Illustrative image (Source: VNA)Hanoi (VNA) – Close to 6.7 million poor households and policybeneficiaries gained access to preferential loans worth over 62 trillion VND (2.66billion USD) in 2018.
The information was revealed by Deputy General Director of the Vietnam Bank forSocial Policies (VPSP) Tran Lan Phuong at a conference to review the bank’soperation in 2018.
Last year, the bank excellently fulfilled its credit growth target set by thePrime Minister, significantly contributing to realising the national targetprogrammes on sustainable poverty reduction and new-style rural area building.
The system’s credit growth hit more than 16 trillion VND while debt collectionreached over 45.8 trillion VND, Phuong said.
Preferential credit came to all communes, wards and townships nationwide,focusing on those inhabited by ethnic minority people as well as disadvantaged,remote and border areas, he added.
The loans helped create jobs for more than 243,000 labourers, including nearly6,000 sent to work abroad. Close to 51,000 poor students received loans toserve their study while over 1.3 million clean water and sanitation works werebuilt in rural areas. About 30,000 houses were constructed for poor households,plus more than 2.800 social homes for low-income earners.
According to Phuong, despite high credit growth, overdue debts accounted for a smallproportion, only 0.39 percent of total loan outstanding balance by December 31.
This showed that the credit quality was ensured, lending procedures were conductedseriously, and loans were used effectively by right persons, she stressed.-VNA
The information was revealed by Deputy General Director of the Vietnam Bank forSocial Policies (VPSP) Tran Lan Phuong at a conference to review the bank’soperation in 2018.
Last year, the bank excellently fulfilled its credit growth target set by thePrime Minister, significantly contributing to realising the national targetprogrammes on sustainable poverty reduction and new-style rural area building.
The system’s credit growth hit more than 16 trillion VND while debt collectionreached over 45.8 trillion VND, Phuong said.
Preferential credit came to all communes, wards and townships nationwide,focusing on those inhabited by ethnic minority people as well as disadvantaged,remote and border areas, he added.
The loans helped create jobs for more than 243,000 labourers, including nearly6,000 sent to work abroad. Close to 51,000 poor students received loans toserve their study while over 1.3 million clean water and sanitation works werebuilt in rural areas. About 30,000 houses were constructed for poor households,plus more than 2.800 social homes for low-income earners.
According to Phuong, despite high credit growth, overdue debts accounted for a smallproportion, only 0.39 percent of total loan outstanding balance by December 31.
This showed that the credit quality was ensured, lending procedures were conductedseriously, and loans were used effectively by right persons, she stressed.-VNA
VNA
