The conference was connected online with 63 provinces and cities across the country. Attending and chairing at the Ninh Binh bridge point was comrade Tong Quang Thin, member of the Provincial Party Standing Committee, Permanent Vice Chairman of the Provincial People's Committee, Head of the Board of Representatives of the Provincial Bank for Social Policies (BSP).
After 10 years of implementing Directive 40, more than 3 years of implementing Conclusion No. 06-KL/TW of the Secretariat on continuing to implement Directive No. 40, in the context of many difficulties and challenges in the international and domestic situation; the Central Bank for Social Policies always closely follows the Party's leadership policies and guidelines, the Government's directions; closely coordinates with ministries, branches; local Party committees, authorities, and socio-political organizations entrusted with resolutely directing the branches of the Bank for Social Policies in provinces and cities in implementing social policy credit; thanks to that, social policy credit activities in the period of 2014-2024 have achieved many important achievements and results.
Capital sources have grown remarkably, reaching VND 373,010 billion by the end of July 2024, an increase of VND 238,338 billion (nearly 2.8 times) compared to when the Directive began to be implemented. Since Directive 40 was issued, localities across the country have focused on and prioritized the allocation of local budgets entrusted to the Vietnam Bank for Social Policies to supplement loan capital. By July 31, 2024, capital sources entrusted from localities at all levels reached VND 47,350 billion, accounting for 12.7% of total capital sources.
Over the past 10 years, more than 12.9 million customers have received loans to serve production, business activities and create jobs with a loan turnover of VND 536,269 billion (accounting for 73.1% of total loan turnover).
In addition, policy credit also partly solves the essential needs in the lives of poor households and policy beneficiaries such as housing, clean water and environmental sanitation, education... with more than 167 thousand customers borrowing to build houses; 6.8 million customers borrowing to build clean water and rural environmental sanitation works; more than 610 million students borrowing capital to serve their study needs.
Policy credit also supports people and businesses affected by the COVID-19 pandemic; access to implement a number of foreign loan projects for the goal of poverty reduction and ensuring social security, with outstanding debt of VND 200 billion to date.
Along with the rapid implementation of credit policies for the poor and other policy subjects, the VBSP has coordinated with Party committees, authorities at all levels, entrusted social organizations, and Savings & Loan Groups to persistently and resolutely implement many synchronous solutions to continuously consolidate and improve credit quality.
The ratio of overdue debt and frozen debt decreased from 0.93% of total outstanding debt to 0.56% of total outstanding debt, of which overdue debt accounted for 0.22% of total outstanding debt, thereby contributing to preserving and developing capital for the State.
In addition, the VBSP also builds, maintains and regularly consolidates and perfects specific credit management methods and creative business operations, namely: Implementing direct lending methods with delegation of some work contents in the lending process through 4 socio-political organizations (Vietnam Women's Union, Vietnam Farmers' Association, Vietnam Veterans' Association and Ho Chi Minh Communist Youth Union); organizing transactions at commune transaction points; coordinating with local authorities and socio-political organizations to establish Savings and Loan Groups in villages, hamlets, and hamlets.
Thereby, bringing credit capital to beneficiaries quickly, publicly, democratically, reducing management costs and labor force for banks.
Social credit contributes to reducing the poverty rate in each period, from 14.2% to 4.25% in the 2011-2015 period, from 9.88% to 2.23% in the 2016-2021 period, and to 2.93% by the end of 2023 (according to the multidimensional poverty standard); contributing to preventing and gradually pushing back "black credit", promoting economic restructuring, especially in the agricultural and rural areas, while actively contributing to building communes and districts that meet new rural standards nationwide.
On the Ninh Binh side, in 10 years of implementing Directive No. 40, policy credit capital has been disbursed to nearly 591 thousand poor households and other policy beneficiaries, with loan turnover reaching nearly 12,054 billion VND. The capital contributed to helping nearly 81 thousand households overcome the poverty line; attracting and creating jobs for 78,630 workers, 83 people who had completed their prison sentences received loans to integrate into the community; 70,277 students in difficult circumstances received loans to study; supported nearly 1,600 students in difficult circumstances to buy equipment for online learning; built 348,571 clean water and environmental sanitation works; 1,700 houses for poor households and policy families, actively contributing to solving social security issues.
At the conference, delegates made statements clarifying the results and experiences of implementing Directive 40. At the same time, opinions affirmed that the Directive has profoundly changed the awareness and actions of Party committees, authorities and socio-political organizations towards social credit.
Since then, many favorable conditions have been created for the activities of the Social Policy Bank to perform well its assigned tasks, promoting the combined strength of the entire political system in implementing social policy credit; contributing to narrowing the gap between rich and poor, improving people's lives, contributing to political stability, national defense, security and economic development of the country.
In his concluding remarks at the conference, Prime Minister Pham Minh Chinh acknowledged, commended and highly appreciated the proactiveness and positivity of central ministries, branches, and local authorities at all levels, especially the important contributions of the State Bank and the Vietnam Bank for Social Policies in advising and organizing the implementation of Directive 40, Conclusion 06 of the Secretariat and the implementation plans issued by the Government and the Prime Minister.
Emphasizing that social credit is an important solution to implement the Party and State's guidelines, policies, goals and tasks on economic growth along with social justice and progress, leaving no one behind, Prime Minister Pham Minh Chinh oriented a number of key tasks in the coming time.
In particular, it is necessary to thoroughly grasp and more effectively implement the Party's policies and viewpoints on continuing to innovate and improve the quality of social policies according to Resolution 42-NQ/TW dated November 24, 2023 of the 13th Party Central Committee; on strengthening the Party's leadership over social credit according to Resolution 40 of the Secretariat; and the development strategy of the Vietnam Bank for Social Policies until 2030 according to Decision No. 05/QD-TTg of the Prime Minister.
It is necessary to soon complete the decree on the organization and operation of the VBSP in order to improve the effectiveness and efficiency of its operations. Effectively carry out the management work, improve the quality of the entrusted activities between the VBSP and socio-political organizations; improve the quality and ensure safety at commune-level transaction points.
Central ministries and branches continue to review and complete regulations to concentrate resources and improve the capital structure for the Vietnam Bank for Social Policies in a stable and sustainable manner. Research and supplement credit support policies to serve production, business and livelihood activities for people with average living standards, households working in agriculture, forestry, fishery and salt production.
In addition, it is necessary to continue reviewing and perfecting mechanisms and policies on financial credit, labor, wages and other policies to create conditions for the VBSP to develop and have the capacity to implement social credit more and more effectively.
The People's Credit Fund also needs to promote the application of information technology, digital transformation, banking modernization, improve professional capacity and ethics to build a team of prestigious, dedicated and devoted staff to serve the people.
Localities continue to prioritize the allocation of entrusted capital to the VBSP, thoroughly implementing Directive 34-CT/TW of the Secretariat on strengthening the Party's leadership in the development of social housing in the new situation. The Ministry of Construction is assigned to preside over and coordinate with the Ministry of Planning and Investment, the Ministry of Finance, and the State Bank to study and develop a support package of 30 trillion VND for loans to buy, rent, build, and repair social housing, and assign the VBSP to implement...
Nguyen Luu - Hoang Hiep
Source: https://baoninhbinh.org.vn/tong-ket-10-nam-thuc-hien-chi-thi-40-ct-tw/d20240814181827202.htm
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