Society

Nearly 10 million poor households receive preferential loans

Government-enacted credit policies, dedicated to local poor households, have enabled around 10 million families nationwide to access preferential loans, allowing 2.4 million of them to escape from poverty.
Government-enacted credit policies, dedicated to local poor households,have enabled around 10 million families nationwide to accesspreferential loans, allowing 2.4 million of them to escape from poverty.

The outcomes were highlighted in a report on theimplementation of poverty reduction policies between 2005 and 2012,completed by the National Assembly Standing Committee in late May.

The credit policies have met the majority of poor households’ demands for loans, the document said.

By 2012, more than 3.26 million poor households had accessed a loanworth 16 million VND (752 USD) on average. The loans accounted for 53.1percent of the total debit balance of the Vietnam Bank for SocialPolicies.

The committee has proposed the Government raise itspreferential credit policies for the poor and adjust loan sizelimits, interest rate and duration based on the reality of eachlocality.

The achievements in poverty reduction work in thereviewed period have contributed considerably to national growth and theimplementation of socio-economic development strategies and plans andnational target programmes, the committee said.-VNA
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