Officers of Bank of Social Policies are guiding public people of Tan An Commune in Thu Dau Mot City to complete the forms applying for loans
Mrs. Tran Thi Thanh Thuy, a person in poverty, residing at An Quoi Hamlet, An Son Commune of Thuan An Town informed that her family of 4 children in schooling age was saved by the preference capital of Thuan An Town Bank of Social Policies. Up to date, the schooling of her children has been stable .
Although the difficulties remain, we were really saved by the loans,” she said.
In the same situation with Mrs. Tran Thi Thanh Thuy, many other households in Thuan Giao Ward of Thuan An Town have escaped poverty thanks to preference capital of Bank of Social Policies. In previous years, families of households in poverty have escaped poverty to settle down.
Problems in balancing the capital
The investment of credit funds to the household in poverty has been facing problems due to the difference of poverty standards. In localities of Binh Duong Province, the poverty bottom line is of income per capita of VND 800,000 to VND 1,000,000 a month; however, the national standard is at VND 400,000 to 500,000, raising up limitation of loans to such people while localities have not yet invested with replacement funds.
As the matter of fact, farmers can only make loans of maximum VND 30 million as credit funding.
Groupleader of Cau Sat Credit Fund in Lai Hung of Ben Cat District, Mr. Nguyen Van Nghia informed that the framed credit policy shall not satisfy the increasing needs of loans which should be at VND 50 million for poverty escaping programs and VND 10 million for sanitation and water supplying facilities.
Deputy Director of Provincial Bank of Social Policies, Mr. Vo Van Duc said: “Our banking system is seeking for measures to timely satisfy the needs by preference credit funds; however, the high demands are dominating the financial capacity, prompting Bank of Social Policies to challenging mobilization and balance. In the year, our bank and Department of Labor, Invalids and Social Affairs have been approved by Provincial People’s Committee to establish a fund for job creation; however, in the stage of difficulties, such fund shall not be allocated yet to facilitate social welfare and job creation.”
Deputy Chair of Provincial People’s Committee, Mr. Huynh Van Nhi, who is also the representative head of Management Board of Binh Duong Provincial Bank of Policies stressed on checking up ratio of families in poverty and the drift of prices to balance and satisfy the needs of loans for the general targets of developmental targets in the locality.
Reported by Thanh Hong – Translated by Vi Bao
High demand, limited supply
For the past time, Provincial Bank of Social Policies continued its connecting role to deliver favorable credit policies of the government and localities to households in poverty and socially privileged households; however, the local poverty bottom line has been higher than government’s standards, making the preference capital source to be limited while the demand is growing.
Effectiveness of preference credit
In the first 6 months of 2013, Social Policy Bank has completed its assigned targets with total loans of VND 118.4 billion for 10,215 eligible households with a total balance of VND 908.8 billion. The preference capital to right beneficiary subjects has timely supported 62,000 socially privileged households with nearly 4,000 employees and 14,000 students in difficulties to construct about 17,000 clean water supplying stations and environment sanitation in rural areas.
Officers of Bank of Social Policies are guiding public people of Tan An Commune in Thu Dau Mot City to complete the forms applying for loans
Mrs. Tran Thi Thanh Thuy, a person in poverty, residing at An Quoi Hamlet, An Son Commune of Thuan An Town informed that her family of 4 children in schooling age was saved by the preference capital of Thuan An Town Bank of Social Policies. Up to date, the schooling of her children has been stable .
Although the difficulties remain, we were really saved by the loans,” she said.
In the same situation with Mrs. Tran Thi Thanh Thuy, many other households in Thuan Giao Ward of Thuan An Town have escaped poverty thanks to preference capital of Bank of Social Policies. In previous years, families of households in poverty have escaped poverty to settle down.
Problems in balancing the capital
The investment of credit funds to the household in poverty has been facing problems due to the difference of poverty standards. In localities of Binh Duong Province, the poverty bottom line is of income per capita of VND 800,000 to VND 1,000,000 a month; however, the national standard is at VND 400,000 to 500,000, raising up limitation of loans to such people while localities have not yet invested with replacement funds.
As the matter of fact, farmers can only make loans of maximum VND 30 million as credit funding.
Groupleader of Cau Sat Credit Fund in Lai Hung of Ben Cat District, Mr. Nguyen Van Nghia informed that the framed credit policy shall not satisfy the increasing needs of loans which should be at VND 50 million for poverty escaping programs and VND 10 million for sanitation and water supplying facilities.
Deputy Director of Provincial Bank of Social Policies, Mr. Vo Van Duc said: “Our banking system is seeking for measures to timely satisfy the needs by preference credit funds; however, the high demands are dominating the financial capacity, prompting Bank of Social Policies to challenging mobilization and balance. In the year, our bank and Department of Labor, Invalids and Social Affairs have been approved by Provincial People’s Committee to establish a fund for job creation; however, in the stage of difficulties, such fund shall not be allocated yet to facilitate social welfare and job creation.”
Deputy Chair of Provincial People’s Committee, Mr. Huynh Van Nhi, who is also the representative head of Management Board of Binh Duong Provincial Bank of Policies stressed on checking up ratio of families in poverty and the drift of prices to balance and satisfy the needs of loans for the general targets of developmental targets in the locality.
Reported by Thanh Hong – Translated by Vi Bao
Officers of Bank of Social Policies are guiding public people of Tan An Commune in Thu Dau Mot City to complete the forms applying for loans
Mrs. Tran Thi Thanh Thuy, a person in poverty, residing at An Quoi Hamlet, An Son Commune of Thuan An Town informed that her family of 4 children in schooling age was saved by the preference capital of Thuan An Town Bank of Social Policies. Up to date, the schooling of her children has been stable .
Although the difficulties remain, we were really saved by the loans,” she said.
In the same situation with Mrs. Tran Thi Thanh Thuy, many other households in Thuan Giao Ward of Thuan An Town have escaped poverty thanks to preference capital of Bank of Social Policies. In previous years, families of households in poverty have escaped poverty to settle down.
Problems in balancing the capital
The investment of credit funds to the household in poverty has been facing problems due to the difference of poverty standards. In localities of Binh Duong Province, the poverty bottom line is of income per capita of VND 800,000 to VND 1,000,000 a month; however, the national standard is at VND 400,000 to 500,000, raising up limitation of loans to such people while localities have not yet invested with replacement funds.
As the matter of fact, farmers can only make loans of maximum VND 30 million as credit funding.
Groupleader of Cau Sat Credit Fund in Lai Hung of Ben Cat District, Mr. Nguyen Van Nghia informed that the framed credit policy shall not satisfy the increasing needs of loans which should be at VND 50 million for poverty escaping programs and VND 10 million for sanitation and water supplying facilities.
Deputy Director of Provincial Bank of Social Policies, Mr. Vo Van Duc said: “Our banking system is seeking for measures to timely satisfy the needs by preference credit funds; however, the high demands are dominating the financial capacity, prompting Bank of Social Policies to challenging mobilization and balance. In the year, our bank and Department of Labor, Invalids and Social Affairs have been approved by Provincial People’s Committee to establish a fund for job creation; however, in the stage of difficulties, such fund shall not be allocated yet to facilitate social welfare and job creation.”
Deputy Chair of Provincial People’s Committee, Mr. Huynh Van Nhi, who is also the representative head of Management Board of Binh Duong Provincial Bank of Policies stressed on checking up ratio of families in poverty and the drift of prices to balance and satisfy the needs of loans for the general targets of developmental targets in the locality.
Reported by Thanh Hong – Translated by Vi Bao
