Needy people in northwest provided with soft loans hinh anh 1Illustrative image (Photo: VNA)
Hanoi (VNA) – The Vietnam Bank for Social Policies has provided an average of over 5.3 trillion VND (233.2 million USD) in soft loans for more than 630,000 poor households in the Northwest every year to help them escape from poverty.

According to the Northwest Steering Committee, thanks to the soft loans, the region’s poverty rate fell from nearly 35 percent in 2011 to below 11 percent at the end of 2016 and about 375,000 jobs were created.

The loans also helped more than 368,000 students from difficult backgrounds continue their education; and build approximately 940,000 systems for clean water supply and rural environment sanitation.

The regional rate of bad debt only remained around 0.25 percent.

Since 2016, northwestern provinces have taken comprehensive measures to support impoverished households so that they can improve their income and take part in rural job matching programmes.

The region’s poorest districts have been offered more than 1 trillion VND (44 million USD) to remove slums; build schools and medical stations; and provide vocational training for the locals.

A recent report estimated that about 30,000 poor households and 3,573 people in the region have received support in the first quarter of 2017. The number of people escaped from poverty rose by 5 percent from the same period last year.-VNA