Nghe An focuses on disbursing loan programs according to Resolution No. 11 of the Government

Motivation to help people restore production

Promoting the positive effects of low-interest loans from the socio-economic recovery and development program under Resolution 11 of the Government, many disadvantaged and poor households in Quynh Luu district have had the opportunity to invest in their children's education, develop suitable professions, and gradually escape poverty.

For example, Ms. Le Thi Nga in Phu Thanh village, Quynh Long commune, her husband is a fisherman, often away from home, she works as a hired worker and takes care of her children. The family has just rebuilt an old house, the loan for the house has not been paid off yet, fortunately she was able to borrow policy credit from Resolution 11 to buy computers for her children's education.

In Quy Hop district, poverty alleviation with preferential interest rate capital is no longer a strange thing. The model of escaping poverty and getting rich has appeared more and more thanks to loans from the Social Policy Bank. A typical example is the model of borrowing 100 million VND to create jobs for raising black apple snails and ornamental shrimp on a large scale of Mr. Vi Tuan Anh's family in Hoa Thanh hamlet, Chau Quang commune; or Ms. Quang Thi Thu Phuong's family in Con hamlet, Chau Quang commune borrowed 40 million VND from the housing loan program according to Decree 28/ND-CP of the Government and borrowed 50 million VND from the poor household capital to buy breeding buffaloes.

Ms. Phuong shared: "Thanks to preferential loans from the Social Policy Bank, my family has a warm home and capital to invest in production development. Having what we have today is truly a dream. We hope to continue to be given favorable conditions to borrow capital to raise livestock, stabilize our lives, and escape poverty."

Also in Chau Quang commune, the family of Mr. Vi Van Nguyen (Don Mong hamlet) is a typical example of effective use of loan capital. Mr. Nguyen borrowed 50 million VND from the near-poor household to buy breeding cows and borrowed 20 million VND from the Clean Water and Environmental Sanitation Program, enjoying a 2% interest rate reduction support policy for 2 years 2022-2023 under the Economic Recovery and Development Program after the Covid-19 pandemic according to Resolution 11/NQ-CP of the Government.

Mr. Nguyen Thanh Hai - Director of Quy Hop District Social Policy Bank said: As of November 20, 2023, the total credit capital in Quy Hop area reached 719 billion VND, an increase of more than 87 billion VND compared to the beginning of the year, a growth rate of 13.86%. Loan turnover in the year reached nearly 174 billion VND, debt collection turnover in the year reached more than 86 billion VND. Implementing loans for 17 policy credit programs with nearly 13,000 customers with outstanding debt, each customer has an average outstanding debt of nearly 55 million VND. Credit quality continues to be tightly controlled and stable.

“In order to effectively implement this program, the bank has proactively coordinated with socio-political organizations to strengthen propaganda and dissemination of documents and instructions of the Vietnam Bank for Social Policies so that people can clearly understand and participate in borrowing policy credit capital. By November 20, 2023, the Quy Hop Social Policy Bank Transaction Office had disbursed capital including 5 credit programs to 1,127 customers with an amount of VND 40,644 billion, completing 88.9% of the plan,” Mr. Hai added.

Focus on completing the credit plan

Deputy Prime Minister Le Minh Khai has just issued Document No. 9263/VPCP-KTTH dated November 24, 2023 on ending interest rate support for loans at the Vietnam Bank for Social Policies. Accordingly, the Government Office requested the Ministry of Finance, the Vietnam Bank for Social Policies, relevant agencies and local authorities at all levels to strengthen inspection and supervision of implementation to ensure that interest rate support is for the right purpose and to the right subjects according to the provisions of law, and promptly handle violations in implementing interest rate support settlement according to regulations.

Recently, Mr. Nguyen Duc Hai - Deputy General Director of the Vietnam Bank for Social Policies inspected the implementation of Resolution 11 of the Government on the Program for socio-economic recovery and development in Quy Hop district. Inspecting the models in Chau Quang commune, comrade Nguyen Duc Hai acknowledged the efforts of Quy Hop district in general and Chau Quang commune in particular in implementing Resolution 11 of the Government in the area. The Board of Directors, political and social organizations have closely followed the Central's instructions and been proactive in lending for socio-economic recovery, so they have achieved good results. The Deputy General Director of the Vietnam Bank for Social Policies requested the district to continue promoting propaganda and dissemination of lending policies so that those in need and eligible can access policy credit and use it for the right purposes, contributing to the effective implementation of social security policies of the Party and State.

In recent times, the Nghe An Provincial Social Policy Bank Branch has proactively followed the General Director's direction, taken advantage of the leadership and direction of the local Party Committee, government and the Board of Directors of the Provincial Social Policy Bank, proactively coordinated with entrusted organizations in the area to actively and promptly and effectively implement assigned tasks.

In particular, the focus is on rapidly increasing capital sources and outstanding loans, meeting the borrowing needs of the poor and policy beneficiaries, focusing on effectively implementing credit programs according to Resolution 11/NQ-CP of the Government. Implementing the direction of the General Director of the Vietnam Bank for Social Policies, the Branch has proactively advised the Provincial People's Committee to direct provincial departments, branches, sectors, People's Committees of districts, cities, towns and related units to closely coordinate with the provincial branch to actively propagate, review subjects, and determine the demand for policy credit capital according to Resolution 11 in the area. The total demand for 5 credit programs according to Resolution 11 in the period of 2022-2023 is 2,399.4 billion VND.

By November 21, 2023, outstanding loans of loan programs reached VND 929.02 billion/20,138 customers. Specifically: Loans to support job creation, maintenance and expansion: loan turnover reached VND 408.3 billion/6,908 customers borrowing capital; Outstanding loans to date are VND 408.3 billion/6,908 customers. Social housing loans according to Decree No. 100/2015/ND-CP: Loan turnover reached VND 344.3 billion/845 customers; outstanding loans reached VND 323.8 billion/805 customers, completing 91% of the assigned plan. Loans for students in difficult circumstances to buy computers and online learning equipment: Loan turnover reached VND 108.59 billion/10,859 customers borrowing capital; Outstanding loans reached 103.7 billion VND/10,682 students, completing 99.5% of the assigned plan. Loans to non-public preschool and primary schools: Loan turnover reached 5.716 billion VND/70 facilities; outstanding loans reached 4.412 billion VND/69 facilities; completing 100% of the assigned plan. Loans according to Decree No. 28/2022/ND-CP: Loan turnover reached 141.8 billion VND/2,813 loan customers; outstanding loans reached 138.5 billion VND/2,761 customers, completing 98.8% of the assigned plan.

Up to now, the Branch has been assigned by the Social Policy Bank a total target of 1,256.4 billion VND for 5 credit programs. Based on the assigned target, the district-level transaction offices have advised on allocation to the grassroots level, promptly disbursing to beneficiaries.

Mr. Hoang Son Lam - Deputy Director of the Provincial Social Policy Bank said: Resolution 11/NQ-CP dated January 30, 2022 on the Socio-Economic Recovery and Development Program is considered one of the solutions to overcome difficulties, create momentum and resilience for the economy, ensure social security, support people and businesses to overcome difficulties caused by the pandemic. From now until the end of 2023, we will focus on directing units to complete the assigned credit plan targets. In particular, focus on directing drastic disbursement for preferential credit programs according to Resolution No. 11/NQ-CP, striving to complete before December 20, 2023...