Summary of 10 years of implementing Directive No. 40-CT/TW on strengthening the Party's leadership over social policy credit

On the afternoon of August 14, Prime Minister Pham Minh Chinh chaired a national online conference to review 10 years of implementing Directive No. 40-CT/TW of the 11th Party Central Committee Secretariat on strengthening the Party's leadership over social policy credit (SPC) at 63 points nationwide.

Prime Minister Pham Minh Chinh chaired the national online conference.

Delegates attending at Thanh Hoa bridge point.

Attending the conference were comrade Pham Thi Thanh Thuy, member of the Standing Committee, Head of the Provincial Party Committee's Mass Mobilization Commission, Chairwoman of the Provincial Fatherland Front Committee; representatives of the Provincial Party Committee Office, People's Council, Provincial People's Committee, departments, branches, banks and representatives of members participating in the implementation of social credit capital in Thanh Hoa.

Comrade Nguyen Van Thi, Member of the Provincial Party Standing Committee, Permanent Vice Chairman of the Provincial People's Committee, Head of the Board of Directors of the Provincial Social Policy Bank, chaired at Thanh Hoa bridge.

Comrade Pham Thi Thanh Thuy, Standing Committee Member, Head of the Provincial Party Committee's Mass Mobilization Commission, Chairwoman of the Provincial Fatherland Front Committee and delegates attended the conference.

After 10 years of implementing Directive No. 40-CT/TW dated November 22, 2014 of the Central Party Secretariat on strengthening the Party's leadership over social policy (hereinafter referred to as Directive No. 40-CT/TW), in the context of many difficulties and challenges in the international and domestic situation, the Central Bank for Social Policies (CBSP) has always closely followed the Party's leadership policies and guidelines, the Government's directions; closely coordinated with ministries, branches; local Party committees, authorities, and socio-political organizations to resolutely direct the CBSP branches in provinces and cities in implementing social policy. Thanks to that, the tasks and objectives set out in Directive No. 40-CT/TW have been basically completed; CBSP activities in the 2014-2024 period have achieved many important achievements and results.

Delegates attending at Thanh Hoa bridge point.

Over the past 10 years, TDCSXH capital has reached 100% of communes, wards and towns nationwide. This is also the most widely implemented policy, meeting a large amount of capital needs for the poor. Since Directive No. 40-CT/TW was issued, localities nationwide have focused on, paid attention to, and prioritized the allocation of local budgets entrusted to the VBSP to supplement loan capital. By July 31, 2024, the capital entrusted from localities at all levels reached VND 47,350 billion, accounting for 12.7% of the total capital, an increase of VND 43,542 billion compared to before Directive No. 40-CT/TW.

Currently, 100% of provincial and district-level units have balanced and entrusted local budget capital to the Vietnam Bank for Social Policies to supplement lending capital. The total outstanding debt of policy credit programs reached VND 350,822 billion, an increase of VND 221,365 billion compared to the end of 2014, with more than 6.8 million poor households and policy beneficiaries still having outstanding debt, the average annual growth rate reached 10.5%.

Through the implementation of preferential credit policies, the combined strength of the whole society, local Party committees and authorities at all levels, especially the strength of socio-political organizations, has been mobilized to participate in implementing poverty reduction programs, caring for the lives of the poor and policy beneficiaries in Thanh Hoa province.

In Thanh Hoa, after 10 years of implementing Directive No. 40-CT/TW, Party committees at all levels, authorities, the Vietnam Fatherland Front and socio-political organizations have focused on leading and directing the synchronous and effective implementation, achieving important results. By June 30, 2024, the total capital reached 14,415 billion VND, an increase of 7,411 billion VND compared to 2014. Of which, the capital entrusted locally reached 633 billion VND, an increase of 507 billion VND compared to 2014.

Along with capital from the Central Government, local budget capital entrusted to the VBSP in the province has supported more than 847,000 poor households and other policy beneficiaries to borrow capital, with total lending turnover reaching 32,588 billion VND, total debt collection turnover reaching 25,173 billion VND, equal to 77.2% of lending turnover.

Directive No. 40-CT/TW and Conclusion No. 06-KL/TW of the Central Party Secretariat have demonstrated the consistent policy of the Party and State in economic development associated with the implementation of poverty reduction goals, ensuring social security, developing a market economy, and socialist orientation. Social credit has entered people's lives faster, achieved more positive results, in line with the Party and State's policies and guidelines in implementing the goal of rapid and sustainable poverty reduction, building new rural areas, ensuring social security, political stability, national security and defense. The organizational model and credit management method of the Vietnam Bank for Social Policies are consistent with the structure of the political system and Vietnam's reality, mobilizing the strength of the whole society to care for policy beneficiaries through social credit activities...

In his concluding remarks at the conference, Prime Minister Pham Minh Chinh acknowledged and highly appreciated the participation of the entire political system, social organizations, and the Vietnam Bank for Social Policies in implementing Directive No. 40-CT/TW. He also oriented a number of key tasks to continue implementing Directive No. 40-CT/TW in the coming time.

Accordingly, he suggested that the VBSP system continue to strengthen the Party's leadership over the social credit; advise the Government, central ministries, branches, and the Vietnam Fatherland Front on effectively implementing Directive No. 40-CT/TW and Conclusion No. 06-KL/TW. Enhance the role, responsibility, and operational efficiency of local Party committees and authorities at all levels, and socio-political organizations in implementing the social credit; pay attention to allocating local budgets to entrust loans to the poor and other policy beneficiaries in the area through the VBSP.

Thanh Hoa Social Policy Bank has coordinated with local socio-political organizations with dedication, responsibility, depth, closeness to the people, accompanying the people, listening to the thoughts and aspirations of the poor and other policy beneficiaries to effectively implement social policy programs according to the Government's goals.

Proactively report and advise the National Assembly, the Government, the Prime Minister, ministries and branches to balance and provide sufficient charter capital, interest rate compensation, management fees and capital to implement newly issued credit policies, ensuring that operating capital is allocated in the medium-term and annual public investment plans. At the same time, continue to review and focus on social credit capital sources originating from the State budget, prioritizing preferential capital sources with long terms and low interest rates to improve the capital structure towards stability and sustainability. The VBSP system closely coordinates with ministries, branches and local authorities to effectively link social credit with the implementation of national target programs; science and technology transfer activities; agricultural - forestry - fishery - salt production extension programs; vocational training; building production linkage models according to value chains, one commune one product program... to promote the efficiency of capital use. Proactively review and evaluate implementation results to promptly propose credit products suitable for the poor, social policy beneficiaries and management requirements in the new period to expand credit policies towards increasing limits and expanding loan recipients.

At the same time, strengthen the role of Party committees, authorities, the Fatherland Front, organizations at all levels and the VBSP system; enhance the spirit of serving the people, and work with the people to effectively manage and use policy capital. Thereby, actively mobilize deposit capital and revolving debt collection capital to focus on disbursement, meet the loan needs of poor households and other policy beneficiaries, especially lending to restore production after the pandemic, actively contributing to job creation, social stability, economic development, ensuring national defense and security in each locality and the whole country.

Khanh Phuong

Source: https://baothanhhoa.vn/tong-ket-10-nam-thuc-hien-chi-thi-so-40-ct-tw-ve-tang-cuong-su-lang-dao-cua-dang-doi-voi-tin-dung-chinh-sach-xa-hoi-nbsp-nbsp-222088.htm