Over the years, social policy credit capital in Khanh Hoa province has made an important contribution to the implementation of poverty reduction policies, job creation and social security assurance for thousands of policy beneficiaries. In the coming time, the provincial Bank for Social Policies will continue to promote the effectiveness of social policy credit to serve the local socio-economic development goals.
Over the years, social policy credit capital in Khanh Hoa province has made an important contribution to the implementation of poverty reduction policies, job creation and social security assurance for thousands of policy beneficiaries. In the coming time, the provincial Bank for Social Policies (VBSP) will continue to promote the effectiveness of social policy credit to serve the local socio-economic development goals.
Contributing to poverty reduction, ensuring social security
According to Ho Dac Thich - Director of the Provincial Bank for Social Policy, 2022 is the year marking 20 years of implementation of Decree No. 78 dated October 4, 2002 of the Government on credit for the poor and other policy beneficiaries in the province. Over the past 20 years, with the attention and direction of VBSP, Party Committees and authorities at all levels, especially the direct and effective direction of the Board of Representatives of the Provincial VBSP, the close coordination of the entrusted socio-political organizations (Farmers Union, Women's Union, Veteran's Union and Youth Union), the support of departments, divisions, branches, localities and efforts of the province's VBSP has helped the policy credit capital in the province to grow continuously, and the credit quality has been improved.
Up to now, the province's VBSP has implemented 18 policy credit programs, such as loans to poor, near-poor households, households just getting out of poverty, job creation, rural clean water and sanitation, students, labor export, production development for ethnic minority households with special difficulties, socio-economic development in ethnic minority and mountainous areas... Especially, for credit policies to contribute to the implementation of the socio-economic recovery and development program according to the Government's Resolution No. 11, in 2022, the province's VBSP has focused on effectively implementing loans to support job creation and housing in society; loans for students with difficult circumstances to buy computers and equipment for learning; lending capital to non-public preschool and primary education institutions affected by the Covid-19 pandemic.
Credit capital from social policies over the past 20 years has helped 653,124 turns of poor, near-poor households, households just escaping poverty and other policy beneficiaries get loans with loan turnover reaching more than VND 11,505 billion; debt collection reached more than 7,911 billion VND. Policy credit has contributed to helping 79,378 households get out of poverty; creating jobs for 62,033 laborers through funding to support job creation; 50,151 pupils and students are entitled to study loans; building 478,542 clean water works and sanitation works; 3,742 poor households have borrowed capital to build houses... Thereby, contributing to reducing the poverty rate in the province.
Social policy capital has contributed to creating jobs, ensuring social security, building new countryside and promoting socio-economic development according to the orientation of each period of the Provincial Party Committee, the People's Council, the provincial People's Committee; contribute to the realization of the objectives of economic restructuring, restoration of craft villages and development and expansion of OCOP products (One Commune One Product Program) in the province. Policy credit has contributed to limiting usury in rural areas, helping the poor and policy beneficiaries to become self-reliant and familiar with financial and banking services; step by step fundamentally change awareness, help households use loans effectively, and improve their quality of life.
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Following development orientations of the province for effective lending
In 2023 and the following years, the province determined to continue promoting the effectiveness of credit activities for social policies; focus on solutions to improve the operational capacity of the provincial VBSP; ensuring credit for social policies, contributing to the successful implementation of goals and tasks in sustainable poverty reduction, job creation, social security assurance and new rural construction in the province; promote the role of social policy credit in the implementation of the province's socio-economic development strategy for the period of 2021 - 2030, Resolution No. 09 dated January 28, 2022 of the Politburo on construction and development Khanh Hoa province to 2030, vision to 2045.
Ho Dac Thich affirmed that policy credit is one of the pillars in the system of poverty reducting policies in the province. In the coming time, closely following the poverty reduction target in the Government's Resolution 42 dated March 21, 2022 as well as promulgating the Government's Action Program to implement Resolution 09 of the Politburo and the province’s Action Plan of Resolution 09, policy credit will focus on implementing national target programs on sustainable poverty reduction, new rural area construction, socio-economic development in ethnic minority areas and mountainous areas in order to create the best support conditions for poor, near-poor households and other policy beneficiaries to rise out of poverty sustainably, raise income and improve their lives. In particular, the provincial VBSP will prioritize policy credit funds for the two mountainous districts of Khanh Son and Khanh Vinh, especially credit programs for poor households and ethnic minorities to contribute to supporting the two districtsto get rid of the poor districts by the end of 2025.
Along with that, VBSP will reserve a large amount of capital on loans to create jobs and raise incomes for people; lend capital for socio-economic recovery after the Covid-19 epidemic; effectively implement credit policies for agricultural and rural development…
After 20 years of implementing Decree No. 78, total policy credit capital and total policy credit outstanding have both increased 24 times compared to 2002. As of November 30, 2022, total credit capital policies reached more than 3,741 billion VND (up 10.86% compared to 202. Total outstanding loans of policy credit programs as of November 30, 2022 was more than VND 3,730 billion (up 10.53% compared to the beginning of the year) with 111,362 customers with outstanding loans. In the first 11 months of 2022 alone, loan sales reached nearly 1,379 billion VND, with 37,175 loans of customers; debt collection revenue was nearly 1,018 billion VND.
Nam Du
Translated by T.T
