Research on 30,000 billion VND loan package for buying, renting, building and renovating houses

Prime Minister Pham Minh Chinh chairs the conference - Photo: VGP

On the afternoon of August 14, Prime Minister Pham Minh Chinh chaired a conference to review 10 years of implementing Directive No. 40 of the 11th Party Central Committee Secretariat on strengthening the Party's leadership over social policy credit.

Social policy capital increased sharply, supporting 21 million poor households

According to the report, in 10 years, 238,338 billion VND has been mobilized, bringing the total social policy credit capital to date to 373,010 billion VND, 2.8 times higher than before the implementation of the directive, with an average annual capital growth of 10.8%.

With large mobilized resources, social policy credit has supported over 21 million poor households and policy beneficiaries with loans totaling VND 733,152 billion. Meeting the goal of expanding the target, increasing the loan amount, contributing to providing livelihoods, creating more jobs, improving people's lives, contributing to preventing usury, helping to ensure security, order and social safety.

Thereby reducing the poverty rate in the period 2011 - 2015 from 14.2% to 4.25%; in the period 2016 - 2021 from 9.88% to 2.23%, and by the end of 2023 to 2.93% (according to the multidimensional poverty standard).

Prime Minister Pham Minh Chinh assessed the results achieved after more than a decade of the entire political system joining hands, social policy credit has become a "bright spot" and a "pillar" in the system of poverty reduction policies and ensuring social security.

However, there are still shortcomings and limitations, such as the capital structure is not really reasonable and ensures sustainability. The entrusted capital in some provinces is still limited, not commensurate with the potential and strengths of local socio-economic development.

Although some credit policies have been adjusted to increase loan levels, implementation is still slow (credit programs for clean water supply and environmental sanitation in rural areas, loans for disadvantaged areas...).

Therefore, the solution to focus on in the coming time is to continue to identify social policy credit. Practice has proven that the organizational model and credit management method of the Social Policy Bank implemented over the past 20 years are appropriate.

Therefore, it is necessary to soon complete the decree on the organization and operation of banks; effectively implement management work and improve the quality of operations.

Allocate funds for social policy

Prime Minister Pham Minh Chinh directed central ministries and branches to continue reviewing and perfecting regulations, aiming to concentrate resources, improve the capital structure for the Vietnam Bank for Social Policies in a stable and sustainable direction; balance and provide sufficient charter capital, interest rate compensation, management fees and capital to implement new credit policies.

The study allows for an increase in the issuance limit of government-guaranteed bonds; creates conditions for the Vietnam Bank for Social Policies to receive ODA capital and expand forms of capital mobilization...

The goal is to expand the target audience, increase the lending level of credit programs, in line with socio-economic development goals and implement national target programs in the coming period.

Research and supplement credit support policies to serve production and business activities for households with average living standards working in agriculture, forestry, fishery and salt production.

Localities need to continue to pay attention, balance, and prioritize the allocation of local budgets entrusted to the Social Policy Bank, especially capital for loans to create jobs, capital for loans to social housing, etc.

The Ministry of Construction and other ministries and branches research and develop a package of 30,000 billion VND (loans for buying, renting, hire-purchasing, building or renovating and repairing houses).

The Social Policy Bank will implement 15,000 billion from government bond issuance and 15,000 billion from local budget capital entrusted. Prioritizing capital sources for ethnic minorities in mountainous areas, especially difficult areas, remote areas, border areas, and islands.

The Vietnam Fatherland Front at all levels and socio-political organizations continue to do well in propaganda, supervision, and social criticism...

Source: https://tuoitre.vn/nghien-cuu-goi-30-000-ti-dong-cho-vay-mua-thue-xay-dung-va-cai-tao-nha-o-20240814191725554.htm