Vietnam Bank for Social Policies - Khanh Hoa Provincial Branch supporting people to restore production

Policy credit programs are the support for vulnerable groups, especially poor, near-poor, and disadvantaged households. Therefore, after the recent floods, Vietnam Bank for Social Policies (VPSP) - Khanh Hoa Provincial Branch has quickly implemented a series of policies to reduce interest rates and supplement loan sources to promptly help people restore production and stabilize their living.

According to Ho Dac Thich - Director of the provincial Bank for Social Policies, implementing Decision No. 2553 dated November 21, 2025 of the Prime Minister on adjusting lending interest rates for policy credit programs at the , the branch has urgently reviewed and applied new interest rates from December 1, 2025. Accordingly, 19 credit programs from central capital sources have had their interest rates adjusted down. Specifically, the rate for lending to poor households, students and pupils have decreased from 6.6%/year to 6.24%/year; the rate for production and business households in difficult areas and traders in difficult areas has decreased from 9%/year to 7.8%/year; the rate for clean water and rural environmental sanitation has decreased from 9%/year to 8.4%/year; the rate for near-poor households has decreased from 7.92%/year to 7.488%/year; the rate for households newly escaped from poverty decreased from 8.25%/year to 7.8%/year. Not only programs from central capital sources, the provincial Social Policy Bank has also advised the provincial People's Committee to adjust the corresponding interest rates for programs from locally managed capital sources, ensuring synchronization and timely support for people.

The Social Policy Bank - Khanh Hoa Provincial Branch disburses policy credit capital to people in Tay Nha Trang ward.

At the same time, the branch also quickly implemented Resolution No. 380, dated November 25, 2025 of the Government on solutions to overcome the consequences of natural disasters in the Central region. According to this resolution, all customers lent by the Social Policy Bank will enjoy a decrease of 2%/year interest rates reduced by from October 1, 2025 to December 31, 2025. In the province, more than 195,000 borrowers with more than 252,000 loans will have their interest rates adjusted down according to this special policy when there is a decision by the Prime Minister.

Not only recording the damage, the provincial Social Policy Bank had also counted the need for additional loans for people to reproduce after the flood, and then the branch reported to the Central Bank for Social Policies to request additional capital. To date, 120 billion VND of priority capital has been allocated to the province. Transaction offices are focusing on disbursing in a priority direction for areas and households that have suffered heavy losses. Up to now, the provincial Bank for Social Policies has disbursed more than 100 billion VND to 1,650 customers; at the same time, it continues to deploy loans in affected areas to help people quickly recover production and stabilize income.

MAI HOANG

Translated by T.T