VBSP supports to create jobs for people
(VBSP News) Creating jobs for employees is an important task in poverty reduction, improving the quality of life for people and socio-economic development. Over the past time, Quang Ninh province has implemented many solutions to create jobs for workers. In particular, the Provincial People's Council has many resolutions on the employment program, of which, allocating the entrusted budget capital for VBSP in Quang Ninh province to provide job creation loans for employees.
Poultry raising helps customer Nguyen Thi Ly, Yen Lang 2 area, Yen Tho ward, Dong Trieu town, have stable income
As many other families, in early 2019, customer Nguyen Thi Ly in Yen Lang 2, Yen Tho Ward, Dong Trieu Town, borrowed VND 50 million from the job creation loan program of VBSP in Dong Trieu Town to renovate garden, pond and barn. Thanks to her hard work and diligence in learning techniques for caring ponds, orchards, poultry herds, Ms. Ly earns an income of VND 300 million/year.
She said: “The climatic and soil conditions here are very suitable for implementing economic development models. My family has 4 people in working age, so I borrowed loans from VBSP to plant more fruit trees, improve ponds, raise chickens, ducks. This loan source has simple procedures, preferential interest rates, long loan term, thus promptly meeting the demand for production capital for farmers like us. It helps my family create more jobs, stabilize the family's life and increase income”.
Not only Ms. Ly, credit capital for job creation has really supported in creating jobs for many other workers. In the 2016-2020 period, the total loan for job creation is VND 309.4 billion, of which, VND 290 billion is transferred from provincial and local budgets; 9,346 customers are borrowed loans; total outstanding loans are VND 308.8 billion.
In particular, in the past period, people in the province have faced many difficulties from pandemics, natural disasters, etc. In order to help them face with those difficulties, stabilize production, ensure income, the province also allocates capital in time for the implementation of the job creation loan program. Particularly in July 2020, the Provincial People's Committee allocated VND 60 billion from regular expenditure savings in 2020 for VBSP to support households affected by African swine fever virus, Covid-19 pandemic. Accordingly, VBSP quickly disbursed to 835 households with a total amount of VND 40 billion in 1 month. The loan has become the "lifesaver" for people in difficult times, contributing to ensuring social security.
Customer Nguyen Van Chung in Village 1, Nguyen Hue Commune, Dong Trieu Town, said: “In 2019, African swine fever caused a loss of more than VND 200 million for my family. Fortunately, I got a loan of VND 50 million from the VBSP. My family raised 2 pairs of breeding pigs and 10 pigs, creating stable jobs for 4 laborers. The policy credit is really the salvation for us”.
It is known that in 2021, the province allocated VND 80 billion for VBSP in Quang Ninh province to implement the policy credit program for job creation lending. This capital source will certainly continue to be a great support to create more jobs to help people escape from poverty, contributing to promoting the local socio-economy.
- Households in disadvantaged areas can borrow up to VND 100 million for business and production.
- VBSP's Trade Union worked with the Korean Finance Union delegation
- Promotion of digital financial services to enable financial inclusion for the disadvantaged population in Vietnam
- Nearly 485,000 households provided with social policy bank loans in Q1
- Newsletter Vol 4.2023
- VBSP SmartBanking launched for the poor and low-income
- The exposure visit of the Nepal delegation of ASDP in Vietnam
- Improve policy credit quality through the model of Savings and Credit groups
- Provide inclusive financial schemes for the poor and disadvantaged groups
- Contribution to the implementation of the National Target Program on new rural construction and sustainable poverty reduction in the 2021-2025 period
- VBSP supports people to escape from poverty
- Annual Report 2019
- Over 6.4 million poor households access VBSP’s loans
- Newsletter Vol 04.2021
- Promoting the efficiency of job creation scheme budget
- Khmer woman prospers thanks to pomelo business
- VBSP’s loans enable Ben Tre's rural households to escape from poverty
- VBSP's wish on the International Women's Day
- The Final Diagnostic Report on VBSP
- Review of VBSP by World Bank
- Policy Bank of Lao PDR visited Vietnam Bank for Social Policies
- VBSP works with Nepal's Ministry of Agriculture and Livestock Development
- Policy credit provides fulcrum to elevate ambitions
- VBSP DIGITAL TRANSFORMATION
- Policy credit supporting ex-prisoners in their new lives
- Policy credit contributes to enhancing social wellbeing
- VBSP Board of Directors held the regular meeting of quarter II, 2023
- VBSP Lang Son lending helping hand to people in need
- Credit access the key to reducing poverty
- VBSP works with organizations from Bangladesh
LENDING INTEREST RATE
DEPOSIT INTEREST RATE