The Bank for Social Policies (VBSP) in Khanh Hoa Province has just decided to assign the credit plan target for 2022 to transaction offices of districts, towns and cities in order to promptly allocate and provide capital to support households to develop economy.
The Bank for Social Policies (VBSP) in Khanh Hoa Province has just decided to assign the credit plan target for 2022 to transaction offices of districts, towns and cities in order to promptly allocate and provide capital to support households to develop economy.
On the 7th of every month, the provincial VBSP organizes a periodical transaction session in Vinh Thanh commune (Nha Trang city). At the April trading session, right from the morning, many households with loans disbursed this time were present. After 2 loans (20 million dong and 50 million dong), paying interest and principal on time, Nguyen Thi Hoa (group 1, Phu Vinh, Vinh Thanh) was asked by the trustee unit and the commune People's Committee to lend 100 million VND under the loan program for poor households. Hoa shared: “My family has a beverage shop near two schools. Due to the Covid-19 epidemic, sales have been greatly affected. This time, I have been given loan from the bank to maintain and expand our shop, creating more favorable conditions for business.”
Cao Thi Hang (Lo Gia village, Suoi Tien commune, Dien Khanh district) has just been disbursed by the VBSP for a loan of 100 million VND under the loan program for near-poor households to buy 2 reproductive cows and fertilizers for mango and pomelo orchards.
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It is known that from the beginning of the year until now, the provincial Bank for Social Policy has provided loans timely and completed the assigned targets of months and quarters. According to the bank's report, lending in the first quarter of 2022 reached VND 316.3 billion with 9,736 loans. As of March 31, the total outstanding loans of policy credit programs were nearly VND 3,412, with 127,139 borrowers. The growth of outstanding loans mainly focused on lending programs of clean water and sanitation in rural areas, poor households, and near-poor households. A number of programs have reduced outstanding loans such as loans to business households in difficult areas, students and households just getting out of poverty. Overdue debt was more than 10.5 billion VND, accounting for 0.31%/total outstanding loans, an increase of more than 780 million VND compared to the beginning of the year.
According to Le Van Thanh, Head of the Department of Planning and Credit of the provincial Bank for Social Policy, in order to promptly meet the borrowing needs of poor households, near-poor households and other policy beneficiaries, right from the first months of the year, the General Director of VBSP assigned the credit target for 2022 to the provincial branch of VBSP with the amount of 115 billion VND. Then, the provincial VBSP assigned targets and programs to transaction offices of districts, towns and cities; coordinated with local authorities, entrusted socio-political organizations to guide customers to make dossiers and organize immediate disbursement for customers to have capital for production and business, increase income and stabilize life after the pandemic.
According to the plan, the outstanding balance of the central capital source of 115 billion VND will be allocated as follows: 20 billion VND for the loan program for poor households, 25 billion VND for near-poor households, 60 billion VND for clean water and rural environmental sanitation, 10 billion VND for support to create jobs, maintain and expand jobs. The capital mobilization target is 50 billion VND; in which, deposits from organizations and individuals are VND 30 billion, deposits from savings groups and loans are VND 20 billion. Up to now, the provincial VBSP has disbursed the loan program for poor and near-poor households with more than 20.1 billion VND, the completion rate is 44.7%; clean water and sanitation in rural areas is more than 26.8 billion VND, completion rate is 44.8%. For the target of mobilizing deposits from organizations and individuals, 28.6 billion VND has been achieved, the completion rate is 95.5%... The provincial VBSP strives to complete the assigned targets by April 30.
Mai Hoang
Translated by T.T
