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Press Release

Updated: 2022-01-06 09:31:37

Poverty rate drops in Bac Lieu province with help from VBSP’s loans

(VBSP News) The Mekong Delta province of Bac Lieu has reduced the number of poor households to 842, or 1.45 per cent of the province’s total households, by providing VBSP’s loans, vocational skills, and sustainable livelihood models to the poor.

Vegetable farming in Bac Lieu province. The province has provided soft loans to poor households for business or farming purposes to help them escape from poverty

Doan Kieu Trang, whose family in Gia Rai town’s Phong Tan commune was poor, received help to build a new house and was given a VBSP’s loan early this year to breed eel, frogs, chickens and ducks.

Do Minh Thang, chairman of the Gia Rai People’s Committee, said: “Members of poor households who do not have farmland are provided vocational skills to find stable jobs. Members of poor households who have farmland but lack money are provided VBSP’s loans for farming.”

The VBSP Bac Lieu branch provided a total of 2.28 trillion (US$99 million) loans to 110,000 households who are poor or near-poor, or who have had economic difficulty this year.

Pham Van Thieu, chairman of the province People’s Committee, said to reduce poverty sustainably, the province targets reducing its poverty rate by 1 – 1.5 per cent next year.




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