Create better conditions for poor households to borrow credit

(Baonghean.vn) - That is the request of the Prime Minister at the national online conference summarizing 15 years of implementing policy credit in the period 2002-2017.

On the afternoon of October 16, in Hanoi, under the chairmanship of Prime Minister Nguyen Xuan Phuc, the Government held a national online conference to summarize 15 years of implementing policy credit in the 2002-2017 period.

Comrades: Nguyen Van Thong - Deputy Secretary of the Provincial Party Committee; Le Xuan Dai - Member of the Provincial Party Committee Standing Committee, Permanent Vice Chairman of the Provincial People's Committee chaired at Nghe An bridge. Photo: TH

The Social Policy Bank was established under Decision 131/2002/QD-TTG dated October 4, 2002 of the Prime Minister. The Nghe An branch of the Social Policy Bank officially operated from April 9, 2003. To date, the total policy credit capital managed by the Nghe An Social Policy Bank has reached over 7,000 billion VND, 22.3 times higher than the first day of establishment.

Nghe An's total lending turnover reached 17,675 billion VND, with 1.3 million poor households and policy beneficiaries receiving loans, contributing to helping 160,000 households escape poverty. The Government's preferential credit programs implemented by the Vietnam Bank for Social Policies are truly an important capital channel, a "midwife" for poor households and policy beneficiaries. The organizational model and method of policy credit management are increasingly improved, suitable for practice and effective.

Panorama of the conference at Nghe An bridgehead. Photo: TH

In the coming time, the Bank for Social Policies aims to have poor, near-poor, newly escaped-poverty households and other policy beneficiaries with needs and conditions all be able to borrow capital from policy credit programs and access services provided by the Bank for Social Policies; average annual outstanding debt growth of about 10%; overdue debt ratio of less than 1% of total outstanding debt; annual additional local budget capital increases by an average of over 20%...

At the conference, delegates reported on the role of policy credit capital for students in difficult circumstances; credit policy contributes to the implementation of poverty reduction goals, socio-economic development in ethnic minority and mountainous areas; the role of social policy credit for the poor and policy subjects in the Northwest region...

Poor households in Nam Dan district borrow capital from policy banks to raise cows. Photo: TH

Besides affirming the effectiveness of credit capital for the poor and other policy subjects, delegates said that resources for implementing policy credit programs are still limited compared to actual needs; the state budget has not provided additional charter capital and capital for policy credit programs in a timely manner. Currently, there are a number of policy credit programs with long loan terms, but the corresponding resources have not been balanced; the quality of policy credit is not uniform in some regions, and the rate of overdue debt in some localities is still high...

Impressive numbers after 15 years of operation of Nghe An Social Policy Bank. Graphics: Huu Quan

In his concluding remarks at the conference, Prime Minister Nguyen Xuan Phuc requested that policy officials must be close to the people, grasp their aspirations and aspirations to promptly find solutions to meet their borrowing needs. Create conditions for poor households to access credit capital, borrow capital to escape poverty and build new rural areas.

To achieve the goal of sustainable poverty reduction, ministries and branches need to promptly adjust capital sources and subjects... to meet people's borrowing needs; effectively socialize policy capital sources...

On this occasion, the Prime Minister awarded the First Class Labor Medal to the Bank for Social Policies; presented Certificates of Merit to 20 collectives and 9 individuals with outstanding achievements. The People's Committee of Nghe An province was awarded a Certificate of Merit by the Prime Minister for its good implementation of policy credit in the area.

Tung Chi