Directive 40-CT/TW: Promoting the effectiveness of policy credit

Leaders of the Provincial Social Policy Bank and officials of Kien Thiet commune (Yen Son) inspected the use of capital according to Directive 40.

Timely capital support

Party committees, authorities, departments, agencies, units and socio- political organizations at all levels have closely coordinated with the Vietnam Bank for Social Policies in implementing policy credit programs; consolidating and improving credit quality and the quality of operations of Savings and Loan Groups. At the same time, effectively implementing policy credit programs, through integrating credit activities with programs and policies for agricultural and rural development, education development, vocational training, job creation and new rural construction.

According to statistics from the Social Policy Bank, after 10 years of implementing Directive No. 40-CT/TW and Conclusion No. 06-KL/TW of the Secretariat, policy credit capital has been invested in 100% of communes, wards, towns, 100% of villages, hamlets, and neighborhoods in the area. The provincial Social Policy Bank has disbursed loans to 227,103 poor households and policy beneficiaries with a total amount of VND 8,525 billion.

Ms. Nguyen Thi Hoa (left) in Huc village, Phuc Thinh commune (Chiem Hoa) borrowed 50 million VND in job creation capital from the Social Policy Bank to raise turtledoves, bringing economic efficiency.

The capital has helped 72,350 households overcome the poverty line; helped 1,026 students in difficult circumstances get loans to study, buy computers, and online learning equipment; 23,175 workers were created jobs from the National Employment Fund; 454 workers got loans to work abroad for a limited period; built 101,859 clean water, sanitation and environmental works, 3,857 houses for poor households and policy beneficiaries...

Mr. Vu The Anh, Deputy Director of the Bank for Social Policies, Tuyen Quang Branch, affirmed: Socio-political organizations at all levels have performed well in receiving trust, outstanding loans entrusted through socio-political organizations increased 2.7 times after 10 years of implementing Directive No. 40-CT/TW, increased by VND 2,735 billion, reaching VND 4,323 billion, accounting for 99.39% of total outstanding loans, with 80,052 customers still having outstanding loans through 2,374 Savings and Loan Groups.

Improve credit quality

The provincial Social Policy Bank operates with a network of 138 transaction points in communes, handling most of the arising economic transactions, contributing to increasing access to preferential credit services of the Government for the poor and other policy subjects.

This activity is carried out democratically and publicly with the method of "service at home, disbursement, debt collection at the commune", contributing to strengthening the supervision and direction of local authorities, socio-political organizations, and the community in implementing social policy credit activities, ensuring publicity and reducing transaction costs for borrowers when loan applications are provided free of charge and disbursed, debt collected, and interest collected at the commune.

The family of Mr. Trieu Van Kien, Dao ethnic group, Dong Phai village, Hop Hoa commune (Son Duong) received a loan of 40 million VND from the Social Policy Bank to build a new house.

The Commune Transaction Point model is a step forward in administrative procedure reform and a unique feature of the Vietnam Bank for Social Policies, which has been promoting positive effects in the transfer of policy credit capital in the area.

The management of policy credit capital with the participation of village, hamlet and residential group heads in coordination with Associations, socio-political organizations and relevant parties to disseminate and implement preferential credit policies; participating in monitoring, witnessing and confirming all the contents of the Savings and Loan Group meetings has contributed to ensuring publicity, democracy and compliance with regulations.

Kien Thiet Commune is one of the particularly difficult communes of Yen Son District. In recent years, thanks to policy capital, many people, especially the Mong people, have risen out of poverty. Vice Chairman of Kien Thiet Commune People's Committee Luc Chi Hieu said that the whole commune currently has a debt balance of more than 45.7 billion VND from the Social Policy Bank with more than 500 households borrowing capital. Households have invested in developing over 389 hectares of various fruit trees, invested in caring for 1,500 hectares of production forests...

With the achieved results, in the coming time, the Social Policy Bank will continue to coordinate with local Party committees and authorities to deploy policy capital according to Directive 40 to contribute to the successful implementation of the province's socio-economic development goals.

Source: https://baotuyenquang.com.vn/chi-thi-40-ct-tw-phat-huy-hieu-qua-tin-dung-chinh-sach-195480.html