Total outstanding debt of policy credit programs reaches nearly 143,000 billion VND

(Baonghean.vn) - Assessing the performance in 2015, the entire system of the Vietnam Bank for Social Policies (VBSP) has actively and promptly transferred preferential capital from the Government to poor households and other policy beneficiaries with a total source of over VND147,000 billion. The total outstanding debt of policy credit programs reached nearly VND143,000 billion, an increase of more than VND13,000 billion compared to 2014.

Farmers in Huong Son and Tan Ky borrow capital from the Policy Bank to effectively raise cows. Photo: NHCS Nghe An.

Of which, outstanding loans of credit programs according to the growth target assigned by the Prime Minister reached nearly 129,000 billion VND, an increase of nearly 12,000 billion VND (+9.9%) compared to 2014, completing 99.4% of the plan assigned by the Prime Minister.

Some credit programs have high outstanding growth compared to 2014 such as: loans for near-poor households (+10,340 billion), loans for clean water and rural environmental sanitation (+4,710 billion), loans for newly escaped poverty households (+3,504 billion) and loans for production and business households in difficult areas (+1,522 billion);

Regarding credit quality, in 2015, the VBSP implemented many synchronous solutions to consolidate and improve credit quality. Of the total outstanding debt of more than VND 143,000 billion, overdue debt and frozen debt nationwide was VND 1,107 billion, accounting for only 0.78% of the total outstanding debt, a decrease of VND 32 billion compared to 2014.

In 2015, nearly 2.4 million poor households, near-poor households, newly escaped poverty households and other policy beneficiaries received loans from the Vietnam Bank for Social Policies. Policy credit capital has contributed to helping over 400,000 households overcome the poverty line; attracting and creating jobs for over 180,000 workers from the job creation loan program, over 2,400 workers working abroad for a limited period; helping over 102,000 students in difficult circumstances borrow loans (for the first time) to study during the year; building nearly 1.36 million clean water and sanitation facilities in rural areas; over 5,300 houses to prevent storms and floods for poor households in the Central provinces and nearly 2,500 houses in flooded areas of the Mekong Delta...

PV