VBSP’s financial services contribute to fighting against black credit

(VBSP News) In order to contribute to the goal of poverty reduction, over the past years, VBSP branch in Kon Tum province has proposed many solutions to help the poor and last-mile populations access VBSP’s credit programs. By these efforts, the loans from VBSP have really helped their customers improve production and business activities.

Cows of a VBSP customer from Doan Ket commune, Kon Tum city

Mr. Nguyen Van Chung – VBSP Deputy Director in Kon Tum province shared that VBSP played an important role in changing the lives of many local residents and supporting socio-economic development of the province.

In 2019, the total assets of the VBSP branch reached VND 2,688 billion, an increase of VND 37 billion compared to 2018; total outstanding loans were VND 2,684 billion, reaching 99.3% of the growth plan, with 64,987 active borrowers. Overdue and frozen debts were VND 7.7 billion, accounting for 0.28% of the total outstanding loans.

In 2020, the VBSP branch aims to increase outstanding loans of 2% or more for 5 credit programs, which are poor households, near-poor households and newly escaped from poverty households program; rural safe water and sanitation program; business and production households in disadvantaged areas program; social housing program and housing for the poor, ensuring that 100% of the poor and other vulnerable groups can access loans from VBSP.

As of February 2020, VND 92,033 billion from local budget has been transferred to VBSP to lend to the poor and other vulnerable groups to develop production and business, increase income and create jobs, contribute to preventing black credit in the province.

Mr. Le Ngoc Tuan - Vice Chairman of the Provincial People's Committee, Head of VBSP Representative Board said that VBSP actively advised the Provincial People's Committee to strengthen the leadership and direction in improving the quality of policy credit and solving the problems of overdue debts in recent years. The credit programs have been promptly implemented, helping the poor and last-mile populations get loans for production and business development, contributing to improving their quality of life and preventing black credit.

baokontum.com.vn