VBSP’s inclusive finance results in 2021 and implementation plan in 2022
(VBSP News) On January 12, 2022, VBSP held a nationwide online conference to deploy the 2022 mission. Mr. Duong Quyet Thang, Member of the BOD and VBSP's General Director has chaired the meeting.
General Director Duong Quyet Thang speaking at the conference
Attending the online conference were the Chief of Supervision Board; the Deputy General Directors; Chief Accountant; President, Vice Presidents of Trade Union; Chief of Office, Deputy Chiefs of Office; Directors, Deputy Directors of functional departments at the Head Office, Internal Control Board of the South region; Director of training institutions in the South; Training Center, Information Technology Center, Transaction Office and 63 VBSP branches in provinces and cities.
Speaking at the Conference, General Director Duong Quyet Thang said in 2021, many provinces and cities in Vietnam have to implement social distancing for a long time due to the complicated situation of the COVID-19 pandemic, making VBSP's policy credit activities difficult, especially commune transaction activities. However, thanks to the leadership of the Party, the National Assembly and the Government; the support of the Ministries, departments, local authorities; the drastic and close direction of the Executive Board and the efforts of all officers and employees in the whole system, VBSP has successfully completed the assigned political plans and tasks.
Deputy General Director Bui Quang Vinh presented the report on VBSP activities in 2021, orientation and tasks in 2022
By December 31, 2021, the total credit capital for social policies reached VND 256,324 billion, an increase of VND 22,779 billion compared to the end of 2020; in which, the entrusted capital from the locality reached VND 24,702 billion. With a nationwide network, commune transaction activities continue to be stable, effective and safe, VBSP has disbursed over VND 80 trillion for more than 2 million loans of households. Total outstanding loans reached VND 247,970 billion, up 9.6% compared to the end of 2020, of which, outstanding loans of credit programs under the growth plan assigned by the Prime Minister reached VND 209,875 billion, an increase of VND 209,875 billion, up 8% compared to the end of 2020, completing 100% of the plan, with nearly 6.4 million active customers. Associated with the growth of outstanding loans, the improvement of credit quality is focused to implement. As of December 31, 2021, the ratio of overdue debt and frozen debt accounts for 0.7% of total outstanding loans.
Landscape of the conference at the Head Office
The social policy credit capital in 2021 has supported production and business investment capital, created jobs for more than 608.7 thousand employees, helped more than 2.2 thousand workers work abroad for definite term; 37.5 thousand disadvantaged students borrow loan to continue studying; 11,357 businesses borrow loans to restore production and business and pay salaries for more than 379,000 workers affected by the COVID-19 pandemic; built over 1.4 million clean water and sanitation facilities for rural households, more than 1.1 thousand houses for poor households to stabilize their lives and nearly 6.2 thousand social houses for low-income households.
Regarding the key tasks in 2022, the General Director requested to constantly carry out the Covid-19 pandemic prevention and control to ensure effective and safe operation of the whole system; constantly implement synchronous solutions to consolidate and improve credit quality in the whole system; focus on the implementation of the credit plans assigned by the Prime Minister from the beginning of the year, the preferential policy credit package in the Government's 2022-2023 socio-economic recovery and development program and credit policies to implement 03 national target programs on sustainable poverty reduction, new rural construction and socio-economic development in ethnic minority areas in the 2021-2025 period; strengthen internal control and audit, improve the quality of debt management and handling throughout the system; monitor the situation of natural disasters occurring in the localities, the damage caused by the impact of the COVID-19 pandemic to promptly support the poor and other policy beneficiaries to stabilize their lives and production and business.
Online conference at local bridge points
At the conference, the VBSP Emulation - Commendation Council also announced the commendation decisions of the President, Prime Minister, and General Director of VBSP for collectives and individuals that have successfully completed their tasks and launch emulation in 2022.
- 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
- Poverty rate drops in Bac Lieu province with help from VBSP’s loans
- Policies on supporting tourism development in Lao Cai province in the period of 2021-2025
- Annual Report 2020
- Overcoming difficulties to escape from poverty
- VBSP in Dong Nai province supports businesses to pay salaries for their employees
- Supporting pandemic-hit poor households with VBSP’s loans
- Policy credit: the fulcrum to support the poor
- Policy credit drives growth across Vietnam
- Support people to reproduce after the Covid-19 pandemic
- Policy credit aids the fight against COVID-19
- Creating jobs in Kien Giang province
- Creating livelihoods for the poor
- About 2,500 households in Binh Phuoc province tried to escape poverty
- Escaping poverty thanks to policy credit
- Hunger eradication and poverty reduction in Hoa Binh province
- Policy credit accompanied with economic development
- Effective uses of preferential credit in Phu Yen Province
- Part III - Continue to improve the quality of policy credit
- Part II "Life changed" thanks to policy credit
- Effectiveness of policy credit in Bac Kan (Part I – Accompanying with the poor and other policy beneficiaries).
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