The Vietnam Bank for Social Policies provided 1.22 billion VND to 2.06 million poor residents and policy beneficiaries in southwestern region in 2016 (Photo: VNA)Hanoi (VNA) – The Vietnam Bank for Social Policies (VBSP) aimsto offer 41 trillion VND (1.8 billion USD) of loans to the southwest region in2030, up 13 trillion VND (571 million USD), or 46 percent, compared to 2016,with average credit growth of 10 percent each year.
The bank will strive keep overdue debts below 1 percent of totaloutstanding balance and unpaid interest to fall at least 15 percent each year.
VBSP General Director Duong Quyet Thang said that the bank will continuefollowing the directions of the Party, Government, the Steering Committee forSouthwest Region, ministries and regional localities in designing credit policiesfor the region.
Vice Governor of the State Bank of Vietnam Dao Minh Tu said that the Statebank will work with agencies to give a more complete legal framework for thebank’s operation, while continue to seek capital resources for the bank.
The State Bank of Vietnam will also monitor VBSP credit programmes toensure their quality and effectiveness in reducing poverty and ensuring socialwelfare in the region.
Last year, VBSP’s total outstanding balance in the southwestern regionreached more than 27.83 trillion VND (1.22 billion VND), benefiting more than2.06 million poor residents and policy beneficiaries, 10.91 trillion VND (479million VND) higher than that of 2011, with an average increase of 10.5 percentin the 2012-2016 period compared to 1.8 percent of the country’s average creditgrowth.-VNA
The bank will strive keep overdue debts below 1 percent of totaloutstanding balance and unpaid interest to fall at least 15 percent each year.
VBSP General Director Duong Quyet Thang said that the bank will continuefollowing the directions of the Party, Government, the Steering Committee forSouthwest Region, ministries and regional localities in designing credit policiesfor the region.
Vice Governor of the State Bank of Vietnam Dao Minh Tu said that the Statebank will work with agencies to give a more complete legal framework for thebank’s operation, while continue to seek capital resources for the bank.
The State Bank of Vietnam will also monitor VBSP credit programmes toensure their quality and effectiveness in reducing poverty and ensuring socialwelfare in the region.
Last year, VBSP’s total outstanding balance in the southwestern regionreached more than 27.83 trillion VND (1.22 billion VND), benefiting more than2.06 million poor residents and policy beneficiaries, 10.91 trillion VND (479million VND) higher than that of 2011, with an average increase of 10.5 percentin the 2012-2016 period compared to 1.8 percent of the country’s average creditgrowth.-VNA
VNA
