Proposal to lend 6,000 billion VND of old capital in a new way

This morning (June 24), at the 9th Session of the 15th National Assembly, Minister of Finance Nguyen Van Thang, authorized by the Prime Minister, presented a Report on handling debt collection sources of policy credit programs funded by the state budget that have expired at the Vietnam Bank for Social Policies.

Accordingly, the proposal allows the Vietnam Bank for Social Policies (VBSP) to continue using all the state budget capital allocated for the completed policy credit programs to provide loans to other policy credit programs. The total capital proposed to be reused is VND 6,068,961 billion, of which VND 3,144,499 billion has been recovered as of April 30, 2025, and VND 2,924,462 billion is continuing to be recovered under the credit contract.

Minister of Finance Nguyen Van Thang - Photo: National Assembly Media

Nearly 1.1 million households access preferential loans

Specifically, from 2008 to 2017, the State budget provided the VBSP with capital to implement policy credit programs to support poor households, near-poor households, ethnic minorities and other vulnerable groups. These programs have brought about many positive results, helping nearly 1.1 million households access preferential loans, build more than 700,000 social housing units, support nearly 400,000 ethnic minorities and more than 11,000 exported workers from poor districts.

However, the above programs have now ended their implementation period as prescribed, and according to the State Budget Law, expired state budget funds must be returned to the budget. Meanwhile, the demand for loans for current policy credit programs is still very large, estimated at about VND 31,727 billion by the end of 2025, but the capital allocated from the state budget has only met a part.

Typically, the socio -economic development program for ethnic minority areas (according to Decree 28/2022/ND-CP) and the social housing loan program (according to Decree 100/2024/ND-CP) are seriously lacking in resources.

On that basis, the Government proposes that the National Assembly allow the reuse of all the capital that has been and is being recovered to continue lending to the right subjects and targets. At the same time, the Government will assign the Prime Minister to consider and decide on the specific allocation level for each program, giving priority to ethnic minority areas, ensuring the effective use of capital.

After reviewing, the Economic and Financial Committee agreed with the reuse of recovered capital and assessed that the Government's proposal was consistent with the major policies of the Party and State, especially the spirit of Directives No. 39-CT/TW and 34-CT/TW of the Secretariat on enhancing the effectiveness of policy credit and social housing development. The reuse of recovered capital will help reduce administrative procedures, shorten implementation time, effectively utilize available resources, and promptly meet the urgent need for policy credit capital.

Mr. Phan Van Mai, Chairman of the Economic and Financial Committee, said that legally, according to the State Budget Law, only the National Assembly has the authority to decide on the continued use of state budget funds that have expired. Therefore, the Government's submission to the National Assembly for approval is within its authority and in accordance with legal regulations.

Proposal to use more than 6 trillion VND to lend new policy credit programs

Regarding the specific plan, the Committee agreed with the proposal to allow the VBSP to use the entire VND 6,068.961 billion to lend to new TDCS programs. At the same time, the Committee requested the Government to review all data, take responsibility for the accuracy of revenue and expenditure, and direct the VBSP to manage and use capital in accordance with regulations and effectively, without allowing any profiteering, loss or waste.

On that basis, the Economic and Financial Committee proposed that the National Assembly add this content to the Joint Resolution of the 9th Session of the 15th National Assembly, allowing the VBSP to continue using all the money recovered from the completed TDCS programs to serve lending to policy credit programs in the coming period. This is a reasonable temporary solution in the context of limited budget resources, while the need for credit access of the people - especially in remote, isolated and ethnic minority areas - is still very large.

The National Assembly's approval of this policy not only helps promptly resolve difficulties for the VBSP, but also contributes to the effective implementation of social security policies, ensuring the goal of leaving no one behind in the country's socio-economic development process.

Van Hong (VOV.VN)

Link: https://vov.vn/chinh-tri/quoc-hoi/de-xuat-6000-ty-dong-von-cu-cho-vay-theo-cach-moi-post1209514.vov

Source: https://vtcnews.vn/de-xuat-6-000-ty-dong-von-cu-cho-vay-theo-cach-moi-ar950624.html