Nearly 70,000 policy beneficiaries in Nghe An borrow capital to develop production
On the afternoon of January 20, the Board of Directors of the Provincial Social Policy Bank held a conference to review activities in 2024 and deploy tasks for 2025.
Comrade Bui Thanh An - Member of the Provincial Party Standing Committee, Vice Chairman of the Provincial People's Committee, Head of the Representative Board of the Provincial Social Policy Bank chaired the meeting. Attending were members of the Representative Board of the Provincial Social Policy Bank, relevant organizations and unions.
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In 2024, policy credit activities continue to receive attention from the Party, State, Government and local authorities at all levels to allocate resources to implement national target programs, ensure social security and economic development. Following the direction of the Vietnam Bank for Social Policies, the Provincial Party Committee, the Provincial People's Committee, and the Board of Directors have led and directed the Nghe An Provincial Bank for Social Policies to successfully complete the goals and tasks set out in 2024.
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By December 31, 2024, the total capital reached VND 13,685 billion, an increase of VND 1,024 billion compared to the beginning of the year, achieving a growth rate of 8.09%. The capital entrusted to the locality was VND 481.5 billion, an increase of VND 130.2 billion compared to the beginning of the year, with a growth rate of 37% (achieving the target of annual growth of local budget capital according to Decision No. 05 of the Prime Minister), accounting for 3.5% of the total capital.
Loan turnover reached VND 4,273 billion, an increase of VND 374 billion over the same period last year, an increase of 9.6%. By December 31, 2024, the total outstanding debt reached VND 13,672 billion/22 policy credit programs, an increase of VND 1,022 billion compared to the beginning of the year, achieving a growth rate of 8.08%. There were 9/22 credit programs with outstanding debt growth compared to the beginning of the year; 13 programs with outstanding debt reduction.
Being in the top priority industry group for the national digital transformation strategy, the Bank for Social Policies, Nghe An branch, has implemented the digital transformation strategy and achieved important results.
Speaking at the conference, members of the representative board highly appreciated the results of policy credit activities in the area, and at the same time, noted a number of issues regarding inspection and supervision to avoid overlap; interest rates for some programs to avoid being higher than commercial banks, continuing to implement the model of savings and loan groups associated with community activities...
In 2025, the Policy Bank sets a target of increasing capital and outstanding loans by 8% (expected to increase by about 1,100 billion VND). Receive entrusted capital from the local budget of at least 170 billion VND, ensuring 100% completion of the plan; Control credit quality well; Complete the inspection and supervision plan on all channels and levels to ensure quality; Maintain the quality of operations of the Savings and Loan Groups; Continue to deploy the Savings and Loan Group model in a sustainable manner, associated with community activities in the province, completing the target of 20% of the groups by the end of 2025 as planned...
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Speaking at the conference, Vice Chairman of the Provincial People's Committee Bui Thanh An acknowledged and highly appreciated the achievements of policy credit in recent times.
In 2024, Nghe An Social Policy Bank provided preferential credit capital to 69,188 poor households and other policy beneficiaries to borrow capital to develop production, business, export labor, repair, renovate, build new, buy social housing, build clean water works, sanitation works to improve the quality of life... With those results, social policy credit continues to make important contributions to the completion of the province's socio-economic development targets in 2024. Nghe An Provincial Social Policy Bank Branch was ranked as the Best in the region in 2024 by the Emulation and Reward Council of the Social Policy Bank.
Regarding the implementation of tasks in 2025, the Vice Chairman of the Provincial People's Committee proposed: The Provincial and District Board of Directors' Representative Boards continue tocDirect the implementation of credit plans for programs assigned for growth from the beginning of the year, focusing on new policy credit programs issued by the Government and the Prime Minister. Review and approve capital allocation plans for credit programs for localities in a timely manner, ensuring quick disbursement of capital sources.
The District Board of Directors' Representative Board advises and submits to the District People's Committee for timely approval of the list of poor households, near-poor households, and newly escaped-poverty households in 2025 to serve as a basis for disbursing capital sources to meet the needs of the people. Continue to strengthen the political and social system, create solidarity in villages and hamlets through the Savings and Loan Group model associated with community activities in the area.
Step up capital mobilization to proactively use capital sources to meet the loan needs of poor households, near-poor households and other policy beneficiaries in 2025, striving to basically complete the target of increasing outstanding loans of policy credit programs before September 30, 2025.
The provincial association organizes research and coordinates with relevant agencies to build economic development models with high specialization and economic efficiency, on that basis, the Bank for Social Policies will invest policy credit capital to help poor households, near-poor households, newly escaped poverty households and other policy subjects escape poverty sustainably...
