Ensure that funds are disbursed to the right recipients and for the right purposes.

(Baonghean.vn) - This morning, April 12, 2012, the Board of Directors' Representative Committee of the Social Policy Bank, Nghe An Branch, held its 30th regular meeting to evaluate the results of operations in the first quarter and implement tasks for the second quarter of 2012. Comrade Thai Van Hang - Member of the Provincial Party Standing Committee, Vice Chairman of the Provincial People's Committee - Head of the Board of Directors' Representative Committee, chaired the meeting.

In the first quarter of 2012, the Board of Directors of the Social Policy Bank directed all branches to effectively implement policy credit programs. Managed capital as of March 31, 2012 reached VND 5,469 billion, an increase of VND 277 billion compared to the beginning of the year, representing a growth rate of 5.34%. Total loan disbursements in the first quarter of 2012 reached VND 424 billion.



Comrade Thai Van Hang delivered a speech at the meeting.

The bank primarily focuses on lending to poor households, students, job creation, and labor export, with a total outstanding loan balance of VND 5,461 billion. Credit quality has improved, with the non-performing loan ratio decreasing to 0.33%. In addition, entrusted lending has been actively implemented, with all 9 credit programs achieving an outstanding loan balance of VND 5,391 billion, accounting for over 98% of the total outstanding loan balance of the entire branch.

At the meeting, the Standing Committee of the Representative Board raised several difficulties in the process of disbursing funds for poverty alleviation programs, labor export programs, and debt and interest collection in mountainous and highland districts.

Concluding the meeting, Comrade Thai Van Hang requested that in the second quarter of 2012, members of the representative board should actively direct and expedite the disbursement of funds before June 30th. First and foremost, focus on loan programs for poor households to build houses, engage in production and business activities, provide loans to students, and support clean water and sanitation; recover overdue debts; and intensify capital mobilization to re-disburse funds to other target groups.

The Provincial Social Policy Bank needs to strengthen inspection and supervision of the operations of its district-level transaction offices and entrusted organizations, ensuring that funds are disbursed to the right recipients and for the right purposes, so that the State's preferential capital policies truly benefit the people throughout the province.

Quynh Lan