21 million households get preferential loans

This afternoon, August 14, Prime Minister Pham Minh Chinh chaired a national online conference to review 10 years of implementing Directive No. 40-CT/TW, dated November 22, 2014 of the Secretariat of the 11th tenure on strengthening the Party's leadership over social policy credit (CSXH). Vice Chairman of the Provincial People's Committee, Head of the Board of Directors of the Provincial Social Policy Bank Hoang Nam attended the conference at the Quang Tri province bridge.

Delegates attending the conference at the Quang Tri province bridge - Photo: HT

Reporting at the conference, General Director of the Bank for Social Policies Duong Quyet Thang stated that after 10 years of implementing Directive No. 40 and 3 years of implementing Conclusion No. 06 of the Secretariat, policy credit capital has grown remarkably, with a stable growth rate over the years, with each year higher than the previous year.

By the end of July 2024, the total policy credit capital reached VND 373,010 billion, an increase of VND 238,338 billion, nearly 2.8 times higher than when Directive No. 40 began to be implemented, with an average annual growth rate of 10.8%.

The capital has contributed to helping over 21 million households get preferential loans with a total loan turnover of VND 733,152 billion to develop production and business; at the same time helping over 3.1 million households overcome the poverty line; over 4.2 million workers borrow capital to create jobs; build over 13.2 million works to provide clean water, sanitation and environment to people in rural areas; over 610,000 students borrow capital to cover their study expenses; over 193,000 houses for the poor and policy beneficiaries; and over 1.2 million workers have their salaries paid by businesses due to the impact of COVID-19...

With a unique organizational model and credit management method involving the entire political system, the persistent and synchronous implementation of solutions has contributed to maintaining, consolidating and improving the quality of social credit. The ratio of overdue debt and frozen debt decreased from 0.93% of total outstanding debt to 0.56% of total outstanding debt, of which overdue debt accounted for 0.22% of total outstanding debt.

The conference listened to delegates present their opinions and contributions on the implementation of Directive No. 40 in practice; propose solutions for implementation in the new period and new context. At the same time, it was affirmed that Directive No. 40 is a correct, appropriate, practical and breakthrough policy in directing the organization and implementation of social credit to provide livelihoods, create more jobs, improve people's lives, contribute to preventing usury, help ensure security, order and social safety, and achieve the goal of promoting sustainable economic growth.

Speaking at the conference, Prime Minister Pham Minh Chinh affirmed that the consistent policy of our Party and State in the process of nation building is to develop the economy in parallel with implementing social justice and progress, leaving no one behind.

Therefore, with the participation of the entire political system, the implementation of Directive No. 40 over the past 10 years has achieved many impressive results, becoming a bright spot and a pillar in the system of poverty reduction policies, ensuring social security, meeting the aspirations of the people, especially the poor and vulnerable groups in society.

The Prime Minister requested that in the coming time, local Party committees and authorities continue to thoroughly grasp and more effectively implement the Party's guidelines and viewpoints on social policies; promptly complete the decree on the organization and operation of the Vietnam Bank for Social Policies. Central ministries and branches continue to review and complete regulations to concentrate resources and improve the capital structure for the Vietnam Bank for Social Policies in a stable and sustainable manner.

Proactively report and advise the National Assembly, the Government, and the Prime Minister to balance and provide sufficient charter capital, interest rates, management fees, and capital to implement newly issued credit policies. Localities should pay attention to balancing priorities and allocating local budgets to the Social Policy Bank. The Social Policy Bank system focuses on prioritizing capital sources for ethnic minorities, mountainous areas, extremely difficult areas, border islands, and remote areas.

Promote the application of information technology, digital transformation, and banking modernization. Improve management capacity, expertise, and professional ethics. Build a team of prestigious staff with advanced, modern, dedicated, and people-friendly working styles.

Ha Trang

Source: https://baoquangtri.vn/21-trieu-ho-dan-duoc-vay-von-uu-dai-187618.htm