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Updated: 2020-02-04 09:27:43

A modern and humane Danang city

(VBSP News) The inclusive financial services implemented by VBSP Danang have resolved the social issues in urban area such as: social housing, job change after land acquisition, jobs for newly released people to resocialize, etc.

Ms. Tran Thi Kim Quy welcomed VBSP staffs at her new home

Livelihood improvement

Ms. Tran Thi Kim Quy, Hoa Tho Dong Ward, Cam Le District is listed as a poor household. Before her son went to work, the family relied on Ms. Quy's salary of VND 6 million/month at a cleaning service company. At that time, her old house was not rebuilt due to lack of money even it was dilapidated. Thanks to a VND 300 million loan from VBSP with low interest rate during 10 years, she could build a new house to prepare her son’s marriage.

Moreover, Ms. Quy' son, who studied at the university, majored in tourism, also received loans from VBSP to study under the program for disadvantaged students. After graduated, he has been working with the salary of VND 9 million/month and started repaying the social housing debt.

Ms. Tran Thi Anh Phuong at Group 24, Hoa Xuan Ward, Cam Le district was a near-poor household in 10 years ago.  After land acquisition, she was compensated with a residential land lot and accessed loans for relocated households. She invested in processing clothes machines for herself. Since her sewing factory developed and created jobs for 8 regular workers, VBSP continued to support her with a loan for new sewing machines. Ms. Phuong was also elected to be the Leader of Savings and Credit Group to disseminate and share experiences to other borrowers the way to use capital for the right purpose and efficiency. Her group currently has 36 members, the outstanding loans are 1.1 billion and there is no overdue debt.

Ms. Tran Thi Anh Phuong (front row) has invested nearly VND 10 million/sewing machine

Mr. Nguyen Thanh Lam in Hoa Xuan Ward, Cam Le district was a poor household and managed to make ends meets. In 2014, after attending a flower-planting training course, Mr. Lam borrowed the unfinished project land from People’s Committee and a loan of VND 30 million from VBSP to start a business. These practical supports have helped Mr. Lam succeed with flower planting. At present, Mr. Lam has 02 flower gardens with about 2 thousand pots of various species, creating regular job for 4 workers with a salary of VND 4-6 million/month. His business can earn hundreds of millions VND per year.

Mr. Nguyen Thanh Lam introduces Tet flowers to VBSP staff

Humane policy

With commercial finance, the borrower's criminal record is considered to be a very high risk factor. But with inclusive finance, the rehabilitated people will be considered to lend without collateral. Danang’s local budget has been entrusted to VBSP with 293 cases, outstanding loans of over VND 775 million. With VBSP’ specific method of loan management, the inclusive financial services for rehabilitated people has brought positive results.

Mr. N.Đ.Q had a criminal record of gambling in Thanh Khe Tay Ward, Thanh Khe District. Since being released from prison in 2017, he was allowed to borrow VND 30 million to return to work as a scrap metal collector. After deducting the monthly cost of living, he could save VND 3-4 million each month. Until now, his current loan was almost paid off and he will request to borrow another loan for the expansion.

Mrs. N.T.L.H in Thanh Khe Tay ward, Thanh Khe district has completely abandoned the gambling, and she has received a loan since December 2018 without collaterals and low interest rate, which is suitable for her family situation. Now she has a stable life with a refreshment coffee shop.

The inclusive financial services also cover all over the city, making a leverage to help the poor and other beneficiaries to improve quality of life. By the end of 2019, the total capital in Danang is VND 2,402 billion with 67,311 active customers. In particular, Danang local budget entrusted VBSP of VND 882 billion and many other supports from the authorities to implement inclusive financial services.

In 2019, Da Nang VBSP provided loans to 4,202 poor, near poor, newly escaped from poverty households; create jobs for 16,197 laborers; lend to 1,436 disadvantaged students; build 2,918 clean water falicities, build and repair 293 social houses and help 41 rehabilitated people to resocialize.

Source: vbsp.org.vn



Poor Households

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


Lending to disadvantaged students 6,6%/year

People in need of loans for job creation

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


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