Social policy credit activities in Khanh Hoa province have contributed to poverty reduction, job creation and social security for thousands of policy beneficiaries.
Social policy credit activities in Khanh Hoa province have contributed to poverty reduction, job creation and social security for thousands of policy beneficiaries.
Over the past 20 years, policy credit capital in Khanh Hoa province has grown continuously. As of August 31, total policy credit capital reached more than 3,703 billion VND, an increase of more than 3,554 billion VND compared to 2002, equivalent to an increase of 24 times. In which, the central capital reached more than 2,629 billion VND, accounting for 71% of the total capital, an increase of 2,499 billion VND compared to 2002; capital mobilized from organizations and individuals and receiving deposits from members of savings and loan groups reached VND 570.5 billion, accounting for 15.4% of total capital, an increase of VND 567.8 billion compared to 2002; trust fund in the province is 503.7 billion VND, accounting for 13.6% of total capital, increasing 487.5 billion VND compared to 2002. Policy credit has helped more than 653,000 turns of poor households and other policy beneficiaries have access to capital; contributing to helping more than 79,000 households overcome the poverty, creating jobs for more than 62,000 workers through funding to support job creation, 50,000 students have got loans to study and build 478 thousand clean water and toilet works, 3.7 thousand poor households borrowed capital to build houses... From the two initial policy credit programs, up to now, there have been 18 credit programs in the province being implemented.
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The provincial VBSP has actively coordinated with socio-political organizations and local authorities at all levels to drastically implement solutions to strengthen and improve credit quality. As of August 31, the ratio of overdue debt and frozen debt at the provincial VBSP was only 0.39% of the total outstanding balance.
The achievement of social policy credit over the past 20 years is really a bright spot, becoming one of the keys in the system of local poverty reduction policies. In the coming time, social policy credit will continue to be considered as an important solution of the province in the implementation of guidelines, policies, objectives and tasks of the Party and State on economic growth in parallel with implementing social justice and national target programs. The provincial VBSP continues to closely follow the development strategy of the VBSP until 2030, closely coordinating with entrusting socio-political organizations, relevant departments and agencies to consult the Provincial Party Committee, the People's Council, the Provincial People's Committee to implement policy credit work timely and effectively, meeting the needs and aspirations of the people.
Accordingly, the provincial VBSP ensures that 100% of the poor and other policy beneficiaries in the province who have needs and meet requirements to have access to products and services provided by the bank; complete 100% of the assigned credit plan; strive for an average annual credit growth rate of 8% or more. The branch will also focus on improving credit quality, striving to reduce the rate of overdue debt; simplify procedures and standardize business processes, promote digital transformation in operations; fully deploy and constantly improve the quality of products and services; improve customer service skills and quality; improve operational efficiency at commune transaction points. In addition, the branch will effectively coordinate and integrate social policy credit activities with technical assistance, technology transfer, industry, agriculture, forestry, fishery and other activities of socio-political organizations in order to quickly and sustainably reduce poverty, ensuring social security and building new rural areas in the province.
Hoang Dung
Translated by T.T
