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Over 1.8 million deprived households access preferential loans
Government-enacted credit policies dedicated to impoverished families nationwide had given preferential loans worth over 38.4 trillion VND (1.71 billion USD) to more than 1.8 million needy households by the end of October, according to the Vietnam Bank for Social Policy (VBSP).
Under the programme, more than 1.77 million business households in disadvantaged areas received loans worth 37.4 trillion VND (1.66 billion USD).
Decision No.31/2007/QD-TTg regulates that the VBSP can provide businesses and productive households with a maximum loan of 30 million VND (1,335 USD) at a lending interest rate of 0.9 percent per month. However, based on funding resources, investment demand and the borrowers’ ability to repay, the VBSP can decide the specific loan size. But it should not exceed 100 million VND (4,450 USD).
Meanwhile, nearly 30,000 traders doing business in difficult areas were able to borrow over 1 trillion VND (44.5 million VND) from the VBSP. According to Decision No.92/2009/QD-TTg, individual customers with collateral can borrow up to 100 million VND (4,450 USD) while the number for business organizations is 500 million VND (22.250 USD).
The implementation of the Government’s credit policies in deprived areas has helped household businesses and organizations develop their production and business, making contributions to local socio-economic development.
VietnamPlus
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- Contribute to improving the lives of policy beneficiaries and low-income workers
- Provincial Social Policy Bank Representative Board: Deploying tasks for 2025
- Social Policy Bank, Hai Duong province branch, commends excellent and creative workers
- Reduce the burden when relatives work abroad
- Social policies bank asked to diversify capital sources to best serve the poor
- Deputy Prime Minister Ho Duc Phoc chairs a working session with VBSP
- Policy credit helps poor households eliminate temporary and dilapidated houses
- Policy credit contributes to sustainable poverty reduction
- Effectiveness of Loan Capital for Formerly Incarcerated Individuals
- Eliminating temporary and dilapidated houses with policy credit funds
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