The proposal on supporting 6 target groups affected by Covid-19 pandemic

(VBSP News) There will be six groups of people who are most affected by the COVID-19 pandemic receiving the support from the Goverment.

VBSP is actively proposing solutions to support the poor and other disadvantaged groups in response to Covid-19 pandemic 

The first group: Social policy beneficiaries and people with meritorious services to the revolution who are receiving monthly allowances will be given an additional VND 500,000 (USD 21.8) each month in April, May, and June.

The second group: The poor and near-poor households will receive VND 1 million each month in April, May, and June.

The third group: Businesses who have financial difficulties can borrow non-collateral loans equal to maximally 50% of regional minimum salary with zero interest rate atVBSP to pay their employees. Loans will be provided monthly based on the actual situation. 

The forth group: Workers who were laid off or put on leave without pay from at least 14 working days due to the direct impacts of the COVID-19 pandemic will be provided VND 1.8 million VND (USD 76) a person a month. Loans will be provided monthly based on the actual situation.

The fifth group: Workers who either lost their jobs, don’t have a labor contract or had their contracts terminated when their social insurance contribution period is not sufficient for unemployment benefit payout will be provided VND 1 million/person/month. Loans will be provided monthly based on the actual situation.

The last group: Individual business households with yearly revenues below VND 100 million who have to temporarily close down as part of the Government’s stay-at-home order and social distancing measures will be given VND 1 million a month. Loans will be provided monthly based on the actual situation.

The above supporting policies are implemented for a maximum of 3 months. Those eligible for more than two types of support will only be able to receive the highest value support. There will also be policies in place to help simplify the process of claiming unemployment support for workers. Employers and employees will also temporarily be exempt from their obligatory contributions to the retirement and survivors’ fund (part of the Government-sponsored insurance program).

The government is expected to spend about VND 62,000 billion ($2.6 billion), supporting about 20 million people.

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