Supporting pandemic-hit poor households with bank loans

The COVID-19 pandemic has turned many people’s lives upside down. For the poor, their already-difficult circumstances have become even more worrisome. In the central province of Nghe An, the local branch of the Vietnam Bank for Social Policies stepped up disbursement from the Unemployment Insurance Fund to help the poor overcome their difficulties and restore production.

As a near-poor household, when COVID-19 broke out, the life of Nguyen Van Tue from Cam Son commune in Anh Son district, Nghe An province, became even more difficult. He and his wife, who were self-employed, now don’t have a job. Fortunately, he received support from the Vietnam Bank for Social Policies, Nghe An Branch, with a loan of 90 million VND. He used the funds to buy four buffaloes and developed a farming model to create a long-term livelihood.

The COVID-19 pandemic has resulted in thousands of jobless workers returning to their hometowns. Nghe An saw the return of nearly 100,000 workers, most of whom are members of poor or near-poor households.

From May to September 2021, the Vietnam Bank for Social Policies, Nghe An Branch, disbursed nearly 800 billion VND to more than 19,000 poor households and other beneficiaries.

According to the plan, from now to the end of the year, the Vietnan Bank for Social Policies, Nghe An Branch, will disburse a further 150 billion VND to support poor and near-poor households at risk during the COVID-19 pandemic./.