Nghe An focuses on lending for economic and social recovery and development according to Resolution 11

Overview of the meeting. Photo: Thu Huyen

Loan disbursement progress reached over 78%

Reporting at the meeting, comrade Tran Khac Hung - Director of the Provincial Social Policy Bank said, implementingResolution No. 11, the branch coordinates with relevant agencies to synthesize the capital needs of policy credit programs for the period 2022-2023 in the area. Based on synthesis and review, the total demand of 5 credit programs is 2,177 billion VND, of which: 1,069 billion VND in 2022, 1,108 billion VND in 2023.

By June 30, 2022, the branch had been allocated capital in 2 phases by the Vietnam Bank for Social Policies with a total target of 5 credit programs of 469 billion VND. Immediately after receiving the capital allocation decision from the General Director, the branch advised the Board of Directors to assign to districts, towns and cities for implementation.

Director of Nghe An Social Policy Bank Tran Khac Hung reports on the implementation of lending under Resolution 11. Photo: Thu Huyen

As of June 30, 2022, the total number of applications received by the provincial branch is 9,145/estimated loan amount is 266.9 billion VND, including: Loans for job creation: 130 billion VND/2,324 applications; Loans for social housing: 66.5 billion VND/172 applications; Loans for students to buy computers: 65.93 billion VND/6,593 applications; Loans for preschools: 4.54 billion VND/56 applications.

Since the end of April, the branch has disbursed capital (4/5 authorized credit programs) to 8,913 customers, amounting to over VND 250.2 billion, completing 78.4% (not including VND 150 billion in loans for ethnic minorities and mountainous areas).

Representative of the Department of Finance leadership speaking. Photo: Thu Huyen

In addition, the branch also provides interest rate support for loans at the Social Policy Bank according to Decree No. 36/2022/ND-CP. According to the results of the synthesis of the interest rate support plan from district-level transaction offices: The average outstanding balance with interest rate support in 2022 is 1,665 billion VND, the demand for interest rate support in 2022 is 33.4 billion VND.

Representatives of the Provincial Veterans Association discussed some difficulties in implementing production support loans according to Resolution 11. Photo: Thu Huyen

Continue to remove difficulties, provide timely loans to the right beneficiaries

At the meeting, in addition to acknowledging and appreciating the results achieved in the implementationLoan program for economic and social recovery and development, the delegates also raised some difficulties and problems in the implementation process. That is, the capital source for the job creation program allocated by the Central Government to the branch is still modest compared to the actual needs in the area, currently only reaching 130/730 billion VND of the demand (equal to 17.8%), not meeting the actual loan demand to create jobs and income for workers.

Regarding the lending program for ethnic minority and mountainous areas, some opinions said that, up to now, the Central Government has not issued a document guiding lending, and localities have not announced the results of approving the list of beneficiaries of sub-projects related to loans from the Bank for Social Policies under the National Target Program for Socio-Economic Development in Ethnic Minority and Mountainous Areas, therefore, the process of coordinating review and determining capital needs has encountered many difficulties, completing the disbursement plan of 150 billion VND of capital from this program in 2022 is really a challenge for the branch.

Comrade Nguyen Duc Hai - Deputy General Director of Vietnam Bank for Social Policies gave a speech at the meeting. Photo: Thu Huyen

Some opinions also said that the implementation of loan programs is difficult due to procedures, required invoices and documents, and high material prices, leading to difficulties in implementing loans for social housing construction...

After listening to the opinions of the delegates, Deputy General Director of the Vietnam Bank for Social Policies Nguyen Duc Hai acknowledged and highly appreciated the efforts of the Board of Directors, departments, branches, political and social organizations in lending for socio-economic recovery according to Resolution 11. Nghe An has closely followed the Central's instructions, assigned tasks for close implementation, so it has achieved good results, ensuring the Central's requirements, reaching over 78% of the planned target.

The loan target according to the Resolution is quite broad, to increase the effectiveness of the program's benefits, as well as to avoid policy exploitation, the Deputy General Director suggested continuing to proactively coordinate with entrusted organizations to accelerate the disbursement of loans for credit programs quickly, neatly, promptly, and to the right beneficiaries. Continue to review and determine capital needs for programs that have fully disbursed their targets and submit to superiors for additional capital sources, in order to meet actual needs.

Yen Thanh District Social Policy Bank transaction office signed a credit contract to support businesses in borrowing capital to restore production due to the epidemic in 2021. Photo: Thu Huyen

The Deputy General Director of the Vietnam Bank for Social Policies also answered some concerns of departments, branches, organizations, associations and unions related to professional matters in the process of implementing the lending program under Resolution 11. The working group will synthesize and report some other related recommendations and proposals to relevant ministries and branches for timely handling.

At the meeting, comrade Nguyen Duc Hai also discussed and noted some important contents related to the summary of 20 years of implementation.preferential credit policy for poor householdsand other policy subjects according to Decree 78/2002/ND-CP dated October 4, 2002 of the Government in Nghe An in the coming time.