Nghe An: Concentrating resources to meet loan needs for policy beneficiaries

On the morning of April 15, under the chairmanship of comrade Le Hong Vinh - Member of the Provincial Party Committee, Permanent Vice Chairman of the Provincial People's Committee, Head of the Board of Directors of the Vietnam Bank for Social Policies (VBSP), the Board of Directors of the Vietnam Bank for Social Policies, Nghe An branch held the 67th regular meeting. Attending were leaders of the Vietnam Bank for Social Policies, representatives of entrusted socio-political organizations. Photo: Thu Huyen

According to the report of the Board of Directors of the Vietnam Bank for Social Policies, as of March 31, 2021, total capital reached VND 9,169 billion, an increase of VND 143 billion compared to 2020, achieving a growth rate of 1.58%.

Loan turnover in the first quarter reached VND700.3 billion, down 3.4% compared to the same period last year. In the quarter, 13 programs were disbursed, 7 programs were not disbursed due to the expiration of the program implementation period. Debt collection turnover reached VND563 billion, accounting for 80.3% of loan turnover, contributing significantly to creating a stable and proactive revolving loan source in the locality, meeting the loan needs of poor households and policy beneficiaries.

Graphics: Lam Tung

As of March 31, 2021, total outstanding debt reached VND 9,143.6 billion/20 programspolicy credit, increased by 135.2 billion VND compared to the beginning of the year, achieving a growth rate of 1.5%.

Of the 20 programs under management, 9/20 have increased outstanding loans compared to the beginning of the year, some programs have increased significantly such as: Loans for near-poor households (increased by 102 billion VND), clean water and rural environmental sanitation (increased by 42.6 billion VND), loans for production and business households in difficult areas (increased by 32 billion VND), and loans for job creation (increased by 25 billion VND). 11/20 programs have decreased outstanding loans compared to the beginning of the year.

Director of the Provincial Social Policy Bank Tran Khac Hung reports on activities in the first quarter of 2021. Photo: Thu Huyen

The branch continues to disburse capital to support businesses in the area.unemployed workersdue to the impact of the Covid-19 epidemic, ensuring timely payment before the program ends on January 31, 2021. Thus, the whole province has 10 enterprises borrowing capital with an amount of 1 billion 72 million VND and 243 workers are supported with salary payment for work suspension due to the impact of the Covid-19 epidemic.

In the first quarter, the branch continued to implement many solutions to handle and collect due and overdue debts. Thanks to that, credit quality was continuously improved, overdue debts and debt forgiveness decreased compared to the beginning of the year.

Standing Vice Chairman of the Provincial People's Committee Le Hong Vinh delivered a concluding speech at the meeting. Photo: Thu Huyen

Speaking at the meeting, Standing Vice Chairman of the Provincial People's Committee Le Hong Vinh said that in the first quarter of 2021, although the socio-economic situation still faced many difficulties, due to the complicated developments of the Covid-19 pandemic, the entrusted organizations and branches of the Bank for Social Policies at the provincial and district levels focused on implementing the assigned tasks safely and achieved good results, many targets were completed and exceeded the set targets for the quarter and the whole year.

In directing the tasks in the coming time, the Standing Vice Chairman of the Provincial People's Committee requested the Provincial and District Board of Directors to continue to urge the effective implementation of the contents of Directive No. 29-CT/TU of the Provincial Party Committee and Plan No. 463/UBND-KH of the Provincial People's Committee. Pay attention to maximizing the capital channels from the Central to the local level; direct units that have not completed the target of receiving entrusted capital to continue advising the Party Committee and the government to transfer capital according to the target assigned by the Provincial People's Committee.

Staff of the Social Policy Bank inspect the loan model for economic development of Mr. Chu Quoc Tru's family farm in My Dinh hamlet, Chau Dinh commune (Quy Hop). Photo: Thu Huyen

ForVietnam Bank for Social Policiesprovincial and district levelsIt is necessary to increase capital mobilization in the area, actively take advantage of capital from the Central Government and do a good job of debt collection to maximize resources to meet the loan needs of poor households and other policy beneficiaries. Continue to coordinate with members of the Department of Labor, War Invalids and Social Affairs to advise the Provincial People's Committee to soon approve the transfer of 50% of the deposit amount at the Social Policy Bank of Korean workers who violated the law and were recovered into the provincial budget to entrust the Social Policy Bank for lending.

For socio-political organizations receiving entrustment, step up propaganda, guide borrowers to use capital effectively, integrate with programs and projects, do a good job of consulting, guiding the construction and replication of typical production and business models, help each other to escape poverty sustainably...