Concentrate capital resources to meet the borrowing needs of policy subjects

Comrade Le Xuan Dai - Member of the Provincial Party Committee, Permanent Vice Chairman of the Provincial People's Committee, Head of the Board of Directors' Representative Board chaired the meeting. Photo: Viet Phuong

At the beginning of this year, the Nghe An branch of the Vietnam Bank for Social Policies actively took advantage of capital provided by the Central Government; continued to promote capital mobilization locally, basically meeting the demand for loans to develop production and business and serve the essential needs of poor households and other policy beneficiaries in the area.

The total capital managed by the Provincial Social Policy Bank as of March 31, 2018 reached VND7,497 billion, an increase of VND285 billion compared to 2017. The first quarter loan turnover reached VND739 billion, in March alone the loan turnover reached VND610 billion, the highest ever. Some credit programs with large loan turnover are: loans for near-poor households VND264 billion, poor households VND127 billion, newly escaped poverty households VND110 billion; production and business households in difficult areas VND88 billion; clean water and environmental sanitation in rural areas VND82 billion; housing for poor households VND14.5 billion.

Total outstanding debt reached VND 7,485 billion, an increase of VND 285.4 billion, an increase of 33.36% compared to the first quarter of 2017.

Comrade Tran Khac Hung - Director of the Provincial Social Policy Bank reported on the assessment of the first quarter results and deployed tasks for the second quarter. Photo: Viet Phuong

Currently, the Bank for Social Policies is coordinating with the Department of Construction to continue to effectively implement the housing support loan program for poor households in phase 2 according to Decision No. 33/2015/QD-TTg with disbursement turnover in the first quarter reaching 14 billion 475 million VND/579 poor households receiving loans to build new or repair and renovate houses; coordinating with the Provincial Ethnic Committee to deploy loans for socio-economic development in ethnic minority and mountainous areas according to Decision No. 2085/QD-TTg dated October 31, 2016 of the Prime Minister for the period 2017 - 2020, disbursement turnover in the quarter reached 2,628 million VND/86 households receiving loans.

However, overdue debt still increased by 674 million VND compared to the beginning of the year (all 4 organizations had overdue debt increase).

Dien Chau Social Policy Bank transaction office disburses program capital to customers. Photo: Viet Phuong

After listening to the opinions of the members of the representative board, concluding the meeting, Standing Vice Chairman of the Provincial People's Committee Le Xuan Dai acknowledged the efforts of the Board of Directors' representative board, which showed results in many aspects, especially in the work of mobilizing, lending, and creating capital sources to meet the needs of poor households and policy beneficiaries. In the coming time, continue to submit to the Central Government to supplement capital sources for loans for programs that have completed the plan targets in the first quarter; focus on receiving capital from local budgets at all levels; actively mobilize capital sources from organizations and individuals according to market interest rates to complete the central plan targets.

Organize the implementation of the social housing loan program according to Decree 100 of the Government, with the initial assigned capital target of 10 billion VND.

Thanks to a policy bank loan, Ms. Nguyen Thi Hanh in Hamlet 1, Hung My, Hung Nguyen invested in a clean and hygienic water project. Photo: Thu Huyen