Illustrative image (Source: VNA)

Hanoi (VNA) – As many as 56 trillion VND (250.9 million USD) worth of loans had reached more than 3.3 million poor students by August this year, helping them pursue their study, according to the Vietnam Bank for Social Policies.

The programme to offer credit for students has been implemented following the Prime Minister’s Decision 157/2007/QD-TTg issued on September 27, 2007.

The loan limit for each student has increased from 8 million VND per year in 2008 to 11 million currently, with monthly interest rate cut to 0.55 percent from 0.65 percent.

The bank has coordinated with local governments and social organisations to popularise the programme and mobilise resources for it, thus meeting the need of students.

It has worked to ensure the capital goes to right people and is used effectively. It has also supervised the implementation of preferential credit policies in an open and transparent manner.-VNA