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Poverty reduction policy credit benefits the poor in Central Highlands
Preferential loans from the Vietnam Bank for Social Policies (VBSP) have helped lift 121,000 households in the Central Highlands region out of poverty since 2013, helping reduce the poverty rate from 18.9 percent in 2011 to 11.22 percent in 2014.
According to the Steering Committee for the Central Highlands, during the period, 1.185 million households that lived under or near the poverty line and families of policy beneficiaries have gained access to these loans.
The credit has also helped create jobs for more than 34,000 laborers and supported learning tuitions for nearly 55,000 students. Approximately 312,000 clean water supply facilities and toilets, and more than 6,000 houses were built.
As of the end of November, the VBSP has a total credit balance of 16.3 trillion VND (717.2 million USD). The region’s average credit growth remained at 8.96 percent annually, above the national rate of 7.76 percent.
VBSP Director General Duong Quyet Thang said that in the following years, banks for social policies in the region will maintain sustainable operations to better support the targeted households, ensuring that all needy households can gain access to policy credit.
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