The provincial Collective Economic Development Assistance Fund has just held a client conference in 2020. According to the report, in 2019, the Fund Management Council has approved to lend to 14 members with a disbursement of nearly VND 38 billion, reaching 127% of the year plan; raising total outstanding loans to nearly VND 60 billion. In the first 5 months of 2020, the Fund Management Council has approved to lend 4 members with an amount of nearly VND 10 billion, reaching 49.54% of the annual target; raising total outstanding loans to date to over VND 64 billion dong.
Since its establishment and operation up to now, the Provincial Collective Economic Development Support Fund has provided loans to 87 cooperatives and cooperative members with an amount of over 182 billion dong. From this capital source, it has created favorable conditions for members to borrow from production, business, market development, and create stable jobs for members and laborers in the province. Along with that, the fund plans to regularly check the situation of production and business, monitor cooperatives that have used loans for the right purposes, mortgaged assets, the repayment of principals and interests in accordance with credit contracts, guaranteed capital and no bad debts.
Reported by Thoai Phuong –Translated by Vi Bao
