100 million VND is the maximum loan amount for households doing production and business in difficult areas, applied from August 8, 2023.
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According to new regulations, households in disadvantaged areas can borrow up to 100 million VND for production and business.[/caption]According to Decision No. 17/2023 of the Prime Minister , which includes the content of increasing the loan amount for production and business for households in difficult areas, households can borrow up to 100 million VND/person with an interest rate of 9%/year. Previously, the maximum loan amount for households was 30 million VND with an interest rate of 0.9%/month.
The new Decision specifically regulates disadvantaged areas. In particular, disadvantaged areas include communes, wards, and towns (communes) specified in the List of commune-level administrative units in disadvantaged areas issued by the Prime Minister for each period.
In addition, island districts without commune-level administrative units but on the List of particularly disadvantaged communes in coastal and island areas issued by the Prime Minister for each period are also considered disadvantaged areas.
This area also includes villages on the list of particularly disadvantaged villages in ethnic minority and mountainous areas issued by competent authorities for each period; administrative units established on the basis of division, separation, and merger of administrative units...
Decision No. 17/2023 also clearly states the subjects eligible for loans. Specifically, the subjects eligible for loans are households as prescribed by law, including households doing farm business , carrying out production and business activities in areas not prohibited by law in disadvantaged areas as prescribed and meeting the prescribed loan conditions.
Regarding loan conditions, according to the decision, in addition to the previously prescribed conditions, borrowers must also ensure that they are not poor households, near-poor households, or households that have just escaped poverty according to the Prime Minister's decision.
At the same time, borrowers do not have outstanding debt at the Social Policy Bank for certain programs.
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Staff of the Transaction Office of the Social Policy Bank of Ha Quang district (Cao Bang) propagate and popularize lending policies to people.[/caption]Cao Bang is one of the leading localities in implementing loan policies for households producing and doing business in disadvantaged areas. The Chairman of the Provincial People's Committee has issued an official dispatch requesting the People's Committees of districts and cities to direct the People's Committees at the commune level and relevant units to organize the implementation of Decision No. 17/2023 of the Prime Minister.
In addition, localities across Cao Bang province must actively propagate and disseminate lending policies to all levels, sectors and people to know and implement, monitor and promptly handle arising difficulties and problems (if any).
The Chairman of the People's Committee of Cao Bang province assigned the Provincial Social Policy Bank Branch to direct the Social Policy Bank Transaction Offices of districts to proactively report and advise the People's Committee and the Board of Directors of the Social Policy Bank at district level to direct and implement the lending policy for households producing and doing business in disadvantaged areas and lending to traders doing business in disadvantaged areas to ensure timeliness, efficiency and compliance with regulations.
Cao Bang provincial leaders note to implement lending in accordance with regulations under the direction of the Prime Minister and the General Director of the Vietnam Bank for Social Policies. Do not lend for production and business plans, industries and occupations that are prohibited from investment and business. Regularly review legal regulations on the list of prohibited goods and prohibited commercial services to ensure lending in accordance with regulations.
In addition, the Chairman of the Cao Bang Provincial People's Committee requested that socio-political organizations receiving the mandate and relevant units propagate and disseminate the lending policy for households producing and doing business in difficult areas and lending to traders doing business in difficult areas to all levels, sectors and people for implementation and supervision.
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