Policy capital in Nghe An grows strongly

Capital growth reached 11.3%

Overview of the meeting of the Board of Directors of the Provincial Social Policy Bank on the morning of October 20. Photo: Thu Huyen

In the first 9 months of the year, closely following the Resolution of the Board of Directors and the regular Resolution of the Board, the Board of Directors' Representative Board at the provincial and district levels directed the Social Policy Bank Branches and the entrusted socio-political organizations to effectively implement key tasks.

By September 30, 2022, total capital increased by 3.7% over the same period last year and completed the capital growth target for 2022 according to the Resolution of the Provincial Board of Directors.

Graphics: Huu Quan

Loan turnover in the first 9 months of the year reached VND 2,435 billion, of which 15/22 programs are being disbursed. The unit has actively disbursed capital for programs under the socio-economic recovery and development support package according to Resolution No. 11/NQ-CP dated November 30, 2022 of the Government. Capital for 5 policy credit programs implemented according to Resolution No. 11 of the Government on lending for economic recovery and development reached VND 481.5 billion.

There are 7 programs that do not generate loans, which are programs that have expired. Most customers comply with the regulations on debt repayment and interest payment when due according to the agreement.

Director of the State Bank of Vietnam, Nghe An branch, Nguyen Thi Thu Thu, highly appreciated the capital growth target in 2022 of the provincial Social Policy Bank. Photo: Thu Huyen

In the first 9 months of 2022, policy credit capital provided preferential capital to 58,361 poor households and other policy beneficiaries. Social policy credit continues to make an important contribution to the achievement of the province's poverty reduction goals, ensuring social security and building new rural areas in 2022.

However, the circulation of storm No. 4 caused heavy rain, flooding, flash floods, landslides in the districts, causing heavy damage to people and property, making life difficult for people in the disaster-affected areas, affecting debt collection, interest collection and transaction activities in communes in the districts affected by the disaster. The disbursement of VND 150 billion according to Resolution 28 is slow, and solutions are needed to speed up...

Deputy Director of the Department of Planning and Investment Nguyen Van Truong spoke at the meeting. Photo: Thu Huyen

Focus on allocating budget trust funds in 2023

Speaking at the conference, Standing Vice Chairman of the Provincial People's Committee Le Hong Vinh acknowledged the results achieved in the first 9 months of the year. Especially in the third quarter, the whole province successfully organized the Conference to summarize 20 years of implementing Decree No. 78 of the Government on credit for the poor and other policy beneficiaries from district to provincial levels.

Regarding tasks and solutions from now until the end of the year, the Standing Vice Chairman of the Provincial People's Committee requested members of the Department of Finance and the Provincial Bank for Social Policies to advise the Provincial People's Committee on arranging the budget trust capital source for 2023 and direct the District People's Committees to implement the assigned local budget trust source targets.

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

Regarding the capital source of 150 billion VND according to Decree No. 28/2022/ND-CP dated April 26, 2022 of the Government, the Head of the Board of Directors of the Provincial Social Policy Bank requested the Provincial Ethnic Committee to advise the Provincial People's Committee to direct the People's Committees of districts to promptly review and approve the list of beneficiaries of policy credit as a basis for disbursing capital, promptly supporting capital needs for production and stabilizing the lives of policy beneficiaries.

Comrade Le Hong Vinh also requested that it is necessary to promptly notify the allocation of additional capital in 2022 to districts, cities and towns (190 billion VND) to quickly disburse capital for programs, striving to complete the disbursement work before November 30, 2022.

The district-level representative board needs to organize and effectively implement preferential credit policies in the area. In particular, the member of the district-level representative board who is the Chairman of the People's Committee at the commune level needs to fully perform his/her role and responsibility in implementing, managing and supervising policy credit capital in the area, ensuring that loans are given to the right subjects, capital is used for the right purposes, and efficiency is promoted; inspecting and supervising the implementation of preferential credit programs according to Resolution No. 11 and the 2% interest rate support package, avoiding policy exploitation.

The provincial and district-level Social Policy Banks continue to coordinate with relevant agencies, units and organizations to advise local Party committees and authorities to effectively implement policy credit programs; Focus on advising to increase capital sources entrusted from local budgets to achieve the goal of rapid and sustainable poverty reduction and ensure social security in the area.

Thanks to loans from the Policy Bank, some households in Nam Dan district have more favorable conditions to develop their economy. Photo: Thu Huyen

The entrusted socio-political organizations continue to do a good job of propaganda and mobilization of people to actively participate in depositing savings into the provincial Social Policy Bank. Guide borrowers to complete their application documents in full and in accordance with regulations; prevent overlapping lending programs, loans exceeding the limit, households with many borrowers, etc.