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Updated: 2017-12-14 23:05:18

Efficiency of financial products and services for the poor in Da Nang

(VBSP News) Over recent years, Da Nang’s authorities at all levels have effectively implemented preferential credit programmes for poor families and social policy beneficiaries. This has helped the recipients to enhance their living conditions, as well as improve local socio-economic development.

A VBSP employee disbursing a loan to a local resident
A VBSP employee disbursing a loan to a local resident

The family of Mr Truong Hoang Dieu from Hai Chau District’s Hoa Cuong Bac Ward is a typical example of the effective use of preferential credit loans. 

In 2015, his family took out a loan of 30 million VND at 0% interest for the first 3 years.  The loan was given by the city’s branch of the Viet Nam Bank for Social Policies (VBSP).

Mr Dieu used the money to open a carpentry workshop.  After 2 years of hard-work, he is now able to earn a stable income and bring up his school-aged children.  As a result, his family succeeded in lifting themselves above the poverty threshold earlier this year.

Director of the VBSP Doan Ngoc Chung said “A total of 3,891 poor, near-poor and out of poverty households across the city have been given loans of 116.1 billion VND in total in order to do support their business and production activities.  In addition, a total of 37.2 billion VND in loans has been provided for 1,480 local families to develop their own businesses and increase their incomes, whilst 4.5 billion VND has been loaned to 353 people who have ‘turned over a new leaf’ by making a positive change to their characters as they try to reintegrate into their local communities.”

Director Chung remarked that this year the VBSP is expecting to lend a total of 120 billion VND to needy people.

Da Nang Today



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