Increase lending to poverty reduction support programs

Deputy Prime Minister Vuong Dinh Hue directed the Vietnam Bank for Social Policies to increase lending to programs on job creation, labor export, lending to the poor, lending according to projects... to have a spillover effect on the economy, create jobs, and develop the local economy.

According to the direction of Deputy Prime Minister Vuong Dinh Hue in Notice No. 160/TB-VPCP, in order for social policy credit to continue to be an important solution in implementing the tasks of sustainable poverty reduction, new rural construction and ensuring social security of the Party and State, in the coming time, the Board of Directors of the Social Policy Bank must study and ensure the harmony of State factors and market factors (in which the State factor plays a leading role) to increase proactiveness, creativity, decentralization and delegation of authority in mobilizing social resources and State budget resources for the activities of the Social Policy Bank.

Cassava is a tree that helps eliminate hunger and reduce poverty in Thanh Chuong. Illustrative photo.

The Social Policy Bank studies and reviews existing credit mechanisms and policies with shortcomings to amend and supplement them, ensuring they are consistent with reality (especially policies for ethnic minority households), focusing on key areas, focusing on specific areas (districts, communes), closely following reality, and linking with the New Rural Development Program. Research focuses on and increases lending to programs on job creation, labor export, lending to poor households, lending according to projects, and strengthens linkages through farm models, cooperatives, and household groups to have a spillover effect on the economy, create jobs, and develop the local economy.

Along with that, local authorities at all levels must also increase the allocation of resources from local budgets and other legal capital sources entrusted to the Social Policy Bank to supplement loan capital for poor households and other policy beneficiaries in the area; support facilities, locations, equipment, and working means to improve the operational capacity of the Social Policy Bank.

Provinces and cities that issue their own poverty standards need to allocate appropriate resources to implement them in accordance with the spirit of Directive 40-CT/TW of the Party Central Committee Secretariat; regularly direct the investigation, review, and statistical confirmation of poor households, near-poor households, and other policy beneficiaries to create favorable conditions for these beneficiaries to soon borrow capital from the Social Policy Bank.

Over the years, the Social Policy Bank has been a bright spot in implementing poverty reduction policies and other social policies, not only contributing to the implementation of socio-economic development tasks but also helping to stabilize politics, ensure social security, especially in rural areas, remote areas, ethnic minority areas...

According to Chinhphu.vn