Nearly 550,000 Poor Households Provided with Soft Loans in Vietnam Ninh Binh

The Vietnam Bank for Social Policies (VBSP)’s Ninh Binh Branch has provided more than VND9.84 trillion ($415.63 million) in soft loans for around 547,870 poor households and other policy beneficiaries in the northern province over the last two decades.

The information was announced at a conference held by the provincial People’s Committee on September 19 to review the 20-year implementation of the soft credit policy designated for the poor and policy beneficiaries in Ninh Binh in accordance with the Government’s Decree 78/2002/ND-CP dated October 4, 2002.

The majority of the soft credit has been pumped into agriculture and rural development, with priority given to poor households and those from ethnic minorities and living in remote and extremely disadvantaged communes.

The VBSP Ninh Binh Branch has set a credit growth of 8% annually by 2030. It also plans to keep the annual delinquency rate below 0.5%. (BNews, VBSP)