Policy credit capital - a pillar for escaping poverty.
During the period 2020-2025, the Provincial Branch of the Vietnam Bank for Social Policies (VBSP) proactively followed the directives of the VBSP General Director, the Provincial Party Committee, and the Provincial People's Committee to effectively implement policy credit programs. As of February 2025, the total policy credit capital in the province reached VND 5,502 billion, an increase of VND 2,777 billion compared to the end of 2019, and a 101.9% increase compared to 2019. Of this, VND 4,823 billion was allocated from the central government, VND 710 billion was mobilized from organizations and individuals, and VND 678 billion was entrusted capital from the local budget (9.4 times higher than in 2019), accounting for 12.35% of the total capital. The branch is currently implementing 13 credit programs, with a total outstanding loan balance reaching VND 5,491 billion by the end of February 2025, an increase of 102% compared to the end of 2019. The outstanding loans are mainly concentrated in the following programs: Job creation support (VND 1,500 billion), loans for clean water and rural sanitation (VND 1,239 billion), loans for disadvantaged students (VND 845 billion), support for newly lifted-out-of-poverty households (VND 725 billion)...
Policy credit funds are proving effective.
Policy credit funds have proven effective, providing timely support to over 34,000 poor ethnic minority households, poor and near-poor households, and households with average living standards, enabling them to invest in production and business. Over the past five years, the policy credit program has created jobs for 32,800 workers; supported 14,800 disadvantaged students with loans for their studies; and constructed over 162,000 rural water supply and sanitation projects. Notably, 551 low-income individuals have received loans to purchase social housing, 256 poor ethnic minority households have received support for house construction, and 84 individuals who have completed their prison sentences have had the opportunity to borrow capital for production and business, contributing to stabilizing their lives and developing the economy .
Besides their professional duties, the staff and employees of the Provincial Social Policy Bank actively participate in social work. During the period 2020-2025, the grassroots trade union and departmental trade unions implemented social welfare programs totaling over 4 billion VND.
Honoring outstanding and innovative workers during the period 2020 - 2025.
Competition is linked to professional duties.
In response to the industry's emulation movements, from 2020 to 2025, the provincial branch of the Vietnam Bank for Social Policies (VBSP) launched 49 emulation movements, creating a vibrant atmosphere throughout the unit. These movements focused on the goal of excellently completing assigned tasks and achieving accomplishments to celebrate important events. Some typical movements include: "The whole country joins hands for the poor - Leaving no one behind," "The whole country joins forces to build new rural areas," "Officials and employees compete to implement workplace culture"... In particular, the branch organized specialized emulation movements such as: "Mobilizing savings to join hands for the poor"; excellently achieving loan growth targets; and competing to consolidate and improve the quality of operations and credit... As a result, 26 exemplary collectives and 120 exemplary individuals were honored at the banking industry level...
Ms. Vo Thi Minh Thao, Director of the Vietnam Bank for Social Policies (VBSP) provincial branch, stated: During the 2025-2030 period, the VBSP provincial branch will continue to improve the quality and effectiveness of its emulation activities to promote the excellent fulfillment of assigned political tasks. The branch launched an emulation movement with the theme “VBSP Binh Thuan Province upholds the tradition of Unity - Discipline - Dedication - Responsibility, striving to excellently fulfill political tasks in the 2025-2030 period” with nine key contents. This includes focusing on the effective implementation of Directive No. 39-CT/TW of the Party Central Committee on social policy credit and the implementation of the VBSP development strategy until 2030. The branch will continue to coordinate with socio-political organizations to promote the effective use of credit capital, helping borrowers escape poverty sustainably, while ensuring that disbursements reach the correct beneficiaries, contributing to stabilizing livelihoods and developing the local economy…
Source: https://baobinhthuan.com.vn/tin-dung-chinh-sach-xa-hoi-tiep-tuc-lan-toa-129225.html
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