Motivate people to restore production

Storm No. 3 passed, leaving behind great damage to the people in the province. Following the direction of the Central and the province, the Bank for Social Policies, Quang Ninh branch, has implemented solutions to continue meeting the capital needs to restore production and accompany the people to overcome difficulties.

Officers of the Cam Pha City Social Policy Bank disbursed loans to two households affected by storm No. 3.

After storm No. 3, the entire 1ha of fish farming land of Ms. Nguyen Thuy Vinh's family (Son Thach area, Cam Thach ward, Cam Pha city) was "completely lost"; her seafood processing workshop had its roof blown off, was flooded, and had a power outage, causing many goods to be damaged. During the difficult time, Ms. Vinh received a loan of 70 million VND from the Cam Pha City Social Policy Bank from the job creation credit program. With this money, Ms. Vinh is gradually restoring production, ensuring her livelihood, and stabilizing her life.

Ms. Vinh shared: The amount of 70 million VND borrowed from the Social Policy Bank of Cam Pha City is small but is the motivation to help my family overcome this difficult time. I will use this money to start over, losing from the sea, standing up at the sea.

To help households affected by storm No. 3 recover production, the Bank for Social Policies, Quang Ninh branch, has directed local banks for social policies to focus capital to disburse loans to households, areas, and localities affected by the storm, ensuring full satisfaction of demand. At the same time, coordinate with local Party committees and authorities to disseminate, review, and guide households in need to complete loan applications to quickly disburse transactions in September 2024. Using central and local capital sources, from September 9 to present, the Bank for Social Policies, Quang Ninh branch has disbursed loans to 1,620 households with an amount of VND 108.7 billion, including many households affected by storm No. 3 to overcome difficulties, restore production, and develop the economy.

At the same time, based on the review, the Bank for Social Policies, Quang Ninh branch, has temporarily stopped collecting interest. until December 31, 2024. Accordingly, there are currently 12,709 households borrowing policy credit capital with a total outstanding debt of VND 741 billion that were damaged by storm No. 3 and have had their interest collection temporarily suspended.

Ms. Nguyen Thi Gai (zone 6, Cam Trung ward, Cam Pha city) has her loan interest collection temporarily suspended until the end of 2024.

Ms. Nguyen Thi Gai (Zone 6, Cam Trung Ward, Cam Pha City) shared: A few months ago, my family was able to borrow 70 million VND from the policy credit source. My family has reinforced the fish raft. The family's income depends on the fish raft, but now there is nothing left. Difficulties pile up on difficulties. Luckily, the bank has created conditions for me not to have to pay interest until the end of this year, this helps me reduce the burden, reduce costs, and feel secure in restoring production.

Currently, the Bank for Social Policies, Quang Ninh branch, is coordinating with sectors, localities, and socio-political organizations to review and compile a list of borrowers at risk due to objective reasons, determine the extent of damage to borrowers, and submit it to competent authorities for consideration of debt settlement by extending debt (extending the repayment period as committed in the credit contract), and debt freezing (not collecting debt from customers and not calculating interest on loans incurred during the debt freezing period). At the same time, it is guiding affected households to complete the risk settlement application and submit it to competent authorities for consideration. The Bank also reports to the central government and the province to arrange funds to ensure sufficient capital for lending to the poor and policy beneficiaries, in which, priority is given to capital for people affected by storm No. 3.

Implementing the opinions of the Standing Committee of the Provincial Party Committee and the Provincial People's Committee, the Bank for Social Policies, Quang Ninh branch, is coordinating with departments and branches to develop and soon complete the draft resolution on lending policy to supplement policy credit capital, helping people restore and develop production and business, stabilize livelihoods, and increase income.

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