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Updated: 2020-04-08 14:03:34

Hanoi supports disadvantaged groups to overcome impacts of COVID-19

(VBSP News) The Standing Board of the Hanoi People’s Council has agreed in principle with the proposal of the municipal People’s Committee to add VND650 billion (US$27.9 million) to the city budget capital entrusted through the Vietnam Bank for Social Policies (VBSP) – Hanoi branch to help disadvantaged groups overcome the impact of COVID-19.

Hanoi will supplement VND 650 billion to help disadvantaged groups overcome the impact of COVID-19. (Illustrative image)

Accordingly, the supplemented amount will be used to make loans to the poor and other policy beneficiaries across the capital city, enabling them to revive production and address the losses caused by the epidemic, contributing to realising the goal of sustainable poverty reduction, job creation and ensuring social security. In addition, Hanoi calls for donations and the joint efforts of the whole society to support the poor and underemployed to overcome such a difficult period.

The municipal People’s Committee insisted that after the capital allocation, the VBSP branch proactively coordinate with localities and entrusted organisations to make timely disbursement to beneficiaries to help them overcome the impact of COVID-19, thus ensuring practicality, efficiency and order of priority.

Loans should be prioritised for industries affected by the epidemic, such as those serving agricultural production and supplying food, foodstuff and medical services for the people, as well as those serving the people’s essential needs.

The Hanoi Party Committee also requested that after the allocation of the entrusted capital, it is necessary to evaluate its efficiency and draw lessons thereof to pave the way for the next allocation of capital from the city budget, in the spirit of the Party Central Committee’s Secretariat’s Directive No. 40-CT/TW dated November 22, 2014 on strengthening the Party’s leadership on social policy credit.




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