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Updated: 2021-06-25 14:24:34

The conclusion of implementing the Directive No. 40-CT/TW of the Party's Secretariat

(VBSP News) On June 10th 2021, the Secretariat of the Communist Party of Vietnam implemented Conclusion No. 06-KL/TW on continuing implementing the Directive No. 40-CT/TW on strengthening the Party's leadership towards social policy credit.

VBSP News recaps:

There are several significant achievements after 5 years of executing the Directive No. 40-CT/TW of the Party's Secretariat on strengthening the Party's leadership towards policy credit, shortened as Directive 40. Thanks to the determination in leadership and direction of the Communist Party, as well as the consistent and timely participation of the political system and VBSP, the policy credit programs have raised a significant amount of money, up to hundreds of thousands of billion VND. These programs have met the demand of borrowing money for the poor and other policy-based beneficiaries across the country. Besides, these programs support creating job opportunities, reduce sustainable poverty, and create new rural construction. In addition, VBSP's organizational model and operation are improved to perform new tasks. The bank has successfully built the method of entrusting loans in social policy credit besides actively in policy credit tasks to support, encourage the poor to escape from poverty.

The results indicate that Directive 40 is suitable, creative and meaningful. Directive 40 contributes to the implementation of other policies, missions of the Party and the Government in terms of economic development and the implementation of progress and social justice. These policies ensure the sustainable development of the country in accordance with the socialist orientation, which is appreciated by international organizations. 

On the other hand, there are several issues during the implementation of Directive 40. Few committees and local authorities have not paid attention to the social policy credit programs, which leads to unfinished tasks. The capital which is entrusted from the state budget to the local VBSP has not been processed timely, resulting in the lack of money. Despite the quality improvement of the credit, processes in local areas are not consistent. To be more specific, there is a lack of mechanisms to integrate and coordinate socio-economic programs and social policy credit programs. The limitation of the capacity and responsibilities of organizations entrusted by VBSP is considered another issue. Additionally, the dissemination and implementation of the social policy credit programs are not consistent in some areas.

To execute Directive 40 effectively, support the socio-economic development process, ensure social security and reduce sustainable poverty, the Party's Secretariat request several requirements to the Party committees, authorities, Vietnam Fatherland Front, socio-political organizations:

  1. Continue to grasp Directive 40 thoroughly by raising the awareness of social policy credit programs. Besides, people's lives should be improved both mentally and physically. The social policy credit programs play an important role in implementing the socio-economic development plan in the period of 2021-2025 and the socio-economic strategy from 2021-2030, which contributes to the successful implementation of the overall goals set out in the Resolution of the 13th National Party Congress.
  2. To effectively mobilize, manage and use capital from social policy credit programs, legal regulations should be reviewed, revised, supplemented and perfected, besides promulgating related mechanisms and policies. In addition, conditions should be created for VBSP to expand and mobilize resources from individuals, organizations. Hence, not only their target customers but also their loan level and loan term will be enhanced and expanded. These improvements are considered to be suitable with the National Target program and the country's socio-economic development objectives.
  3. Determining missions and tasks to timely allocate financial sources in the direction of integrating social policy credit programs in public investment decisions, National Target programs and other projects in the socio-economic development plan for the period of 2021-2030. VBSP should focus on social policy credit sources, which are derived from the State budget, charity budget and other legal capital.
  4. Roles and responsibilities of committees and local authorities in the scope of social policy credit activities, which are considered regular tasks, should be improved. Vietnam Fatherland Front and socio-political organizations should closely coordinate with VBSP in terms of social policy credit management and improvement. Local models, programs and projects related to socio-economic development and poverty reduction should be built and integrated with social policy credit programs. In order to support the poor and other policy beneficiaries to borrow money from the social policy credit programs, the local budget entrusted to VBSP should be considered and prioritized.
  5. VBSP should maintain the implementation of organizational models and specific management methods of social policy credit programs besides actively implementing the mobilization and the usage of the capital. Information technology should be effectively applied to modernize the bank system. Additionally, the administration and management skills of VBSP Staff should be enhanced. VBSP should strengthen inspection and supervision of social policy credit activities, entrusted activities by socio-political organizations and the situation of borrowers. Related products and services should be developed to support the poor and other policy beneficiaries. VBSP should actively advise relevant ministries and research, propose suitable preferential credit policies for poor people. Training programs for VBSP staff should be increased and improved. VBSP’s development strategies for the period of 2021-2030 should be formulated and submitted to the Government. 
  6. Vietnam Fatherland Front and socio-political organizations should supervise and review social policy credit activities. These organizations should perform tasks entrusted from VBSP and deeply grasp customers' situations. Vietnam Fatherland Front continues to execute and expand its activities related to the poor to support capital for VBSP.
  7. Operated organizations:
  • Committees and local authorities under the Central Committee, Vietnam Fatherland Front, socio-political organizations and VBSP are responsible for leading, directing and organizing the implementation of Directive 40 and this Conclusion.
  • The Central Economic Commission is in charge of coordinating with the Office of the CPV Central Committee and related organizations to supervise, review the implementation of Directive 40 and this Conclusion besides reporting to the Party's Secretariat annually.

This Conclusion is public to the branches.





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