On the morning of November 16, Binh Duong provincial Collective Economic Development Support Fund, under the provincial Cooperative Alliance, held its annual customer conference for 2023.
The provincial Collective Economic Development Support Fund has always been there to support and assist cooperatives and collaborative groups in overcoming capital difficulties through favorable loan arrangements. Currently, the province has 222 collaborative groups with 2,062 members, operating with a capital of VND 47,975 billion; 234 cooperatives with 47,642 members, with a charter capital of VND 870,937 billion. These cooperatives and collaborative groups mainly operate in the fields of transportation, agriculture, handicrafts, construction, trade and services, environment, and people's credit funds. The activities of these cooperatives have made positive contributions to the local socio-economic development.
The provincial Collective Economic Development Support Fund is considered an important credit channel, helping cooperatives and collaborative groups overcome difficulties, access investment loans, expand production, and thereby create resources for their development.
In 2023, the provincial Collective Economic Development Support Fund resolved loan applications for 8 projects, with a disbursed capital of over VND 17.3 billion. To date, the fund has provided support loans for 118 projects, totaling VND 246 billion. The charter capital of the Provincial Collective Economic Development Support Fund is currently VND 70 billion.
Reported by T. Phuong – Translated by Vi Bao
