Delegation of National Assembly of Nghe An province works with Vietnam Bank for Social Policies

Delegation of National Assembly of Nghe An province worked with Vietnam Bank for Social Policies.

Attending the working session on behalf of the National Assembly Delegation of Nghe An province were comrade Thai Thanh Quy - Member of the Party Central Committee, Secretary of the Provincial Party Committee, Head of the National Assembly Delegation, Chairman of the Provincial People's Council and National Assembly deputies in the Delegation.

On the side of the Vietnam Bank for Social Policies, there were Mr. Duong Quyet Thang - General Director, Deputy General Directors; Heads and Deputy Heads of Departments of the Vietnam Bank for Social Policies; Director and Deputy Director of the Vietnam Bank for Social Policies, Nghe An branch.

At the meeting, Mr. Duong Quyet Thang - General Director of Vietnam Bank for Social Policies reported on the process of formation, development, organizational model, management method and results of implementing some key tasks in implementing social policy credit. Accordingly, with the motto of operation"Understanding people's hearts, serving wholeheartedly"Over the past 20 years, implementing policy credit programs according to the growth targets assigned by the Prime Minister, the total policy credit capital by May 31, 2023 reached 317,182 billion VND, an increase of 310,077 billion VND (44.6 times) compared to 2002, the average annual growth rate reached 21.4%...

In addition, the Bank has also implemented a number of important policies of the Party and the State in recent times such as: lending policy under Resolution No. 11/NQ-CP dated January 30, 2022 of the Government has been effectively implemented with many preferential credit policies to implement the National Target Program on socio-economic development in ethnic minority and mountainous areas; credit for students with difficult family circumstances to buy computers; credit for non-public preschool and primary education institutions; issuance of preferential bonds, support for lending interest rates, ensuring full satisfaction of the borrowing needs of policy beneficiaries.

For Nghe An province, the Vietnam Bank for Social Policies has balanced and assigned the implementation plan target in 2022 and 2023 of 694 billion VND, of which: The job creation support program is 190 billion VND; the remaining 4 programs are balanced and assigned according to the needs of the branch. The total credit growth demand for the branch's loan programs in 2023 is 256 billion VND and has been assigned sufficient targets according to the demand. As of May 31, 2023, the total outstanding balance of the loan programs is 601 billion VND, of which the loan program for students to buy computers is 95 billion VND; the social housing program is 207 billion VND; Job creation is 190 billion VND; Loans for preschool education facilities are 5.1 billion VND; Loans according to Decree 28/2022/ND-CP are 104 billion VND.

In particular, the local budget capital entrusted to the Social Policy Bank is increasing. As of May 31, 2023, the total local budget capital entrusted to the Social Policy Bank for lending to poor households and policy beneficiaries reached VND 34,387 billion, accounting for 10.8% of the total capital of the Social Policy Bank, an increase of VND 30,579 billion compared to before the Directive.(in thereLocal trust capital of Nghe An province reached 290 billion VND, accounting for 2.4% of total capital).In general, social policy credit does not leave out any beneficiaries.

In order to promote the effectiveness of social policy credit in general, in Nghe An province in particular, along with providing some key contents on the development strategy of the Social Policy Bank until 2030, the General Director recommends that the Provincial National Assembly Delegation promptly propose to the Party Committees and authorities at all levels in the province to direct the effective implementation of Directive No. 40-CT/TW, Conclusion No. 06-KL/TW of the Secretariat and Decision No. 1630/QD-TTg of the Prime Minister, in which priority is given to balancing and allocating local budgets entrusted to the Social Policy Bank every year to supplement loan capital. Develop a plan to effectively implement the goals, tasks and solutions in Decision No. 05/QD-TTg dated January 4, 2023 of the Prime Minister in the province, in which priority is given to balancing additional local budget capital sources until 2030, accounting for about 15% of total capital sources, contributing to the overall success of the Development Strategy of the Social Policy Bank until 2030. Continue to balance additional capital sources for loans to create jobs in the coming time so that the Nghe An Provincial Policy Bank can promptly meet the demand for loans, create jobs, stabilize the lives of workers, and ensure social security in the locality in the context of recovery after the Covid-19 pandemic.

Nghe An delegates attend a working session with the Vietnam Bank for Social Policies. Photo: Phan Hau

At the same time, the Social Policy Bank, Nghe An branch, studies and coordinates with departments and branches to advise on the issuance of lending mechanisms for local entrusted capital sources to implement lending for social housing programs for low-income people, housing for workers and policy beneficiaries in accordance with the actual situation in the province. Continue to create the best conditions and pay attention to directing the effective implementation of policy credit in the province, while creating conditions to support facilities and working conditions for the Provincial Social Policy Bank and districts and towns. Develop programs and projects, linking investment in economic models with social policy credit capital and consumption of goods and products; Promote agricultural, forestry, fishery and vocational training activities so that people can access and gradually improve the efficiency of capital use.

Along with that, it is recommended that the Fatherland Front, the Provincial National Assembly Delegation, socio-political organizations and relevant functional agencies of the province direct and implement the inspection and supervision of the implementation of policy credit to ensure publicity and transparency for the right beneficiaries and the right purposes of use to maximize the effectiveness of social policy credit.

Regarding the issues reported and recommended by the General Director of the Vietnam Bank for Social Policies, National Assembly delegate Vo Thi Minh Sinh noted that, in the past, the role of the Fatherland Front in social policy credit as stipulated in No. 40-CT/TW and Conclusion No. 06-KL/TW of the Secretariat was still modest. In the coming time, the Fatherland Front at all levels with the Social Policy Bank system will have better coordination through the Signing Program No. 10 dated December 23, 2022 between the Central Committee of the Vietnam Fatherland Front and the Vietnam Bank for Social Policies. However, in the upcoming signing program in localities, it is necessary to clarify and unify the contents from top to bottom so that the provincial level can implement them more feasibly.

Accordingly, National Assembly delegate Vo Thi Minh Sinh proposed to amend the Charter in Decision No. 16/2003/QD/TTg, dated January 22, 2003 of the Prime Minister, adding the Fatherland Front to the Representative Boards at all levels, adding the Social Policy Bank to the Provincial Fund for the Poor Mobilization Board, because these two components support each other in social policy credit activities, especially when the Social Policy Bank participates in the Fund for the Poor Mobilization Board, there will be a resource to support housing construction, support livelihood models and to monitor between the Fatherland Front and political and social organizations through this source. And to do this better, it is recommended that the Central Committee of the Vietnam Fatherland Front and the Vietnam Bank for Social Policies coordinate to amend Decision No. 1198/QD-MTTW-DCT dated December 29, 2016 related to the Fund for the Poor. Regarding the content related to the source of loans to build houses for poor households, the delegate suggested that the Social Policy Bank should coordinate with the Provincial Party Committee's Steering Committee 1838 to link the two sources together for more effective implementation. At the same time, it was suggested to supplement the social policy credit activities with the establishment of a reserve fund for unemployment benefits, because this is one of the 7 types of funds allowed to be established according to the Charter.

Head of the National Assembly Delegation of Nghe An Province Thai Thanh Quy delivered a concluding speech at the working session. Photo: Phan Hau

Concluding the working session, Head of the National Assembly Delegation of Nghe An Province Thai Thanh Quy, on behalf of the National Assembly Delegation, respectfully thanked the Vietnam Bank for Social Policies for their attention, support and valuable assistance over the past time, affirming that after more than 20 years of establishment and development, the Vietnam Bank for Social Policies has continuously grown and strengthened, affirming its role as one of the economic levers of the State to implement poverty reduction and social security policies; helping poor households, near-poor households and other policy beneficiaries access policy credit capital to develop production, create jobs, increase income, and escape poverty; gradually participate effectively in the construction and completion of poverty reduction and social security credit policies, not leaving the poor and vulnerable behind.

He also informed about some situations, characteristics, and specificities of cultural, social, security, and defense life; and the directions for implementing social policy credit activities in the province in recent times. At the same time, he expressed his wish to continue receiving attention, support, and more favorable conditions from the Vietnam Bank for Social Policies, prioritizing capital sources for policy credit programs to help the poor and policy beneficiaries of Nghe An province have capital to invest in production, create stable jobs, increase income, improve life, and escape poverty; at the same time, help the locality successfully implement the goals of rapid and sustainable poverty reduction.

National Assembly delegates from Nghe An and leaders of the Vietnam Bank for Social Policies take a souvenir photo. Photo: Phan Hau

The Head of the Provincial National Assembly Delegation affirmed that, on the province's side, it will continue to pay attention to better implementing Directive No. 40-CT/TW, Conclusion No. 06-KL/TW of the Secretariat, and the Central Government's directive documents on developing and implementing social policy credit; annually prioritize balancing and allocating capital from the local budget to the Social Policy Bank to supplement capital for lending to poor households and other policy beneficiaries; direct the People's Committees of districts, cities, and towns to arrange budget sources transferred to the Social Policy Bank at the same level to implement policy credit in the area.

On this occasion, the Vietnam Bank for Social Policies presented Nghe An province with 1 billion VND to support the program of building houses for the poor./.