Lang Son: Further improving the effectiveness of social policy credit

In recent years, preferential credit capital from the Vietnam Bank for Social Policies (VBSP) has created changes, reduced the poverty rate, and improved the lives of people in Lang Son. With many lending programs, people not only enjoy preferential loans for production and business, but can also borrow for their children to go to school or build houses.

Mr. Luong Dinh Hao, in Hoang Van Thu quarter, Bac Son town, Bac Son district, Lang Son province, is a typical example of effective use of social policy credit capital. As a family with difficult economic circumstances, Mr. Hao and his wife do not have stable jobs, and have to raise three school-age children, so their situation is even more difficult.

Mr. Hao shared: “Through the propaganda of associations, unions, savings and loan groups, I boldly borrowed capital from the job creation program of the Vietnam Bank for Social Policies to raise livestock and poultry and invest in welding and forging to develop the family economy, then borrowed capital from the program for students in difficult circumstances to send my children to school. Thanks to the capital borrowed from the Vietnam Bank for Social Policies to develop the economy and support the children to go to school, my family has escaped difficulties.”

Up to now, Mr. Hao's three children all have stable jobs and income to pay off their student loan debt at the Social Policy Bank.

In particular, in 2023, Mr. Hao's family once again received a social housing loan of VND 500 million to build a new 117m² level 4 house. Currently, the house has been completed and put into use.

Staff of Lang Son Social Policy Bank disburse at commune transaction point

According to the VBSP Lang Son branch, by the end of 2024, the branch's total credit capital will reach over VND 5,098 billion, an increase of over VND 688 billion compared to 2023, a growth rate of 15.6%; loan turnover will reach nearly VND 1,612 billion with more than 25,400 customers receiving loans; total outstanding loans of 19 credit programs will reach over VND 5,092 billion, an increase of over VND 685 billion compared to 2023. The lending capital of the VBSP continues to actively and effectively contribute to the goals of socio-economic development, poverty reduction, social security, and new rural construction in the area. The loan has helped people raise over 5,000 livestock, plant over 35,000 hectares of forest, nearly 3,000 hectares of fruit trees, build over 15,000 clean water and sanitation facilities, support job creation and maintain jobs for over 8,000 workers...

With special attention, the Provincial Party Committee, People's Council, and People's Committee have led and directed the VBSP to implement many synchronous and drastic solutions, effectively implement policy credit programs, and excellently complete assigned tasks and planning targets. Socio-political organizations at all levels have closely coordinated with the VBSP in effectively implementing the contents of entrusted loan management, regularly consolidating and improving credit quality; the total outstanding balance of entrusted loans reached over VND 5,063 billion, an increase of over VND 671 billion compared to 2023, accounting for 99.4% of the total outstanding balance of the VBSP.

In 2025, the VBSP of Lang Son province strives for the total outstanding balance of credit programs to reach VND 5,750 billion, an increase of at least VND 650 billion; mobilize capital from organizations and individuals and receive deposits from members of savings and loan groups to reach over 100% of the assigned growth target; local budget capital entrusted through the VBSP for lending to poor households and policy beneficiaries to increase by at least VND 195 billion.

Comrade Duong Xuan Huyen, Standing Vice Chairman of Lang Son Provincial People's Committee, requested the Provincial Board of Directors to continue advising the Party Committee and authorities to effectively implement Directive No. 39-CT/TW dated October 30, 2024 of the Secretariat on improving the efficiency of policy credit activities in the new period; prioritize resource concentration, diversify capital mobilization channels; continue to advise on effectively transferring entrusted sources to the Social Policy Bank to provide loans to support job creation, maintain and expand employment and loans for other policy beneficiaries; at the same time, strengthen coordination between agencies and units to effectively implement the set goals and tasks.

The member agencies of the Board of Directors of the Social Policy Bank of Lang Son province, the socio-political organizations are entrusted to develop a plan for inspection and supervision, promptly grasp and remove difficulties and obstacles at the grassroots level, thereby promoting the role of savings and loan groups, reducing the bad debt ratio, improving credit quality, completing assigned tasks well, thereby, making an important contribution to socio-economic development, improving people's lives.

Source: https://thoibaonganhang.vn/lang-son-nang-cao-hon-nua-hieu-qua-tin-dung-chinh-sach-xa-hoi-161516.html