Strengthening policy credit capital

To implement the credit plan targets for 2024, the Bank for Social Policies (VBSP) of Khanh Hoa province has assigned targets to districts, towns and cities for disbursement promptly, meeting the loan needs of poor households and other policy beneficiaries.

According to Lai Quyet Thang - Director of the VBSP's Transaction Office in Ninh Hoa town, currently, people have a great need for loans under the loan program to create jobs. Recently, the transaction office was allocated 3.6 billion VND of central capital by the Provincial Bank for Social Policies, 3 billion VND of which was for the loan program to create jobs, and 100 million VND for loans to people who have completed their prison sentences. ... In addition, local capital at the provincial and town levels allocated 5.8 billion VND to the transaction office to implement this credit program.

VBSP's Transaction Office in Khanh Vinh District was allocated 2 billion VND from the provincial budget and 600 million VND from the district budget to lend to create jobs. Currently, the transaction office has completed 100% of the province's capital allocation plan for 2024.

Le Van Thanh - Head of Planning - Credit Operations Department of Khanh Hoa Province's VBSP said that the additional loan capital to create jobs in the first quarter of 2024 is still limited. According to the 2024 credit plan of districts, towns and cities, the total need for loan capital to create jobs across the province is 336 billion VND. However, by March 31, central and local capital had only allocated 53.4 billion VND (meeting 15.9% of the plan).

To promptly meet the loan needs of poor households and other policy beneficiaries, right from the beginning of the year, the General Director of the Bank for Social Policies allowed the Provincial Bank for Social Policies to implement credit growth of 2% compared to the end of 2023. On March 22, the General Director of the Bank for Social Policies assigned the 2024 credit plan target for Khanh Hoa to increase outstanding debt from central capital to 74.3 billion VND, focusing on the following programs: Loans for clean water and environmental sanitation; loans for job creation; and loans for people who have completed their prison sentence. The Provincial Bank for Social Policies has advised the Head of the Board of Directors of the Provincial Bank for Social Policies to allocate and assign 2024 plan targets to districts, towns and cities for timely disbursement. In addition, the Provincial People's Committee transferred the first phase of entrusted capital (26 billion VND) to the Provincial Bank for Social Policies to meet the production and business loan needs of poor, near-poor households and other policy beneficiaries in the province. It is known that this entrusted capital source has been advised by the Provincial and District Bank for Social Policies to the Board of Directors Representatives at the same level to allocate to the locality to disburse for the loan program to create jobs.

At a recent working session with members of the Board of Directors of the Provincial Bank for Social Policies on policy credit activities in the first quarter and implementation of tasks in the second quarter of 2024, Le Huu Hoang - Permanent Vice Chairman The Provincial People's Committee, Head of the Representative Committee, directed the Department of Finance to continue advising the Provincial People's Committee to transfer the second phase of entrusted capital (30 billion VND) to the Provincial Bank for Social Policies to promptly meet the loan needs of local policy beneficiaries. He also requested the Board of Directors Representatives at all levels to have solutions to mobilize units, organizations, businesses and individuals in the area to deposit money at VBSP to increase disbursement capital according to the year's outstanding debt plan. The Provincial Bank for Social Policies coordinates with entrusted associations and unions to organize well the launching program "Savings Day, joining hands for the poor" to complete the target of deposit mobilization; actively propagate to increase the number of households participating in savings...

Mai Hoang

Translated by T.T