Boosting savings deposits will create additional capital for implementing policy-based credit programs.

BTO - This was one of the points emphasized by Vice Chairman of the Provincial People's Committee Nguyen Minh, Head of the Board of Directors' Representative Committee of the Social Policy Bank (NHCSXH), at the meeting to evaluate the results of the first quarter and the tasks for the second quarter of 2024, held on the morning of April 10th.

According to Ms. Vo Thi Minh Thao, Director of the Vietnam Bank for Social Policies (VBSP) in the province, in the first quarter, the VBSP disbursed loans to over 13,200 poor households and other policy beneficiaries, with a loan volume of 374 billion VND, an increase of 21% compared to the same period last year; the debt collection volume in the quarter reached 233 billion VND, an increase of 43%.

As of March 31, 2024, the results of implementing 21 policy credit programs show a total outstanding loan balance of VND 4,810 billion, with nearly 115,000 poor households, near-poor households, and policy beneficiaries still having outstanding loans, an increase of VND 141 billion compared to the beginning of the year. Entrustment activities through socio- political organizations continued to be implemented effectively; as of March 31, 2024, 4 socio-political organizations are currently managing 2,334 groups with an outstanding entrusted loan balance of VND 4,803 billion/114,700 households...

Ms. Vo Thi Minh Thao, Director of the Social Policy Bank of the province, reported at the meeting.

In addition, the Provincial Social Policy Bank proactively signed a Coordination Regulation with the Provincial Police to implement coordinated work on tasks related to social policy credit, and to implement the loan policy for people who have completed their prison sentences according to Decision No. 22 of the Prime Minister .

Overview of the meeting

At the meeting, delegates offered suggestions on coordinating capital management; reviewing fund sources to be deposited into the Social Policy Bank, in order to ensure sufficient capital to meet the assigned credit growth targets…

Speaking at the meeting, Vice Chairman of the Provincial People's Committee Nguyen Minh highly appreciated the Provincial Social Policy Bank's proactive and innovative approach in carrying out its assigned tasks. To complete the tasks set for the second quarter and the remaining months of 2024, the Vice Chairman of the Provincial People's Committee requested the Provincial Social Policy Bank to closely follow the directives of the General Director of the Social Policy Bank, the Standing Committee of the Provincial Party Committee, the Provincial People's Committee, and the Resolution of the Board of Representatives of the Provincial Social Policy Bank; and to proactively coordinate with relevant departments, agencies, and socio-political organizations to effectively implement the assigned plan and tasks.

The focus is on advising the Provincial Party Committee and the Provincial People's Committee to organize a conference summarizing 10 years of implementing Directive No. 40 dated November 22, 2014, of the Party Central Committee on strengthening the Party's leadership over social policy credit. Continue to coordinate with relevant departments and agencies to advise the Provincial People's Committee on regulations regarding the conditions, content, and levels of preferential loans to implement each preferential loan support policy as prescribed. Focus on implementing solutions to consolidate and improve the quality of credit...

Vice Chairman of the Provincial People's Committee Nguyen Minh delivered a speech at the meeting.

The Department of Finance and the Department of Planning and Investment are tasked with advising the Provincial People's Committee to supplement local budget funds entrusted to the Social Policy Bank for lending to the poor and other policy beneficiaries in Binh Thuan province in 2024.

Emphasizing the importance of capital mobilization, the Vice Chairman of the Provincial People's Committee requested that departments, agencies, and units continue to review the funds, programs, and projects they currently manage. If these funds do not violate guidelines, requirements, and regulations, they should be deposited into the Social Policy Bank to create additional capital for implementing social policy credit programs. This will help to effectively implement the "Mobilizing Savings for the Poor " Plan for 2024, recently issued by the Chairman of the Provincial People's Committee, in order to promptly meet the capital needs for disbursing social policy credit programs…

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