Dong Thap strengthens the Party’s leadership over policy credit

Over the past ten years, the Party Committees and authorities of Dong Thap province have focused on leading and directing the implementation of Directive No. 40-CT/TW dated November 22, 2014 of the Central Party Secretariat on strengthening the Party's leadership over social policy credit work and effectively integrating policy credit with programs and plans of sectors, units and localities, contributing to socio-economic development and people's lives improvement.

Poor people in Dong Thap took preferential loans for livestock farming

The Provincial Fatherland Front Committee and mass organizations actively coordinated with relevant sectors to propagate and implement policies on credit policies associated with national target programs, especially preferential credit programs of VBSP to achieve the goal of poverty reduction, job creation and people's lives improvement.

The mass organizations coordinated with VBSP at the same level to properly evaluate and provide loans in accordance with regulations; arrange members of the Savings and Credit Groups to ensure according to residential areas, effectively promote capital sources.

Party committees and authorities at all levels direct the implementation of policies to mobilize resources to implement social credit programs associated with agricultural and rural development, education, vocational training, job creation and social security. In particular, priority is given to balancing budget capital to implement social policy credit programs and integrating social policy credit programs in public investment decisions, the National Target Program and other programs in the socio-economic development plan for the period 2021 - 2030. Along with that, the National Target Program on New Rural Development supporting capital for socio-economic development in border areas according to Conclusion No. 245 dated November 23, 2021 of the Dong Thap Provincial Party Committee and Conclusion No. 246 of the 11th Provincial Party Committee on continuing to promote leadership in sending workers to work abroad under contracts for the period 2021 – 2025 brought many practical results.

According to the report, over the past 10 years, the local budget entrusted to VBSP Dong Thap Provincial Branch to lend to poor households and other policy beneficiaries has reached VND 685 billion by June 30, 2024, an increase of VND 633 million, compared to 10 years ago (VND 52 billion), bringing the total outstanding debt of policy credit programs of VBSP Dong Thap Provincial Branch to over VND 5,412 billion, the overdue debt ratio is only 0.40%, decreased by 0.35% compared to 2014.

The above results were achieved because Dong Thap province focused on implementing Conclusion No. 246 dated November 23, 2021 of the Provincial Party Committee on continuing to promote leadership in sending workers to work abroad under contracts for the period 2021 - 2025, the policy of supporting loans for all households with workers working abroad to the maximum 90% of the cost, difficult cases are considered loans up to 100% of the cost.

Along with that, VBSP Dong Thap Branch regularly pays attention to the internal inspection 100% of units; Savings and Credit Groups; and effectively inspects the use of capital by borrowers.

In the coming time, the Party Committees and authorities at all levels in Dong Thap will continue to lead and direct the good implementation of Directive No. 40-CT/TW, in which social policy credit is considered an important solution for poverty reduction and job creation, new rural construction and the agricultural sector restructure. In addition, they continue to review and supplement eligible borrowers according to regulations and integrate policy credit activities with programs and policies on rural agricultural development, education development, vocational training, job creation, helping borrowers use loans effectively, improve their lives and repay bank debts.

At the same time, the Party Committees and authorities at all levels gradually expand the social policy beneficiaries eligible for loans, increase the loan amount and loan term in accordance with local socio-economic development target programs; Effectively implement the organization and management methods of entrustment through mass organizations; Develop products and services that bring convenience to the poor and other policy beneficiaries; Increase capital mobilization for social policy credit loans, contributing to the effective implementation of the VBSP’s Development Strategy for the period 2021 - 2030.

Dang Nhien