals and the General Director of the Vietnam Bank for Social Policies bestowed certificates of merit to 30 organisations, 62 individuals and four families for their contributions to the implementation of poverty reduction and social security programmes in the province./.

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