Lending to recover production after storm

In the first months of 2018, the Bank for Social Policies in Khanh Hoa Province reserved capital to lend for damage repair and reproduction after the storm Damrey in end 2017, especially in places suffering severe damages.

Van Ninh is the district damaged severely by the storm Damrey, mainly in aquaculture. Therefore, after the storm, local people need capital to recover production. However, a lot of properties were damaged, many people had no securities to borrow capital from commercial bank. Therefore, policy credit has partly supported them in overcome difficulties. From the capital supported by the Central in the first phase, VND31.5 billion was distributed to Van Ninh District to support production restoration after the storm.

At transaction office at Bank for Social Policies in Cam Lam District — Transaction office at Bank for Social Policies in Van Ninh District disbursing loans for people in Van Thang Commune, Van Ninh District.

According to the representative of the transaction office of the Bank for Social Policies, 20% of the VND31.5 billion was lent to recover production damaged by the storm. However, the figure is far less than the demand. Besides, the bank also checked and had solutions to some debts of damaged households…

In the first quarter of 2018, the local State budget transferred VND15.7 the Bank for Social Policies in Khanh Hoa Province to lend to create jobs; the Central transferred VND221.8 billion to the Bank for Social Policies in the province to give loans for re-production to repair damage caused by the storm Damrey, and increase loans for poor households, near poor households and just escaped households.

Nam Du

Translated by T.T

T.T