The teleconference on the role and effectiveness of policy credit in the implementation of sustainable poverty reduction targets

Published on 24 - 09 - 2019
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On September 23, the Central Steering Committee of National Target Programs for the period 2016 - 2020 held a teleconference on the role and effectiveness of policy credit in the implementation of sustainable poverty reduction targets. At the Hung Yen destination, the conference drew the attendance of Mr. Dang Ngoc Quynh, Member of the Provincial Standing Committee, Standing Vice Chairman of the provincial People's Committee.

Delegates attended at the conference of Hung Yen destination

According to a report of the Vietnam Bank for Social Policies (VBSP), as of August 31, 2019, the total mobilized capital for implementing the social credit programs in the 2016-2020 period reached over VND 207.7 trillion, increased by 43.59% as compared to December 31, 2015; the total outstanding loans of policy credit programs reached over VND 199.3 trillion, seeing an increase of 40.2% as compared to December 31, 2015, the average annual loan growth reached 9.7%, with nearly 6. 6 million customers with outstanding loans.

Social policy credit capital is invested in production development, creation of livelihoods, employment and meeting the essential needs in the lives of the poor and other policy beneficiaries, focusing mainly on 9 great credit programs. From 2016 to August 31, 2019, nearly 8 million poor households and other policy beneficiaries were granted loans from the Bank for Social Policies, with the amount of over 221.6 trillion VND; helping over 1.4 million households to overcome the poverty line; attracting and creating jobs for over 775 thousand laborers; nearly 200 thousand pupils and students in difficult circumstances are loaned for their study; building nearly 4.9 million works of clean water and rural environmental sanitation; over 108 thousand houses for poor households. Thereby, helping to solve basic and essential problems of life for the poor and other policy beneficiaries; contribute to repelling and preventing the negative impact of black credit on the life of poor, near-poor, newly-escaped households and other policy beneficiaries...

In Hung Yen province, in the period of 2016-2020, social policy credit activities have significantly contributed to the effective implementation of the policy of socialization of poverty reduction. As of June 30, 2019, the total policy credit capital of the province reached over VND 2.7 trillion, seeing an increase of 33.33% as compared to December 31, 2015. From 2016 to June 30, 2019, the loans amount of the province's policy credit programs reached over VND 2.8 trillion with over 108.3 thousand poor households and other policy beneficiaries.

The policy credit has helped over 28.1 thousand households to overcome the poverty line; over 13.8 thousand pupils and students in difficult circumstances can loan to go to school; more than 7.3 thousand workers were created jobs from the National Fund for Employment; contributing to building over 99.6 thousand works of clean water and environmental sanitation, 834 houses for poor households.

Speaking at the Hung Yen destination, Mr. Dang Ngoc Quynh highly appreciated the effectiveness of policy credit in the province's sustainable poverty reduction in recent years. At the same time, in the coming time, the Bank of Social Policy of provinces, districts, towns and cities will continue to pay attention to improving the quality of policy credit in sustainable poverty reduction.

On this occasion, the Minister of Labor, War Invalids and Social Affairs presented the Certificate of Merit; General Director of Social Policy Bank awarded the Certificates of Merit to collectives and individuals with outstanding achievements in the effective implementation of policy credit, contributing to the implementation of sustainable poverty reduction targets in the period of 2016 - 2020.

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