Society

Banks asked to expand support for disadvantaged members

Prime Minister Nguyen Tan Dung has asked the State Bank of Vietnam (SBV) and the Vietnam Bank for Social Policies (VBSP) to assist with housing gaps and generate jobs for welfare beneficiaries and households living at or below the poverty line.
Prime Minister Nguyen Tan Dung has asked the State Bank of Vietnam (SBV)and the Vietnam Bank for Social Policies (VBSP) to assist with housinggaps and generate jobs for welfare beneficiaries and households livingat or below the poverty line.

While visiting VBSPofficials on the occasion of the lunar New Year (Tet) on February 24,the Government leader directed the Ministry of Finance and the SBV toincrease loans for the VBSP to organise online credit transactions forthe underprivileged to develop production, build houses, and escapepoverty in a sustainable manner.

The Prime Ministersuggested the SBV allow the VBSP to increase loans for households andsmall- and medium-sized enterprises to expand manufacturing activities.

He spoke highly of the VBSP’s contributions to implementing the national target of sustainable poverty alleviation.

The crucial goal of the bank is to focus State financial resources onimproving the living standards of poor households, increasing humanresources training, and building new-style rural areas, he added.

After 12 years of operation, the VBSP has mobilised over 129.4trillion VND (8.08 billion USD) for lending. More than 25.5 millionimpoverished households and welfare beneficiaries had access to thebank’s loans valued at 285 trillion VND (13.4 billion USD).

The credit availability has helped over 3.6 million households riseout of poverty; created jobs for over 11 million labourers; supported3.3 million students to pursue their education; built over 6 millionclean water supply facilities and hygiene toilets in rural areas; andconstructed nearly 700 flood-proof houses in central provinces and102,000 in the Mekong Delta and Central Highlands, and 482 houses forneedy families nationwide.-VNA
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