Illustrative image (Source: VNA) Hanoi (VNA) – Social policy credit helped to build morethan 4,000 houses, along with over 1.2 million safe water supply and sanitationfacilities in rural areas in 2019, according to the Vietnam Bank for SocialPolicies (VBSP).
Thanks to the bank’s loans, more than 266,000 people have gotjobs, with nearly 7,000 sent abroad as guest workers, and 36,000 disadvantagedstudents have continued their study.
The VBSP said its total credit balance stood at over 206.8trillion VND (8.9 billion USDD) as of the end of December 2019, up 10.1 percentcompared to last year’s figure.
Of the amount, 73.8 percent was channeled into production andbusiness activities that created livelihoods and jobs.
The rate of overdue and charge-off debts madeup 0.7 percent of the total outstanding balance.
Meanwhile, the outstanding balance of credit programmes assigned by the Prime Minister reachednearly 180 trillion VND, up 9 percent year-on-year.
The accumulative capital for social welfarecredit reached more than 216.36 trillion VND in 2019, up 17.58 trillion VNDfrom the year earlier, with 15.4 trillion VND entrusted by local budgets.
VBSP General Director Duong Quyet Thang hasasked the bank’s departments to follow the Government’s guidelines onsocio-economic development and credit growth plans in 2020 assigned by the PM.
He required all units of the bank to takeinitiative in mobilizing financial resources for lending and timely disbursingcredit in order to meet financial demands of the targeted groups, thuscontributing to reducing black credit and improving the operational efficiencyof the bank./.
VNA
