Signing the Emulation Covenant to implement social policy credit entrustment activities in 2025

Representatives of the units signed the emulation covenant.

In 2024, despite many difficulties and challenges, especially natural disasters and floods, which have affected socio-economic development and people's lives in many localities, especially poor households and policy beneficiaries. However, closely following the direction of the Vietnam Bank for Social Policies and the province, the Board of Directors of the Vietnam Bank for Social Policies, the provincial branch of the Vietnam Bank for Social Policies and the entrusted socio-political organizations have coordinated to advise and promptly and effectively implement preferential credit policy programs in the area. The implementation of policy credit growth coupled with the synchronous implementation of solutions to comprehensively consolidate the quality of policy credit at the grassroots level has had clear changes, bringing positive results.

The plan targets and tasks of the 4 entrusted organizations and the Social Policy Bank set out for the year were all fully completed and exceeded the plan. The total capital as of December 31, 2024 reached nearly VND 4,316 billion, an increase of more than VND 436 billion compared to December 31, 2023. The total outstanding debt was over VND 4,311 billion, an increase of 11.3% compared to 2023, of which the entrusted debt reached nearly VND 4,253 billion (accounting for 98.6%).

The quality of Savings and Loan Groups' operations has been improved. In 2024, the province has completed the restructuring of 99 Savings and Loan Groups. The number of Savings and Loan Groups classified as good is 2,070 (accounting for 93.5%). The Social Policy Bank and the Unions at all levels have completed 100% of the inspection and supervision plan for 2024.

The results of preferential credit investment have helped over 3,000 households escape poverty, contributing to reducing the poverty rate from 1.86% at the end of 2023 to 1.48% at the end of 2024; attracting and creating jobs for over 7,000 workers; investing in loans for nearly 1,600 students in difficult circumstances to study; investing in the construction and repair of nearly 30,000 clean water and sanitation works; supporting the construction of over 50 houses for poor households and policy beneficiaries,...

In the first quarter of 2025, the provincial branch of the Social Policy Bank and the entrusted socio-political organizations will continue to deploy rapid and timely policy credit growth, reaching the right beneficiaries right from the beginning of the year; solutions to strengthen credit quality will continue to be focused on and implemented, bringing positive results. The credit growth rate will reach 3.3%, higher than the same period in 2024, higher than the national average (the national average is 2.8%)...

At the conference, delegates discussed and evaluated more specifically the results of the implementation of the emulation covenant in 2024 between the VBSP and the entrusted socio-political organizations, at the same time pointing out difficulties, shortcomings and drawing lessons to better implement policy credit in the coming time.

The Social Policy Bank and 4 entrusted socio-political organizations have signed a competition agreement for 2025 with important targets: 100% of poor households, near-poor households, newly escaped-poverty households and other policy beneficiaries with needs and conditions will have access to products and services provided by the Social Policy Bank. The entrusted capital from the local budget accounts for at least 12% of the total capital of the Social Policy Bank in the province. The total capital reaches over VND 4,743 billion, the total outstanding debt reaches over VND 4,743 billion (an increase of 10% compared to December 31, 2024). Strive for overdue debt to decrease to below 0.12%, the rate of Savings and Loan Groups classified as good and fair accounts for over 98%.

Leaders of the Bank for Social Policies, Ninh Binh province branch, commended collectives with outstanding achievements.

On this occasion, many collectives and individuals with outstanding achievements in implementing the emulation covenant to implement social policy credit entrustment activities in 2024 were commended by the Bank for Social Policies, Ninh Binh branch.

Nguyen Luu-Anh Tuan

Source: https://baoninhbinh.org.vn/ky-ket-giao-uoc-thi-dua-thuc-hien-hoat-dong-uy-thac-tin-178076.htm