21 million households received preferential loans.

This afternoon, August 14th, Prime Minister Pham Minh Chinh chaired a nationwide online conference to summarize 10 years of implementing Directive No. 40-CT/TW, dated November 22, 2014, of the XI Party Central Committee on strengthening the Party's leadership over social policy credit. Mr. Hoang Nam, Vice Chairman of the Provincial People's Committee and Head of the Board of Directors of the Social Policy Bank of Quang Tri province, attended the conference at the Quang Tri provincial branch.

Delegates attending the conference at the Quang Tri province venue - Photo: HT

Reporting at the conference, General Director of the Vietnam Bank for Social Policies, Duong Quyet Thang, stated that after 10 years of implementing Directive No. 40 and 3 years of implementing Conclusion No. 06 of the Party Central Committee, policy credit capital has grown remarkably, with a stable growth rate over the years, each year higher than the previous one.

By the end of July 2024, the total policy credit capital reached VND 373,010 billion, an increase of VND 238,338 billion, nearly 2.8 times higher than when Directive No. 40 was first implemented, with an average annual growth rate of 10.8%.

The capital has contributed to providing preferential loans to over 21 million households, with a total loan volume of 733,152 billion VND, for production and business development; simultaneously helping more than 3.1 million households overcome poverty; enabling over 4.2 million workers to borrow capital to create jobs; constructing over 13.2 million projects providing clean water, sanitation, and environmental services to people in rural areas; providing loans to over 610,000 students to cover their study expenses; building over 193,000 houses for the poor and policy beneficiaries; and enabling over 1.2 million workers to receive loans from businesses to pay salaries due to the impact of COVID-19...

With its unique organizational model and credit management methods involving the entire political system, the persistent and synchronized implementation of solutions has contributed to maintaining, strengthening, and improving the quality of social policy credit. The ratio of overdue and non-performing loans decreased from 0.93% of total outstanding loans to 0.56% of total outstanding loans, with overdue loans accounting for 0.22% of total outstanding loans.

The conference heard presentations and contributions from delegates on the practical implementation of Directive No. 40; and proposed solutions for implementation in the new phase and context. It also affirmed that Directive No. 40 is a correct, appropriate, practical, and groundbreaking policy in directing and organizing the implementation of social policy credit aimed at providing livelihoods, creating jobs, improving people's lives, contributing to preventing usurious lending, ensuring security, order, and social safety, and achieving the goal of promoting sustainable economic growth.

Delivering a keynote address at the conference, Prime Minister Pham Minh Chinh affirmed that the consistent and overarching policy of the Party and State in the process of national development is to develop the economy while simultaneously achieving social justice and progress, ensuring that no one is left behind.

Therefore, with the involvement of the entire political system, the implementation of Directive No. 40 over the past 10 years has achieved many impressive results, becoming a bright spot and a pillar in the system of poverty reduction policies, ensuring social security, and meeting the aspirations of the people, especially the poor and vulnerable groups in society.

The Prime Minister requested that in the coming period, Party committees and local authorities continue to thoroughly understand and more effectively implement the Party's guidelines and viewpoints on social policies; and promptly finalize the decree on the organization and operation of the Social Policy Bank. Central ministries and agencies should continue to review and refine regulations to concentrate resources and improve the capital structure for the Social Policy Bank in a stable and sustainable manner.

Proactively report to and advise the National Assembly, the Government, and the Prime Minister on balancing and allocating sufficient charter capital, interest rates, management fees, and funds for implementing newly issued credit policies. Local authorities should prioritize and allocate local budgets to be entrusted to the Social Policy Bank. The Social Policy Bank system should focus on prioritizing capital allocation to ethnic minorities, mountainous areas, areas with special difficulties, border and island regions, and remote areas.

Promote the application of information technology, digital transformation, and modernization of banking. Enhance management capacity, professional expertise, and professional ethics. Build a team of reputable staff with advanced, modern, dedicated, and people-oriented work styles.

Ha Trang

Source: https://baoquangtri.vn/21-trieu-ho-dan-duoc-vay-von-uu-dai-187618.htm