Social policy credit has long been identified as one of the important pillars in Vietnam's social security policy system. In the context of constantly changing economic development and increasingly new challenges, the combination of economic development and ensuring social equity has become extremely necessary. Social policy credit is an effective tool to do this, contributing significantly to poverty reduction, improving the quality of life and ensuring that all people benefit from the country's development.
At the conference summarizing 10 years of implementing Directive No. 40-CT/TW dated November 22, 2014 of the Secretariat of the 11th Party Central Committee, Governor of the State Bank of Vietnam and Chairwoman of the Board of Directors of the Vietnam Bank for Social Policies Nguyen Thi Hong assessed the results achieved over the past 10 years, affirming that Directive No. 40-CT/TW and Conclusion No. 06-KL/TW are correct, appropriate, practical and breakthrough solutions in directing the organization and implementation of social policy credit, thereby receiving the consensus and support of all levels, sectors and all classes of people; high appreciation from the World Bank and international organizations, contributing to the effective implementation of important guidelines, policies, goals and tasks set forth by the Party and State.
Governor of the State Bank of Vietnam and Chairwoman of the Board of Directors of the Vietnam Bank for Social Policies Nguyen Thi Hong speaks at the conference (Photo: Viet Hai - Thuy Trang - Huu Trung)
During the 10 years of implementing Directive No. 40-CT/TW of the Secretariat, social policy credit has helped millions of people overcome difficulties, created tens of millions of jobs, built essential infrastructure such as clean water and environmental sanitation for rural areas, supported students in covering their study costs, and many other programs to improve the lives of disadvantaged people in society.
Scene of the working session of the People's Credit Fund and people going to disburse (Photo: People's Credit Fund)
One of the outstanding successes is the support for people in remote areas where living conditions and the economy are still difficult. Policy credit has helped millions of households have the opportunity to borrow capital to develop production, improve income, and thereby escape poverty. These preferential loans not only provide financial support but also create a great motivation for people to be more confident in rising up and taking control of their lives.
Not only stopping at poverty reduction, social policy credit also plays an important role in ensuring social equity. This is demonstrated by not only supporting the poor but also expanding the loan target to other groups such as ethnic minorities, people with disabilities, and people in particularly difficult circumstances. This has helped reduce the gap between rich and poor, ensuring that everyone has the opportunity to participate in the economic development process.
Looking ahead, social policy credit will continue to be an important tool in Vietnam’s sustainable development strategy. The Government and relevant agencies are making efforts to improve the legal framework, policy mechanisms, and increase resources so that social policy credit can better meet people’s needs in the new context. Close coordination between government levels, the Vietnam Bank for Social Policies, and socio-political organizations will be the key to improving the effectiveness of this policy.
Social policy credit is not only a financial tool but also a means to achieve the country's important social goals. With the right leadership and active participation of the entire political system, social policy credit will continue to be an important pillar contributing to the sustainable and equitable development of Vietnam.
Source: https://nld.com.vn/tin-dung-chinh-sach-xa-hoi-tru-cot-cua-su-phat-trien-ben-vung-va-cong-bang-1962408161634526.htm
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