Nearly VND1.44B Allocated for Loan Capital Granted to the Poor, Policy Beneficiaries
On December 26, Vietnam’s Binh Duong Provincial Department of Labor, War Invalids and Social Affairs held a signing ceremony of a contract to assign provincial budget capital to Provincial Bank for Social Policies granting preferential loans to the poor and other policy beneficiaries in the province.
The ceremony had the participation of Nguyen Loc Ha, Member of Provincial Party Standing Committee, Vice Chairman of Provincial People's Committee.
Total entrusted capital is VND1.44 billion. With the funds, Provincial Bank for Social Policies will proactively launch preferential credit programs, such as: lending loans to poor households; near-poor households; newly escaped poverty households; people who have completed their prison sentence; loans to buy and rent-purchase social housing; new construction, renovation and repair of housing; Loans to support job creation, job maintenance and expansion and other loans. Loan interest rates were determined according to regulations.
In order to manage and use the capital effectively, Ha requested Provincial Bank for Social Policies to continue implementing guiding documents of Party committees and authorities at all levels to further promote and enhance the role of social policy credit; prioritize the allocation of entrusted budget to the Social Policy Bank system in the province to supplement capital sources to meet the loan demands of the poor and policy beneficiaries; give advice to Board of Directors of Provincial Bank for Social Policies at all levels on directing and supervising the implementation of preferential credit policies; Socio-political organizations at all levels will enhance their role in implementing social policy credit effectively in the coming time.