In recent times, the capital of the Vietnam Bank for Social Policies (VBSP) in Da Nang City has been invested in 100% of communes and wards. 100% of the poor and other policy beneficiaries who have needs and meet the conditions have access to social policy credit programs... These results were achieved thanks to the effective implementation of Directive No. 40-CT/TW and Conclusion No. 06-KL/TW of the Central Party Secretariat.
According to Mr. Doan Ngoc Chung, Director of the Vietnam Bank for Social Policies, Da Nang City Branch, in 2023, the Vietnam Bank for Social Policies provided loans to 689 poor, near-poor, and escaped-poverty households to supplement capital for production and business, improve their lives, and escape poverty sustainably; maintain, expand, and create new jobs for 21,169 workers; more than 787 students received loans to cover their study expenses; provided loans to build 1,723 clean water projects and 1,719 environmental sanitation projects in Hoa Vang District (Da Nang).
At the same time, 797 customers borrowed social housing capital, 11 people who completed their prison sentences received loans to reintegrate into the community, 11 people who completed their prison sentences received loans to reintegrate into the community... The effective implementation of policy credit programs has significantly contributed to promoting socio-economic development in the direction of Da Nang, building a "4 safe" city; successfully implementing the national target program on sustainable poverty reduction, building new rural areas, ensuring social security, political stability, and social order.
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| Policy credit has created many jobs for people in rural areas of Hoa Vang. |
To concretize Directive No. 40, Da Nang City has reviewed, revised, supplemented, and completed legal documents or policy mechanisms related to social policy credit.
On that basis, the People's Committee of Da Nang City issued documents supplementing the policy mechanism related to social policy credit such as: Document No. 2638/UBND-SLDTBXH on implementing credit for students from poor households, near-poor households, and households with average living standards according to the city's regulations. Or Document No. 5977/UBND-KT on implementing Decision No. 22/2023/QD-TTg of the Prime Minister on credit for people who have completed their prison sentences.
In 2023, the City People's Committee directed the Department of Finance and the People's Credit Fund of Da Nang City to coordinate with relevant agencies and units to review legal documents and remove contents related to the rehabilitation loan program stipulated in Decision No. 19/2017/QD-UBND; implement Decision No. 22/2023/QD-TTg of the Prime Minister on credit for people who have completed their prison sentences.
In addition, the People's Committee of Da Nang City submitted to the People's Council of the same level for approval and promulgation of Resolution No. 105/2023/NQ-HDND on amending and supplementing a number of articles of Resolution No. 75/2021/NQQ-HDND regulating policies to support poor households, near-poor households, and households escaping poverty in the area.
Accordingly, poor households, near-poor households, and households escaping poverty within 3 years from the time of escaping poverty according to the city's standards are supported to borrow capital with the loan amount, loan interest rate, and loan term as prescribed by the Central credit programs applied to poor households, near-poor households, and households escaping poverty according to the Central standards. Households with an average living standard according to the city's standards are supported to borrow with the loan amount, maximum loan term as the credit program for poor households, the loan interest rate is 120% of the loan interest rate for poor households according to the Central standards prescribed in each period.
At the same time, the People's Committee of Da Nang City has directed departments and branches to coordinate with the Vietnam Bank for Social Policies to continue reviewing the demand for policy credit loans to implement the Program for economic and social recovery and development according to Resolution No. 11/NQ-CP of the Government on implementing solutions to remove difficulties for customers borrowing capital to recover and develop production and business...
At the same time, the city leaders pay deep attention to balancing and allocating capital from the local budget to the Vietnam Bank for Social Policies to supplement capital for lending to the poor and other policy beneficiaries.
Specifically, the People's Committee of Da Nang City and Hoa Vang District have included in the budget expenditure estimate and transferred entrusted capital to the Vietnam Bank for Social Policies to implement the lending program for poor households and other policy beneficiaries. Accumulated to December 31, 2023, the total capital from the local budget entrusted to the Vietnam Bank for Social Policies for lending reached VND 1,940 billion, an increase of VND 249.68 billion compared to 2022.
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| Policy credit programs have had positive effects, contributing to sustainable poverty reduction. |
According to Mr. Ho Ky Minh, Permanent Vice Chairman of the People's Committee of Da Nang City, Head of the Board of Representatives of the People's Bank for Social Policies of Da Nang City, in 2023, Party committees at all levels, local authorities, departments and branches will continue to implement and organize the implementation of Directive No. 40-CT/TW, Conclusion No. 06-KL/TW of the Central Party Secretariat and Decision No. 1630/QD-TTg of the Prime Minister. Since then, there has been an awareness of the economic and political significance of the preferential credit channel, the role and position of social policy credit in implementing the goals of poverty reduction, job creation, new rural construction, and ensuring social security in the area.
Mr. Minh said that authorities at all levels have continued to disseminate and thoroughly grasp the contents of Directive No. 40-CT/TW and Conclusion No. 06-KL/TW of the Secretariat to all Party members, cadres, civil servants and workers, especially those directly performing tasks related to social policy credit, to grasp the spirit and content of the Secretariat's direction on strengthening the Party's leadership over social policy credit.
With the active participation of the entire political system in implementing Directive No. 40, Party committees at all levels have directed local authorities, the Fatherland Front, mass organizations and people to strengthen inspection and supervision of preferential credit programs and the Vietnam Bank for Social Policies.
In addition, direct the improvement of the effectiveness of inspection and supervision activities of the Board of Directors at all levels, regularly inspect and supervise the management and implementation of poverty reduction programs and the activities of the VBSP; direct local authorities to actively participate and closely coordinate with the VBSP in directing, managing and organizing the implementation of policy credit programs, considering policy credit as an effective solution to reduce poverty and ensure local social security...
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| Preferential loans create conditions for many Co Tu households in Hoa Vang district (Da Nang) to escape poverty and have stable income. |
For the Social Policy Bank of Da Nang City, to ensure effective implementation of policy credit programs in the spirit of Directive No. 40, the branch strengthens internal inspection and control.
Thanks to that, credit quality is increasingly improved. Overdue debt and frozen debt in the whole city is 2,308 million VND, accounting for 0.05% of total outstanding debt, no increase or decrease in ratio compared to 2022. Of which, overdue debt is nearly 1.4 billion VND, accounting for 0.03% of total outstanding debt, frozen debt is 926 million VND, accounting for 0.02% of total outstanding debt.
It can be said that Da Nang has effectively implemented social policy credit programs, gradually concretizing and bringing Directive No. 40 into life, contributing to hunger eradication, poverty reduction, ensuring social security and local economic development...
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