Policy credit becomes a support for poor households

On the morning of January 7, 2025, the Board of Directors of the Social Policy Bank (SPB) of Lien Chieu District held a conference to review policy credit activities in 2024 and deploy tasks for 2025. The conference atmosphere was bustling, full of confidence and optimism about the positive results in 2024, with telling numbers reflecting a year of hard work and efficiency.

According to Mr. Tran Oanh Vu, Director of the Lien Chieu District Social Policy Bank Transaction Office, as of December 31, 2024, the total policy credit capital reached VND 869 billion, an increase of VND 102.6 billion compared to 2023. Of which, local capital reached VND 362 billion, accounting for 41.65%. Notably, the capital mobilized locally was subsidized by the Central Government with interest rates up to VND 61.8 billion, becoming an important driving force for policy credit programs.

Standing Deputy Secretary of Lien Chieu District Party Committee, Mr. Dang Ngoc Nhan spoke at the conference.

Total loan turnover in 2024 reached 312.7 billion VND with 4,277 customers. Major loan programs include: job creation loans with turnover of 227.4 billion VND, social housing program loans reaching 51 billion VND, loans for students in difficult circumstances reaching 6.7 billion VND, loans for poor households, near-poor households, and households that have just escaped poverty reaching 9.5 billion VND and loans for households with average living standards reaching 11 billion VND. The financial picture is more stable when total debt collection turnover reaches 166.3 billion VND, contributing to maintaining credit quality, with an overdue debt ratio of only 0.04%, a decrease of 152 million VND compared to 2023.

Conference scene

Speaking at the conference of the Standing Deputy Secretary of the Lien Chieu District Party Committee, Mr. Dang Ngoc Nhan praised the efforts of the Lien Chieu District Social Policy Bank, entrusted organizations and localities in the area in effectively implementing preferential credit programs. At the same time, Mr. Nhan emphasized: “Policy credit has become a support for disadvantaged households, helping them have more resources to overcome challenges. Since then, 1,087 poor households, near-poor households, and newly escaped poverty households have risen up to escape poverty sustainably; 11,294 workers have received capital support to create jobs; 950 students with difficult circumstances have been able to cover their study expenses. In particular, 708 customers have received loans to buy social housing to "settle down and make a living".

Units signed the emulation covenant in 2025

Not only that, the credit program also supported 14 subjects who had completed their prison sentences to borrow capital for production and business, helping those who had gone astray to reintegrate into the community and work hard and honestly; 142 households with average living standards to invest in production and business; and 87 union members to overcome difficulties and work with peace of mind. These figures are not only achievements but also evidence of the spread and practicality of policy credit.

To achieve the above results, the Lien Chieu District Social Policy Bank has closely coordinated with mass organizations such as the Women's Union, Farmers' Association, Veterans' Association and Youth Union to implement policy credit. By the end of 2024, the total outstanding entrusted debt reached VND 842 billion, accounting for 97.28% of the total outstanding debt. Saving activities through the Savings and Credit Groups reached VND 38 billion, with 99.8% of group members participating. The Women's Union manages 89 groups with outstanding debt of VND 221.3 billion. The Farmers' Association manages 79 groups with outstanding debt of VND 211.6 billion. The Veterans' Association manages 74 groups with outstanding debt of VND 222.6 billion. The Youth Union manages 64 groups with outstanding debt of VND 186.4 billion...

Mr. Nguyen Kim Dung, Vice Chairman of the Farmers' Association of Da Nang City, Member of the Board of Directors of the Social Policy Bank of Da Nang City, expects to more effectively implement policy credit programs in 2025 in Lien Chieu district.

Mr. Nguyen Kim Dung, Vice Chairman of the Farmers' Association of Da Nang City, Member of the Board of Directors of the Social Policy Bank of Da Nang City also expressed his satisfaction and expectations for the future: “The results achieved in 2024 are a testament to the smooth coordination between the Social Policy Bank of Lien Chieu District and the entrusted organizations and localities. In 2025, the Social Policy Bank of Lien Chieu District needs to continue to focus on increasing outstanding loans, reducing overdue debt ratios, improving the quality of savings and loan groups, and at the same time stepping up inspection and supervision to ensure sustainable efficiency.”

In 2025, the Board of Directors of the Lien Chieu District Social Policy Bank set a target of increasing outstanding loans by at least 10%, overdue debt ratio below 0.03%, mobilizing deposits to reach 100% of the plan and ensuring 100% of savings and loan groups are classified as good or fair.

Lien Chieu District has rewarded organizations and individuals with many efforts in social policy credit activities.

At the same time, deploy lending for a number of new credit programs from local trust capital sources when there is a policy of the city. Promote the implementation of lending for households with average living standards according to city standards; Provide loans for projects to support and create jobs with mortgages. Political and social organizations receiving trust continue to do a good job of information and propaganda on preferential credit policies. Promote propaganda, use of the App to manage policy credit, 100% of savings and credit groups enter data on monthly interest and savings collection... These goals are not only challenges but also motivations to promote socio-economic development, ensuring social security in the area.

On this occasion, the People's Committee of Lien Chieu District awarded 10 outstanding collectives and 20 individuals, along with 8 units that successfully completed the emulation targets from the beginning of 2024. These awards are not only recognition but also inspiration to continue promoting the effectiveness of policy credit in the new year 2025.

Source: https://thoibaonganhang.vn/tin-dung-chinh-sach-tro-thanh-diem-tua-cho-ho-gia-dinh-kho-khan-159672.html