Bac Ninh: Social policy capital helps over 80,000 households escape from poverty

The VBSP presented 1 billion VND to the fund for the poor of Bac Ninh. (Photo: VNA)

Bac Ninh (VNA) – Over the past 20 years, loans provided by the Vietnam Bank for Social Policies (VBSP) has helped nearly 80,000 households in Bac Ninh get rid of poverty, heard a conference to review the implementation of a Government decree on credit support to the poor and policy beneficiaries in the northern province in the past two decades.

According to Director of the VBSP Bac Ninh Branch Dam Le Van, over 3.47 trillion VND (146.75 million USD) have been provided to the needy so far, 23 times higher than that that recorded when the bank was established. Of the total, the entrusted capital from the local budget is 406 billion VND, accounting for 11.7%

The capital has helped created jobs for more than 45,000 labourers, and enabled nearly 152,000 local students continue their studying. Nearly 411 clean water and rural sanitation works have been built and upgraded thanks to the capital source.

In the time to come, the VBSP Branch in Bac Ninh will strive for an average annual growth of at least 8% in capital and outstanding credit, said Van.

Chairman of the provincial People’s Committee Nguyen Huong Giang hailed the efforts of the VBSP in implementing the decree, helping reduce the ratio of poor households in the province from 7.65% in 2002 to 1.15% in 2021 under multi-dimensional standards.

Giang asked the bank to promote the general strength of the whole political system and the joint efforts of the entire society for better social security in the province. At the same time, it is necessary to effectively manage the social policy credit in line with socio-economic development goals of the province, she said.

On the occasion, the VBSP presented 1 billion VND to the fund for the poor of Bac Ninh. A number of collectives and individuals with outstanding performance in implementing the decree were honoured./. 

VNA