On 1st Oct, in Hanoi, Vietnam Social Policy Bank cooperated with Vietnam Farmers Association, Vietnam Women's Union, Vietnam Veterans Association, Central Youth Union held a conference to summarize entrusted loans to poor households and policy beneficiaries in the period 2015-2020. The online conferences is transmitted to provinces and cities in the country. In Binh Duong, Vo Van Duc, Director of Social Policy Bank - Binh Duong branch, was authorized by provincial leaders to preside over the online conference.
Over the past 5 years, provincial Social Policy Bank branch collaborated with socio-political organizations to deploy entrusted loans widely and consistently from central to local level. As a result, the entrusted loans to poor households and policy beneficiaries in 2015-2020 period was implemented through 18 credit programs.
As of August 31st 2020, total loans of credit programs by entrusted method reached 220,545 billion VND, accounting for 99.56% of total loan of provincial Social Policy Bank branch of the whole period; the average annual growth rate is 11.8%. Particularly in Binh Duong province, provincial Social Policy Bank branch and organizations, such as Provincial Women's Union, Farmers Association, Veterans Association, and Youth Union, deployed entrusted loans with a total outstanding loan of over 3,136 billion VND, an increase of 2,045 billion VND compared to 2015. Entrusted loans to poor households and social policy beneficiaries actually helped these people escape poverty and better their lives, contributing to the implementation of national target programs such as poverty alleviation, new rural construction in localities.
During 2020-2025 period, the system of Social Policy Bank and mass organizations will strive to mobilize more capital from local budgets to increase annually on average to over 20%; carry out entrustment activities with total outstanding loans to increase by 6 - 10% / year on average...
Reported by Thanh Hong - Translated by Ngoc Huynh
