Hanoi earmarks 28.2 mln USD for the poor amid COVID-19

Illustrative image (Photo: VNA)

Hanoi (VNA) – Hanoi will earmark 650 billion VND (28.2 million USD), the first stage, in support of the poor and other social beneficiaries via the local branch of Vietnam Bank for Social Policies (VBSP), amid the COVID-19 pandemic.

The municipal authorities asked the VBSP branch to work closely with local administrations, mass organisations and associations to promptly disburse the sum, which is expected to meet about 65 percent of loan demand.

Priority will be given to households enjoying debt payment rescheduling and extension, poor and near-poor households, cooperatives and small and medium-sized enterprises, mostly those working in agriculture, food supply, health care and necessities.

According to the VBSP, sectors hardest hit by the pandemic include animal farming, small-scale businesses and services, health care and transportation, with total outstanding loans of over 2.3 trillion VND (100 million USD), accounting for 28 percent of the total./.