Binh Duong Provincial Alliance of Collectives informed that in the first 6 months of 2015 the managing board of Development Supporting Fund for Collectives has offered loans of VND 605 million with total balance of over VND 19.6 billion. The People’s Credit Fund has offered loans to 4,768 turns of small and medium sized enterprises and individual households with total financial resources of VND 1,744 billion.
Mr. Tran Van Thay, Chair of Binh Duong Provincial Alliance of Collectives informed that the plenum conference has agreed to change the fund name to Binh Duong Provincial Fund for Collective Economic Development Support. The name changing is to expand loans coverage to members of cooperation groups and collectives, supporting all subjects of collective economy with loans to expand their production and businesses.
Up to date, 344 cooperative groups and 118 collectives are operating under Law on Collectives. Business operations of the collectives have been advantageously developed with an estimation of about VND 449 billion gained by production and services in the first 6 months of the year. They have created regular jobs to 2,551 working people at average payment of VND 4.5 million per capita a month.
Reported by Q.Nhien – Translated by Vi Bao
