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Updated: 2017-12-14 23:35:52

Nearly 1.5 million ethnic minority households access financial services and products

(VBSP News) More than 1,473,000 ethnic minority households across the country have been benefiting from preferential credit programmes with total loans worth up to 40 trillion VND (over 1.76 billion USD), reported the Vietnam Bank for Social Policies.
Tín dụng chính sách giúp đồng bào dân tộc thiểu số tỉnh Cao Bằng có vốn phát triển sản xuất
Ethnic minority in Cao Bang - North mountainous province are making transaction with bank staff
 
The VBSP said it has been providing loans totalling 166 trillion VND (7.31 billion USD) under 18 preferential credit programmes and other projects decided by the Government.

Preferential credits have benefited all ethnic minority households in extremely disadvantaged, remote and isolate communes, hamlets and villages. Some households have borrowed capital from several programmes.

The loans have brought in practical results, contributing remarkably to economic development and improving living conditions of households and ethnic minority families in particular.

The VBSP has focused on enhancing the efficiency of policy credits, particularly in the northwest, Central Highlands and southwest regions while working with local socio-political organisations to carry out the job. 

Minister, Chairman of the Government’s Committee for Ethnic Minority Affairs Do Van Chien said the preferential credit programmes implemented by the bank have helped households, particularly ethnic minority families, stabilise their lives and reduce poverty sustainably.

However, Chien stressed the need to increase technology transfer and expand stable markets for products, while concentrated production zones should be developed in ethnic minority-inhabited areas.-VNA

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LENDING INTEREST RATE

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Lending to poor households 6,6%/year
Lending to poor households in 64 poor districts as stipulated by the Government Resolution No.30a in 2008 3,3%/year

Near Poor Households

Lending to near poor households 7,92%/year

Students

Lending to disadvantaged students 6,6%/year

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Lending to business establishments owned by war invalids and handicapped persons 3,3%/year
Others...

DEPOSIT INTEREST RATE

Term Deposit Rate
Overnight 3,04%/year
1 week 3,23%/year
2 week 3,5%/year
Others...