Nghe An: Outstanding credit increased by more than 10%

As of September 30, 2022, the mobilized capital of the whole area reached 188,772 billion VND, an increase of 13,305 billion VND compared to the beginning of the year, equal to 7.6%, higher than the same period in 2021 (6.9%), higher than the national average (4.14%), compared to the previous month, a decrease of 427 billion VND, equal to -0.2%.

It is expected that by October 31, 2022, the total mobilized capital in the area will reach VND 190,659 billion, an increase of VND 15,193 billion compared to the beginning of the year, equal to 8.65%, higher than the same period in 2021 (7.4%).

By the end of October 2022, the total outstanding debt of credit institutions in the area is estimated at VND 267,372 billion, an increase of VND 24,758 billion compared to the beginning of the year, equal to 10.2%, higher than the same period in 2021 (3.6%).

Excluding the Development Bank, the total outstanding debt is estimated at VND 257,054 billion, an increase of VND 28,222 billion compared to the beginning of the year, equal to 12.33%, higher than the increase in the same period in 2021 (5.2%). Of which, medium and long-term outstanding debt (excluding the Development Bank) accounts for 42% of the total outstanding debt.

Con Cuong District Social Policy Bank disburses funds in Thach Ngan commune. Photo: Thu Huyen

Outstanding balance of some credit programs estimated as of date31/10/2022:

Outstanding loans for the agricultural and rural sectors and rural areas in the whole area are estimated at 106,025 billion VND, accounting for 40% of outstanding loans in the whole area.

Outstanding loans for high-tech agricultural development and clean agriculture under Resolution 30/NQ-CP are estimated at VND 18,985 billion, accounting for 7% of total outstanding loans in the whole area.

Outstanding export loans are estimated at VND2,980 billion, up 13.3% compared to the beginning of the year.

Outstanding loans to support housing under Resolution 02/NQ-CP dated January 7, 2013 of the Government are estimated at 150 billion VND.

Outstanding loans for shipbuilding under Decree 67/2014/ND-CP are estimated at 194 billion VND.

Thanks to the implementation of interest rate support programs, many businesses have been given preferential capital to invest in production and business, recovering from the pandemic. In the photo: production at Trong Phuc Garment Company Limited in Dien Chau district. Photo: Thu Huyen

Ms. Nguyen Thi Thu Thu - Director of the State Bank of Nghe An branch said: The State Bank of Nghe An branch directed the Provincial Social Policy Bank to continue to effectively implement preferential lending policies in the area, especially for lending to the Preferential Program using loan capital under Resolution 11/NQ-CP. For the lending program under Decree No. 28/2022/ND-CP dated April 26, 2022 on preferential credit policies to implement the National Target Program on socio-economic development in ethnic minority and mountainous areas for the period 2021-2030, the Nghe An Provincial Social Policy Bank Branch has been allocated 150 billion VND by the Social Policy Bank and has been allocated by the Head of the Provincial Policy Bank Representative Board to the district-level social policy bank transaction offices, but has not been able to lend because there is currently no list of beneficiaries of the support policy approved by the competent authority.

In addition, the bank also continues to organize solutions to implement the tasks of socio-economic development of Nghe An province according to the Socio-economic Development Plan of Nghe An Provincial People's Committee; continue to implement support loans for rural agriculture, loans to encourage the development of high-tech agriculture, clean agriculture and credit programs under the direction of the Government and the Prime Minister; provide loans for major projects of the province; support debt collection for loans for aquaculture development according to Decree 67/2014/ND-CP...

Thu Huyen