VBSP branch in Hoa Binh province supports the poor during the Covid-19 pandemic

(VBSP News) Adjusting repayment term, loan extension or providing new loans to borrowers affected by Covid-19 pandemic are the urgent actions that VBSP branch in Hoa Binh province is implementing to help their customers improve production and business activities.

VBSP promptly disburses credit capital to their customers

Deputy Director of VBSP branch in Hoa Binh province Truong Thi Hang Nga said: “The Covid-19 pandemic seriously affected the lives of people, especially the poor and other disadvantaged groups. Following closely the direction of VBSP General Director, we directed district transaction offices to coordinate with mass organizations of communes, wards and towns to monitor and grasp the level of influence and damage of the customers to provide solutions to support them.

Accordingly, as for borrowers affected by Covid-19 pandemic, leading to difficulties in repaying due principal, VBSP will adjust repayment term, loan extension or provide new loans to help them improve production and business. We also deal with risky debts for borrowers affected by Covid-19 pandemic as prescribed. Regarding customers being treated for the Covid-19 or isolated medically who cannot transact with VBSP and  repay due principal, we also consider adjusting repayment term or loan extension.

Due to the Covid-19 pandemic, VBSP promptly disbursed loans to customers, completing the planned targets and ensured the safety of our officers, workers and customers. In the first quarter of 2020, the branch disbursed more than VND 305.8 billion with 9,139 active borrowers. By the end of March, total outstanding loans were over VND 3,175 billion, reaching 99.8% of the year plan, an increase of VND 50,483 million (up 1.62%) compared to 2019. In particular, the outstanding loans of the local budget transferred to VBSP were 43.4 billion, reaching 131% of the year plan.

In the near future, under the direction of the Prime Minister, VBSP will be tasked to support employers to borrow loans from VBSP at 0% interest rate to pay their employees who have stopped working within 3 month. The estimated loan amount is VND 16,200 billion and the total number of supported workers is 3 million. Therefore, the provincial VBSP branch will follow closely the guidance of the VBSP General Director to promptly disburse loans to beneficiaries to support them to overcome the difficulties due to the Covid-19 pandemic.

vbsp.org.vn