Khanh Hoa improves the effectiveness of social policy credit

The Standing Committee of Khanh Hoa Provincial Party Committee has just issued a Plan to implement Directive No. 39 dated October 30, 2024 of the Secretariat on "Improving the effectiveness of social policy credit in the new period". This plan aims to strengthen the leadership and direction of Party committees, Party organizations and local authorities in social policy credit work, especially in the implementation of socio-economic development programs and plans of Khanh Hoa province.

Party committees, party organizations and authorities at all levels will strengthen leadership and direction in implementing social policy credit work in local socio-economic development programs.

At the same time, thoroughly understand the Party's guidelines and the State's policies and laws on social credit. Forms of propaganda will be diversified, focusing on propaganda through mass media, social networks and information technology applications to ensure that the Party and State's guidelines and policies are fully, promptly and widely conveyed.

The Standing Committee of Khanh Hoa Provincial Party Committee requested Party committees, Party organizations and authorities at all levels to identify social policy credit as one of the key tasks, especially in sustainable poverty reduction, socio-economic development in mountainous ethnic minority areas, new rural construction and ensuring social security in the locality. Departments, branches and authorities at all levels need to actively coordinate in building models, programs and projects for economic development, agricultural and forestry extension, technology transfer associated with social policy credit to improve the efficiency of capital use.

Social policy credit in Khanh Hoa has had positive changes, contributing significantly to the implementation of sustainable development goals.

The Vietnam Fatherland Front and socio-political organizations of Khanh Hoa province continue to promote their role in supervising, propagating and giving social criticism on the implementation of the Party's guidelines and the State's laws and policies on social credit, while also performing well the entrusted activities from the Social Policy Bank, Khanh Hoa branch.

Mr. Ho Dac Thich, Director of the Social Policy Bank, Khanh Hoa Province Branch, said that social policy credit in Khanh Hoa has had positive changes, contributing significantly to the implementation of sustainable development goals. To date, the total local budget capital entrusted through the Social Policy Bank is more than 634.4 billion VND, an increase of 471.2 billion VND compared to before implementing Directive No. 40 of the Secretariat.

Together with capital from the Central Government, in the past 10 years, the total lending turnover of policy credit programs reached more than 13,693 billion VND, supporting nearly 356,713 poor households and other policy beneficiaries. These results helped 84,983 households escape poverty, create jobs for 85,061 workers, build thousands of clean water and sanitation works, and support the construction of thousands of houses for poor households and other policy beneficiaries.

According to Mr. Thich, in the coming period, the continued implementation of Directive No. 39 on improving the effectiveness of social policy credit, as well as Decision No. 05 dated January 4, 2023 of the Prime Minister on the Development Strategy of the Vietnam Bank for Social Policies to 2030, will create new momentum for policy credit activities at the local level. Local specific credit policies will be studied and issued to improve the effectiveness of policy credit programs, while integrating credit programs with national target programs and socio-economic development projects.

Khanh Hoa province will continue to focus resources and diversify capital mobilization channels to implement social policy credit programs, in which the state budget will be the main source; and local budgets will be entrusted to the Vietnam Bank for Social Policies, striving to annually account for about 10-15% of the total credit growth of the Vietnam Bank for Social Policies, and by 2030 account for at least 15% of total capital sources.

He added that in 2024, the turnover of policy credit loans in Khanh Hoa province was nearly VND 1,496 billion, with 36,880 households borrowing. The total outstanding debt of policy credit programs in the area reached more than VND 4,588 billion, supporting 113,925 households with outstanding loans. These are important results, affirming the role and importance of social policy credit in implementing policies and goals on economic development and ensuring social equity in Khanh Hoa province.

Social policy credit is not only a solution to help the poor and other policy subjects access capital to develop production and business, but also one of the important tools contributing to sustainable development, ensuring social security and political stability, national security and defense in the locality.

Source: https://thoibaonganhang.vn/khanh-hoa-nang-cao-hieu-qua-tin-dung-chinh-sach-xa-hoi-161101-161101.html