Banking apps on cell phones are helping people in rural areas manage their finances, said Pham Xuan Hoe, deputy director general of the Banking Strategy Institute at the State Bank of Vietnam (SBV) at the launching ceremony of the i3 programme held in Hanoi on November 14.
Microfinance, which provides preferential micro-credits with simple conditions, is seen as an effective tool to help women beat poverty, develop business and make contributions to the society.
A total of over 3.5 million students have gained access to loans to cover their tuition fees thanks to a government credit programme, according to the Vietnam Bank for Social Policies.
The central province of Thanh Hoa raised a fund of more than 5 billion VND (215,000 USD) from individuals and organisations at a ceremony held on September 7 to support flood-hit locals, helping them overcome difficulties and stabilise their lives.
How to ensure financial sustainability and long-term financial services for the poor at the same time remains a headache for both policy makers and financial service suppliers.
The application of digital technologies in providing banking services has proven effective, not only bringing better experience to urban customers but also helping banks introduce their services to low-income households.
A large number of poor people and women in Vietnam have not accessed mobile banking.
The Vietnam Bank for Social Policies (VBSP) has raised 150 billion VND (6.5 million USD) at the latest auction of Government-guaranteed bonds on the Hanoi Stock Exchange (HNX) held on July 23.
Social credit programmes have helped ethnic minorities in the Mekong Delta province of Tra Vinh escape poverty in recent years.
As of June 30, Vietnam Bank for Social Policies (VBSP) posted its outstanding balance for the first half of the year at the total of more than 181.76 trillion VND (7.9 billion USD), up 5.8 percent compared to the same period last year.
Capital from the Vietnam Bank for Social Policies (VBSP) has helped to reduce poverty significantly in the Central Highlands province of Lam Dong, especially among ethnic minorities.
Eight central coastal provinces will continue enjoying assistance in constructing storm- and flood-resilient homes for poor households under Decision No. 48/2014/QD-TTg, the Ministry of Construction announced.
Hanoi’s industrial production index rose by 7.8 percent in the first five months of this year, said Director of the municipal Department of Planning and Investment Nguyen Manh Quyen.
The legal corridor for social housing development has recently changed towards providing more incentives than it was first mentioned in the Housing Law in 2005.
Prime Minister Nguyen Xuan Phuc has signed a decision on the Government’s plans to borrow and pay loans as well as limits of loans in 2018.
Millions of working-age people with disabilities who have the ability to work are in need of help to access soft loans to pursue vocational training and employment.
Delegates at a seminar in Hanoi on April 12 suggested preferential loans should be accessible to people with disabilities as well as businesses employing the disabled.
The Vietnam Bank for Social Policies branch in the southern province of Dong Nai has offered more than 970 billion VND (43.11 million USD) in loans to nearly 38,000 poor and near-poor households.
