Vietnam VBSP Lends $3.45B to 2M Poor Households in 2021

In 2021, Vietnam Bank for Social Policies (VBSP) has disbursed VND80 trillion ($3.45 billion) worth of policy loans to more than 2 million poor households in the country. The information was announced at the national online conference to deploy the 2022 mission of the VBSP. In particular, the support package has helped create jobs for 608,700 employees, restore production for 1,357 businesses, pay wages to more than 379,000 workers affected by the COVID-19 pandemic, build nearly 1.4 million clean water and sanitation works in rural areas, and form nearly 6,200 affordable houses. As of December 31, the total social policy credits reached VND247.970 trillion, up 9.6% compared to the end of 2020. The ratio of overdue debt and frozen debts accounted for 0.7% of total outstanding loans in the period. (Thoi Bao Ngan Hang, Bao Phap Luat)