The Ministry of Planning and Investment awarded the Certificate of Merit to VBSP

(VBSP News) On February 23, 2021, under the authorization of the Minister of Planning and Investment (MPI), Deputy Minister Tran Quoc Phuong awarded the Certificate of Merit to VBSP, VBSP’s General Director Duong Quyet Thang and VBSP’s Director of Capital Planning Department Nguyen Minh Phuong.

Deputy Minister Tran Quoc Phuong spoke

Speaking at the ceremony, Deputy Minister Tran Quoc Phuong said that MPI always received close coordination from VBSP and got many achievements in the centralized implementation of policy credit capital from the state budget into VBSP, prioritizing to balance the state budget capital to implement social policy credit programs and ensure stable and sustainable operation of VBSP.

Specifically, MPI has reported to the Government and submitted to the National Assembly for promulgation resolutions on medium-term public investment plans for the 2016-2020 period, resolutions on annual public investment plans, of which there is the state budget capital allocated to the VBSP for social policy credit to the poor and other last-mile populations include: charter capital, credit management fee from state budget and fees and funding for implementing some credit programs for VBSP.

In recent years, in the difficult condition of the state budget, MPI and other ministries paid attention, advised and submitted to the Government and the Prime Minister to give priority to allocating resources in a timely manner to meet the borrowing needs of the poor and other disadvantaged groups, improving the financial capacity of VBSP to implement policy credit programs.

VBSP actively coordinated with MPI and other relevant ministries in proposing solutions to focus on mobilizing financial resources, promptly responding to the need for loans of the poor and other disadvantaged groups, contributing to mobilizing capital sources and creating suitable preferential credit conditions to provide loans to the target customers, advising and submitting to the Government, the Prime Minister for approval, and promulgating the policies related to social policy credit activities such as: lending to households newly escaped from poverty, housing for the poor; disadvantaged students program, the clean water and rural sanitation program; advising the interest rate for social housing program; supporting policies in the prevention of Covid-19 pandemic.

Deputy Minister Tran Quoc Phuong awarded Certificate of Merit to VBSP

Thanks to that, VBSP has organized, implemented and completed the plan of outstanding loans growth for policy credit programs assigned annually by the Prime Minister, contributing to the effective implementation of the National Target Program on sustainable poverty reduction in the 2016-2020 period.

Policy credit capital is focused on lending to poor households, near-poor households and other policy beneficiaries, of which over 90% of policy credit balances are invested in agriculture, farmers, and agriculture, education and training. VBSP has also focused on prioritizing loans for poor households who are ethnic minorities, lending to communes in remote and extremely difficult areas, creating conditions for the poor and other disadvantaged groups have capital for production, business, and life improvement.

Policy credit programs are being implemented for many people with diverse goals, creating a breakthrough in improving living conditions, education, environment and employment for the poor, contributing to successful implementation national target program on sustainable poverty reduction and new rural construction.

The effective implementation of policy credit programs contributes significantly to promoting socio-economic development, political stability, national defense and security. At the same time, developing human resources, minimizing the impacts of climate change, gathering forces, developing membership of mass organizations, contributing to reducing the rate of poor households in 2011- 2015 from 14.2% to 4.25%, the rate of poor households according to the multidimensional poverty line has decreased from 9.88% (in 2015) to 5.23% (in 2018), 3.75% (in 2019) and about 2.75% (by 2020).

Deputy Minister Tran Quoc Phuong awarded Certificate of Merit to VBSP’s General Director Duong Quyet Thang (left) and VBSP’s Director of Capital Planning Department Nguyen Minh Phuong

Speaking at the ceremony, VBSP's General Director Duong Quyet Thang said that in order to achieve many positive results in recent years, especially in the period 2011-2020, VBSP has received the attention and coordination of Ministries in the implementation of social policy credit, especially the attention and close and effective coordination between MPI and VBSP. At the same time, he expressed joy, honor and thankful for the attention and close coordination of MPI in the implementation of major policies of the Party and State on sustainable poverty reduction and new rural construction.

mpi.gov.vn