The Vietnam Bank for Social Policies (VBSP) has received the green light to increase their credit ceiling from 6.5 percent to 10 percent, or 11.6 billion VND (532,000 USD).

According to Decision No 899/QD-TTg on amending the bank’s 2015 credit plan announced by the Government, the bank’s total credit as of December 31, 2015 will reach 141 trillion VND.

It also represents an increase of 4 trillion VND from the bank’s former plan as part of the bank’s Development Strategy through 2020, approved by the Prime Minister.

The VBSP is allowed to increase the amount each household can borrow from 30 million VND to 50 million VND.-VNA