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Press Release

Updated: 2017-10-30 10:39:18

Deputy PM instructs increasing lending for poverty alleviation

(VBSP News) Deputy Prime Minister Vuong Dinh Hue asked the Vietnam Bank for Social Policies (VBSP) to increase lending under poverty alleviation programmes such as credit for the poor, labour export schemes and economic projects which can create more jobs and develop local economy.

 

anh hue

Deputy Prime Minister Vuong Dinh Hue

 In document No 160/TB-VPCP issued by the Government Office, the Deputy PM required the VBSP to revise credit policies and mechanisms, making them practical and relevant to the national target programme on building new-style rural areas, in order to make social policy credit an effective tool to reduce poverty sustainably, develop rural areas and ensure social welfare.

Meanwhile, local governments should channel capital from their budgets or mobilise other legal capital to the VBSP to increase financial resource for lending. 

Localities should regularly update on the numbers of poor and near-poor households and families entitled to social welfare policies and create favourable conditions for them to get access to the VBSP’s loans.

According to a report from the VBSP, after 13 years of operation, the bank established a network of nearly 11,000 transaction points nationwide and mobilised VND152.5 trillion to lend VND147,819 trillion, as of May 2016. 

More than 28.8 million poor and near-poor households and other beneficiaries borrowed VND356 trillion, which helped lift 4 million households above the poverty line, and create new jobs for over 3.2 million labourers, including 107,000 overseas workers. 

The bank lent to 3.4 million disadvantaged students and built over 8.1 million washroom and sanitary facilities in rural areas, more than 7,500 flood-resistant houses in the central region, over 104,000 elevated houses in the Mekong Delta and 484,000 other houses for poor families and beneficiaries nationwide - VNS

 

PHOTO ARTICLES

LENDING INTEREST RATE

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

Students

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
Others...

DEPOSIT INTEREST RATE

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