Society

Disadvantaged residents in Northwest benefit social funds

The Vietnam Bank for Social Policies (VBSP) has provided preferential loans for around 2.6 million poor and near-poor families in the Northwestern region.
Disadvantaged residents in Northwest benefit social funds ảnh 1Customers use services at Vietnam Bank for Social Policies (Source: VNA)

Hanoi (VNA) – The Vietnam Bank for Social Policies (VBSP) has provided preferential loans for around 2.6 million poor and near-poor families in the Northwestern region, allowing 363,000 of them to escape from poverty, according to the bank.

The preferential loans have also supported the construction 712,000 clean water and sanitation works and 152,000 houses for the needy in the region.

Meanwhile, 128,000 people have found employment and 228,000 poor students could maintain their study as supported by the bank’s financial assistance.

By November 30, outstanding loans for the Northwestern region reached over 29.2 trillion VND (1.3 billion USD), representing an average growth rate of 15 percent and accounting for 20.8 percent of the country’s lending.

The Northwest is considered the poorest region in Vietnam and consists Hoa Binh, Son La, Lai Chau, Dien Bien, Yen Bai, Lao Cai, Lang Son, Tuyen Quang, Phu Tho, Bac Kan, Cao Bang, Ha Giang and part of Nghe An and Thanh Hoa provinces.-VNA

VNA
#Vietnam Bank for Social Policies#Northwestern region#preferential loan#outstanding loan
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