- Ensuring social security from policy capital
- Over 2 million ethnic minority households escape poverty from policy funding
- Dong Thap uses credit capital as "leverage" to help people recover the economy
- Capital from the National Employment Fund is a "leverage" to help poor households in Dong Thap escape poverty.
Accordingly, the Ho Chi Minh City People's Committee assigned the target of allocating capital sources for loans to support poverty reduction and job creation for districts and Thu Duc City from the city budget in 2023.
The agency is authorized through the Social Policy Bank, city branch, to provide loans to support poverty reduction and job creation.
The City People's Committee assigned the Department of Labor, Invalids and Social Affairs; Director of the City Branch of the Bank for Social Policies to coordinate in signing the appendix of the Contract to entrust the above amount from the loan capital to support poverty reduction and job creation to the right subjects and in accordance with regulations.
From the source of loans to support poverty reduction and loans to create jobs, many women in Ho Chi Minh City have jobs with stable income.
At the same time, the Department of Labor, Invalids and Social Affairs, the Department of Finance, the People's Committees of districts and Thu Duc City are responsible for inspecting and supervising the implementation according to the allocated targets.
Regarding the implementation of the Development Strategy of the Social Policy Bank to 2030, the Ho Chi Minh City People's Committee assigned the Ho Chi Minh City Branch of the Social Policy Bank to preside over and coordinate with relevant departments, agencies, units and the People's Committee of Thu Duc City and districts to focus on improving the quality of all aspects of social policy credit activities, operating at transaction points of wards, communes and towns in the area to serve the people and arrange capital entrusted from the city budget to the Social Policy Bank to provide loans to create jobs and support poverty reduction according to the city's standards in each period.
The Department of Labor, Invalids and Social Affairs (the agency in charge of the National Target Program on Sustainable Poverty Reduction in the City) presides over and guides the People's Committees of districts, Thu Duc City, wards, communes and towns to organize periodic surveys and reviews to supplement poor and near-poor households in each period in accordance with regulations, as a basis for the Bank for Social Policies to implement preferential credit policies for poor and near-poor households and other policy beneficiaries.
Mr. Le Van Thinh - Director of the Department of Labor, Invalids and Social Affairs of Ho Chi Minh City said that currently, people's demand for loans is increasing, the loan amount is getting higher and higher, reaching the maximum loan amount according to regulations of 100 million VND/household for loans to support poverty reduction and 100 million VND/worker for loans to create jobs.
For poverty reduction support capital, the loan recipients are poor households, near-poor households in the city in the period of 2021-2025, and households that have just escaped poverty within 36 months (from the time of being recognized as escaping poverty).
For loans for job creation, the borrower must be a legal resident in the locality where the project is implemented. There must be a feasible loan plan to be implemented in Ho Chi Minh City. The worker can borrow up to 100 million VND with the content of capital use guaranteed according to the provisions of Decision 51.
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