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Updated: 2019-10-29 15:26:09

VBSP met and worked with the BIRD Senior Officials Delegation

(VBSP News) In the morning of October 21, in Hanoi, VBSP's General Director – Mr. Duong Quyet Thang had a meeting to welcome Mr. Shri Avinash C Srivastava from NABARD (leader of delegation) and members from GIZ, State Bank of India, Governmental and Non-Governmental Organizations of India (BIRD).

VBSP’s General Director – Mr. Duong Quyet Thang speaks at the meeting

At the meeting, General Director – Mr. Duong Quyet Thang sent his best wishes to the delegation during the visit to Vietnam.

As a governmental credit institution and operating for non-profit purposes, VBSP is the largest provider of financial inclusion for poor households and policy beneficiaries in Vietnam. So far, VBSP has established suitable organizational model and credit method to the specific characteristics of political institutions in Vietnam. VBSP has also established nearly 200,000 savings and credit groups at nearly 11,000 commune transaction points. With the mode of operation at customer’s house while disbursement and debt collection in the commune to reduce costs for poor households and policy beneficiaries. Up to now, VBSP’s total outstanding loan has reached more than VND 200 trillion with over 6.5 million active borrowers. VBSP is highly appreciated by the National Assembly of Vietnam and international organizations thanks to contributing to the success of poverty reduction in recent years in Vietnam.

VBSP's General Director – Mr. Duong Quyet Thang hoped that VBSP and BIRD would continue to have a stronger relationship in the coming time.

Mr. Shri Avinash C Srivastava thanks for the warm welcome of VBSP

Mr. Shri Avinash C Srivastava thanked for the warm welcome of VBSP and congratulated on VBSP’s achievements. The visit to VBSP is an opportunity for BIRD officials to study and exchange experiences to better perform in the furture. He said that VBSP lending to poor households and policy beneficiaries is very effective, which is a lesson for microfinance institutions in many countries in the world, including India to study.

Landscape of the meeting

In addition, the delegation had a field visit to Research Institute of Aquaculture in Bac Ninh province to learn about the policies for promotion of Aquaculture.

 

The delegation is introduced on the farming model in Research Institute of Aquaculture

The delegation also learned about System of Rice Intensification (SRI) techniques and its extensive propagation at national level in Ninh Binh province where had gained the success when adopted the SRI method. They also had a meeting with Department of Agriculture and Rural Development and local VBSP authorities on local policies, economic environment and got the experiences on management of production of agriculture and allied value chain in Vietnam.

The delegation has a meeting at Department of Agriculture and Rural Development in Ninh Binh province

 

The delegation visits a goat model

Considering the large coastal areas and abundance of bonds, rivers, lakes, etc., Vietnam has a high potential for aquacutural development nad making improvements in farmers livelihood in rural areas as also to boost the export, an exposure visit was conducted in Quang Ninh province for the delegation to study sustainable aquaculture farming models. 

 

The meeting in VBSP in Quang Ninh province

Besides, the delegation also had a meeting with local VBSP authorities on implementation of preferential formal credit programs.

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LENDING INTEREST RATE

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

Students

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
Others...

DEPOSIT INTEREST RATE

Term Deposit Rate
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1 week 3,23%/year
2 week 3,5%/year
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