Hanoi allocates 6,000 billion VND entrusted through the Social Policy Bank

Resolving loan procedures for people at the Transaction Office of the Social Policy Bank of Ba Vi district. Photo: HNM

The Hanoi People's Committee has just issued Plan No. 94/KH-UBND on implementing Plan No. 299-KH/TU dated February 20, 2025 of the Hanoi Party Committee on implementing Directive No. 39-CT/TW dated October 30, 2024 of the Secretariat "on improving the effectiveness of social policy credit in the new period".

Accordingly, the plan identifies 5 groups of key tasks and solutions; including promoting propaganda and raising awareness of the role of social policy credit. Propaganda will be widely deployed on mass media, iHaNoi application and the city's communication system with coordination between press agencies and entrusted socio-political organizations.

Identifying social policy credit as one of the key and regular tasks in developing and implementing the Socio -Economic Development Plan of each locality annually, for a 5-year period, and the Socio-Economic Development Strategy of the City to 2030, with a vision to 2050.

“The city determines to focus resources on social policy credit. In particular, ensuring that the capital entrusted through the City Social Policy Bank Branch to implement social policy credit is arranged in the City's medium-term and annual public investment plan, increasingly better meeting the borrowing needs of beneficiaries in the area, especially specific subjects specified in the Resolution of the City People's Council; vulnerable groups of society; unemployed/unemployed workers, especially workers who lost their jobs after the separation and merger of administrative boundaries, streamlining the management apparatus in the area; beneficiaries of credit programs for people who have completed their prison sentences, students, clean water and environmental sanitation, social housing…” - the plan clearly stated.

Hanoi City identifies resource concentration as a key task. In which, it proactively advises on solutions for social policy credit associated with the arrangement of the City budget for implementation in the City's Programs and Plans on economic development, ensuring social security annually and in the 5-year period in accordance with the actual context of each period.

In the period of 2025-2030, focus on allocating capital from the City budget entrusted through the City Branch of the Vietnam Bank for Social Policies, about 6,000 billion VND to lend to meet the needs of beneficiaries in the area.

In which, the Department of Finance takes the lead in advising on the implementation of the content of the City budget arrangement to transfer additional entrusted capital through the City Branch of the Vietnam Bank for Social Policies annually and for a period of 5 years.

The Department of Home Affairs is in charge of advising on the implementation of contents on reviewing the loan needs of beneficiaries in the area.

Department of Agriculture and Environment, City Police, Department of Construction, City Branch of the Bank for Social Policies and relevant Departments, branches and agencies according to their assigned functions and tasks shall advise on contents related to policy mechanisms, develop solutions on social policy credit for beneficiaries in the City's Programs and Plans.

To effectively implement the policy, Hanoi continues to improve the mechanism and policies on social policy credit; improve the efficiency of operations at commune-level transaction points; enhance digitalization and application of information technology in capital management and disbursement. The Bank for Social Policies will coordinate with departments, branches, People's Committees at all levels and entrusted organizations to ensure that policy credit activities are increasingly effective, timely, safe and transparent.

The synchronous implementation of the above solutions not only contributes to the realization of social security goals but also acts as a driving force to promote sustainable socio-economic development, ensuring social progress and equity, putting people at the center of all development policies of the city.

The City requests relevant departments, branches, and agencies of the City; People's Committees at all levels to coordinate with the VBSP Branch to support facilities and create favorable conditions for the VBSP to carry out assigned political tasks to better serve the poor and other policy beneficiaries in the City.

Source: https://thoibaonganhang.vn/ha-noi-bo-tri-6000-ty-dong-uy-thac-qua-ngan-hang-chinh-sach-xa-hoi-162700.html