136 commune-level transaction points under the Bank for Social Policies (VBSP) in Khanh Hoa Province have returned to normal operations in an effort to fulfill the dual task of strengthening epidemic prevention and doing disbursements timely and safely to help the poor reproduce after the period of social distancing.
136 commune-level transaction points under the Bank for Social Policies (VBSP) in Khanh Hoa Province have returned to normal operations in an effort to fulfill the dual task of strengthening epidemic prevention and doing disbursements timely and safely to help the poor reproduce after the period of social distancing.
2 years ago, Nguyen Thi Nghiem (hamlet 1, Ninh Thuong commune, Ninh Hoa town) received a loan of 50 million VND from the lending program for near-poor households to raise breeding cows. This year, she wants to borrow more capital to increase the number of cows. At the beginning of October, she was disbursed 100 million VND under the loan program for households getting out of poverty and she plans to use this capital to buy 5 more breeding cows. According to Lai Quyet Thang - Director of the Transaction Office of VBSP in Ninh Hoa town, over the past 2 months, the Covid-19 epidemic has affected the bank's lending activities. Therefore, after the social distance ended, at the end of September and in October, the transaction office increased transaction sessions in communes and wards to promptly provide capital for poor households to produce. In October alone, the transaction office disbursed more than 5.2 billion VND to households. The transaction office also adjusted the repayment term and extended debts for 990 borrowers affected by the Covid-19 epidemic with an adjusted debt balance of 14 billion VND.
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To maintain the farming of 30 lobster cages during the social distancing period, Truong Thai Binh (in Cam Thuan ward, Cam Ranh city) has to buy animal feed on credit. When getting a loan of 50 million VND from the preferential policy for near-poor households, Binh paid the debt and bought some tools to make cages. According to the data of the Transaction Office of VBSP in Cam Ranh, in October, the unit disbursed more than 1.4 billion VND to 28 poor households; total outstanding loans of this group by the end of October was 157 billion VND with 3,170 borrowers.
According to Ho Dac Thich - Director of VBSP Khanh Hoa, after the Covid-19 epidemic was under control, the branch quickly disbursed policy capital to people in need of capital to restore production and business, in which there are people in the poor group. In order to remove difficulties for loan customers affected by the Covid-19 epidemic, VBSP has also actively cooperated with local authorities and socio-political organizations to receive loan entrustment in each locality to capture the level of influence and damage of borrowers in order to implement timely support solutions such as debt extension, repayment term adjustment, additional lending, and risky debts handling. Currently, VBSP is also focusing on coordinating with other departments and sectors to actively participate in the review of poor and near-poor households in localities to have a capital plan for the period of 2022 - 2025, ensuring timely funding policy for objects. VBSP directs district-level transaction offices and transaction points to continue to implement appropriate measures to prevent and control the epidemic and requesting customers to comply with the 5K regulations of the Ministry of Health when coming to banks.
According to a report of VBSP Khanh Hoa, in October, the branch disbursed the loan program for the poor, near-poor and escaped poverty with nearly 18.6 billion VND. In the first 10 months of 2021, nearly 307.2 billion VND has been disbursed.
Mai Hoang
Translated by T.T
