On the afternoon of April 23, the Board of Directors of the Provincial Policy Bank held its 79th regular meeting to deploy tasks for the second quarter of 2024.
Comrade Bui Thanh An - Member of the Provincial Party Standing Committee, Vice Chairman of the Provincial People's Committee, Head of the Representative Board of the Provincial Social Policy Bank chaired the meeting. Attending the meeting were members of the Representative Board of the Provincial Social Policy Bank, relevant organizations and unions.
As of March 31, 2024, the total capital of the Social Policy Bank, Nghe An branch, reached VND 12,903 billion, achieving a growth rate of 1.91%. Loan turnover in the first quarter reached VND 990.5 billion, up 25.7% over the same period last year. In the quarter, there were 11 disbursed programs and 11 non-disbursed programs.
By March 31, 2024, the total outstanding debt reached VND 12,884.7 billion/22 policy credit programs (2 programs less than in 2023), achieving a growth rate of 1.86%. There were 9/22 credit programs with outstanding debt growth compared to the beginning of the year; 13 programs with outstanding debt reduction.
In the first quarter of 2024, the branch will continue to implement solutions to strictly control capital sources and continuously improve quality.
Saving activities through savings and loan groups continue to be maintained and implemented well. In the first quarter of 2024, the savings deposits of poor households and policy beneficiaries through savings and loan groups continue to grow and remain stable over the months. This is a form of accumulation for customers to create a source to gradually repay debts, gradually reducing the burden when due.
With the results achieved in the first quarter of 2024, Nghe An Provincial Social Policy Bank has been recognized and highly appreciated by the Vietnam Bank for Social Policies, as one of the 5 units that excellently completed the tasks in the first quarter of 2024.
At the meeting, members of the Board of Representatives gave their opinions on the first quarter's performance results, and at the same time, provided suggestions on solutions to implement tasks for the second quarter of 2024, such as: The pressure of increasing bad debt is still an issue of concern, it is necessary to continue promoting digital transformation, summarizing 10 years of implementing Directive 40, etc.
Concluding the meeting, Vice Chairman of the Provincial People's Committee Bui Thanh An acknowledged and highly appreciated the achievements of the Board of Representatives in the past time. At the same time, he requested the Board of Representatives of the Board of Directors at the provincial and district levels to direct and advise the Chairmen of the People's Committees of districts and towns that have not completed the transfer of local entrusted capital to continue to complete the assigned targets in the second quarter of 2024.
The provincial leaders also assigned the Department of Finance to preside over and advise the Provincial People's Committee to continue to balance and transfer sufficient local budget capital according to assigned targets to implement the Project "Investing in policy credit for poor households, near-poor households and other policy beneficiaries in Nghe An province, period 2023-2025".
The Provincial Ethnic Committee continues to be the focal point advising the Provincial People's Committee to direct the timely review and approval of beneficiaries of residential land, production land, value chain production and planting of precious medicinal plants according to Decree 28 of the Government as a basis for disbursing preferential credit capital.
The provincial and district-level Social Policy Banks develop a plan to organize a Conference to summarize and report on 10 years of implementing Directive No. 40-CT/TW. Increase capital mobilization in the area, actively seek capital from the Central Government and do a good job of debt collection to maximize resources to meet the loan needs of poor households and other policy beneficiaries.
Comrade Bui Thanh An also requested that socio-political organizations receiving the trust increase propaganda and mobilize members to borrow capital and people to actively participate in monthly savings and savings at market interest rates at commune transaction points. Guide borrowers to use capital effectively, integrate with programs and projects to build and replicate production and business models.
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