Diversify capital sources to best serve the poor

Reporting at the meeting, Board of Directors member, General Director of the Bank for Social Policies Duong Quyet Thang said: Up to now, the total source of social policy credit has reached over 416 trillion VND, an increase of over 409 trillion VND compared to 2002, with an average annual growth rate of 21.4%; of which 58,783 billion VND is capital entrusted from local budgets. The total outstanding debt of policy credit programs has reached over 376 trillion VND. The average annual growth rate of outstanding debt has reached 21.1%. Currently, more than 6.8 million poor households, near-poor households and policy beneficiaries have outstanding loans at the Bank for Social Policies.

Concluding the meeting, Deputy Prime Minister Ho Duc Phoc stated: The VBSP is one of the “pillars” in the system of poverty reduction policies and social security in Vietnam, serving the poor and other policy beneficiaries, leaving no one behind. With creative approaches, the organization and apparatus are increasingly perfected and professional, effectively serving the poor and other policy beneficiaries.

Suggesting the development orientation in the coming time, Deputy Prime Minister Ho Duc Phoc emphasized: Firstly, the VBSP must be stable; the reorganization of the apparatus must be consistent with the current process of reorganizing administrative units. In particular, the reorganization of the apparatus must maintain the customer network.

Second, the VBSP needs to diversify its capital sources, especially “cheap” capital sources to serve poor and near-poor households and policy beneficiaries. It is necessary to continue to improve efficiency and research to expand the form of receiving entrusted capital not only from localities but also from enterprises and corporations.

Third, the Deputy Prime Minister requested that the VBSP continue to focus on developing professional and modern human resources, arranging and managing personnel reasonably and effectively. "Each officer of the VBSP considers the agency as his or her own home, and works for the VBSP as if it were his or her own business."

Fourth, the Deputy Prime Minister requested the VBSP to continue researching and promoting the application of information technology, digital transformation, big data, etc. to improve the operational efficiency of the entire system, best serving the poor and policy beneficiaries.

Fifth, the Deputy Prime Minister requested the VBSP to continue to strengthen governance and capital management closely and effectively; review, research, and rebuild to optimize the loan approval, disbursement, monitoring, debt collection processes, etc. in accordance with the General Secretary's direction to reduce at least 30% of administrative procedures.

Sixth, the Deputy Prime Minister requested the State Bank and relevant agencies to study and advise the Government on issues related to lending to young people to buy houses; lending to people to buy or rent social housing... with a spirit of innovation, creative approaches, in line with the development process of society, creating conditions for the disadvantaged to rise up.

The Deputy Prime Minister hopes and believes that in the coming time, the VBSP will continue to develop strongly, meeting the development needs of society.

Over the past 23 years, nearly 47.9 million poor households and other policy beneficiaries have received preferential loans; thereby helping more than 7 million households overcome the poverty line; attracting and creating jobs for more than 7.6 million workers; helping more than 4 million disadvantaged students get loans for their studies; building nearly 20.4 million clean water and environmental sanitation works in rural areas; building, purchasing, and leasing nearly 784,000 houses for poor households, low-income households, and policy beneficiaries, etc.

H.Thu

Source: https://baophapluat.vn/da-dang-hoa-nguon-von-de-phuc-vu-tot-nhat-cho-nguoi-ngheo-post543690.html