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Over 100,000 poor people have access to loans for working overseas for definite term
(VBSP News) The Vietnam Bank for Social Polices (VBSP) have said that it has disbursed nearly VND2.5 trillion as preferential loans for migrant workers from over 108,500 families to work overseas.
In particular, the loan program has assisted nearly 109,500 members from poor families and other vulnerable families in poor districts for working overseas for definite term, utilizing nearly 2.014 trillion. As of the end of March, VBSP outstanding loans for this credit program reached over VND 509 billion.
The VBSP loan program for migrant workers overseas has been considered a practical credit channel for poor families and other vulnerable families in poor districts, especially ethnic minority workers, to have opportunities to escape poverty, thus increasing their qualifications and improving living standards. Thanks to the loans, many migrant workers have better income and remit money to their families for improving likelihood and expanding business or production.
According to Nguyen Van Ly, VBSP Vice General Director, the loan has made great contribution to national poverty reduction programs. In addition, expanded migrant workers overaseas helps the country receive greater amount of remittances, deepen cooperative relationship with other countries, strenghthening national development and international integration.
Together with it, migrant workers have chance to learn advanced technologies and modern working style, which helps them, after returning home, have more professional awareness and working experience in start-up business, creating jobs for other employees, and gaining higher working productivity.
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