Vietnamplus

A series of bank loans are helping Kho Mu ethnic minority people in Xop Chao village in the central province of Nghe An, to escape poverty.

The State Bank of Vietnam (SBV) has transferred to the Vietnam Bank for Social Policy (VBSP) the full 16 trillion VND (680.4 million USD) in cash to be allocated to help struggling employers and their employees amid the COVID-19 pandemic.

Prime Minister Nguyen Xuan Phuc has approved a bailout package worth 62 trillion VND (2.66 billion USD) to support people affected by the COVID-19 pandemic nationwide.

The Vietnam Bank for Social Policy (VBSP) has proposed cutting the loan interest rate for poor households by 15 percent from April 1 until the end of the year.

The Mekong Delta province of Hau Giang will provide housing loans worth 108 billion VND (4.7 million USD) for nearly 3,600 disadvantaged households in the locality between now and 2020.

Each production and business household in disadvantaged areas nationwide from March 15 is able to borrow up to 50 million VND (2,170 USD), instead of the maximum loan of 30 million VND (1,300 USD).

The Vietnam Bank for Social Policy (VBSP) set this year’s credit growth rate of 8 percent, according to the bank’s plan for 2016.

Government-enacted credit policies dedicated to impoverished families nationwide had given preferential loans worth over 38.4 trillion VND (1.71 billion USD) to more than 1.8 million needy households