PM Nguyen Xuan Phuc speaks at the Lunar New Year meeting of the Vietnam Bank for Social Policies. (Photo: VNA) Hanoi (VNA) – Prime Minister NguyenXuan Phuc has applauded significant contributions of the Vietnam Bank forSocial Policies (VBSP) to the country’s poverty reduction and socio-economicdevelopment while attending a Lunar New Year meeting of the bank on February 11or the seventh day of the first lunar month.
The leader stressed the goal of building the socialist-oriented market economy setby the Party and the State, with special attention paid to social welfarerelated issues.
The VBSP works as an important channel to fulfil the goal, he said, noting thatthe bank’s branches have successfully implemented incentives of the Party andthe State towards the poor.
The PM also lauded the bank’s efforts to ensure that bad debts account for amere 0.78 percent of its total outstanding loan balance, the lowest ratio inthe banking sector.
Thanks to efforts by the bank and the entire political system, funding of theParty and State has come to remote and far-flung areas and needy people, hesaid.
Reiterating the country’s target of inclusive growth with no one left behind,PM Phuc said more efforts should be made to ensure sustainable povertyreduction and drive back black credit.
On this occasion, he asked relevant agencies such as the Ministry of Financeand the Government’s Office to consider allocating charter capital to the bankannually to match the new situation.
Localities should pay more attention to policy credit and VBSP’s activities, aswell as support to the poor.
After 16 years of operation, VBSP has given loans to more than 34.1 millionpoor households and social policy beneficiaries, helping over 5.1 millionhouseholds escape from poverty and generate jobs for more than 3.6 millionlabourers.
The loans have also enabled over 3.6 million disadvantaged students to go toschool and helped built over 11.3 clean water and environmental hygienefacilities in rural areas and nearly 105,000 houses in the Mekong Delta. -VNA
VNA
