Providing maximum support for people to borrow money.

Following the provincial directive, the Social Policy Bank (SPB) branch in Quang Ninh is actively coordinating with local authorities and entrusted socio-political organizations to review, compile lists, and complete loan applications for policy credit to address risks, overcome difficulties, and gradually restore production.

Officials from the Social Policy Bank in Quang Yen town guide residents in completing the necessary paperwork for debt restructuring.

Ms. Vu Thi Thuy's family (Hamlet 3, Hoang Tan Commune, Quang Yen Town) is a near-poor household in the commune. Typhoon No. 3 made things even more difficult for Ms. Thuy's family when their livestock pens were damaged and 50 goats died. In response to the family's difficulties, in addition to temporarily suspending interest payments, the Social Policy Bank of Quang Yen Town, in coordination with the Women's Union of the commune and the Savings and Loan Group, assessed the damage, understood their needs, and guided them in completing the necessary paperwork for debt restructuring.

Ms. Thuy shared: "In 2023, I received a loan of 60 million VND from the preferential credit fund of the Social Policy Bank of Quang Yen town. With this money, I invested in barns, feed, and breeding stock to raise nearly 100 goats. However, the recent Typhoon No. 3 devastated me. The goats died, the barns were damaged, and I lost all my capital. If the debt could be restructured, it would help me reduce my financial burden and provide capital to restore production and develop my economy ."

Not only Ms. Thuy, but since Typhoon No. 3, the Social Policy Bank of Quang Yen town has actively coordinated with local authorities and socio-political organizations to complete 114 dossiers of households affected by the typhoon, totaling 8.3 billion VND, to submit to competent authorities for debt settlement decisions. These households are exempt from principal and interest payments for 5 years from the date of the debt restructuring decision.

Ms. Nguyen Thi Kim Nhung, Director of the Social Policy Bank in Quang Yen town, said: Quang Yen is a locality heavily affected by typhoon No. 3, with many households engaged in livestock farming, aquaculture, and crop cultivation suffering losses. The bank is actively coordinating with the local authorities, socio-political organizations, and the Savings and Credit Group to objectively, honestly, and accurately assess the damage suffered by the people. At the same time, we are providing maximum support to the people, quickly completing the necessary documents to submit to the province and the central government for consideration of restructuring the repayment period or freezing the debt.

Officials from the Social Policy Bank of Cam Pha City disburse loans to households.

Currently, 12,711 people in the province have loans from the Social Policy Bank branch in Quang Ninh , with a total outstanding debt of 741 billion VND, who were affected by Typhoon No. 3. Following the direction of the Provincial People's Committee in document No. 2748/UBND-KTTC (dated September 20, 2024) on urgently implementing measures to support people in overcoming damage and restoring production and business after Typhoon No. 3, the Social Policy Bank branch in Quang Ninh has actively coordinated with relevant departments, localities, and political and social organizations to review and compile a list of loan customers affected by objective factors, determining the extent of damage suffered by borrowers to submit to competent authorities for consideration and handling of loans affected by objective factors according to appropriate measures. These measures include extending the repayment period (prolonging the repayment term as committed in the credit contract); Debt restructuring (suspending debt collection from customers and not charging interest during the restructuring period) is implemented upon a decision from the competent authority as prescribed; and the risk management application dossier is completed and submitted to the competent authority for consideration and processing as prescribed. In particular, the Vietnam Bank for Social Policies (VBSP) branch in Quang Ninh has increased the number of staff deployed to districts, towns, and cities with a large number of affected residents to quickly complete the dossiers in accordance with regulations. According to a review by the VBSP branch in Quang Ninh, as of October 25th, the entire province has 368 people eligible for debt restructuring with a total amount exceeding 22 billion VND, including principal and interest.

The Social Policy Bank branch in Quang Ninh regularly coordinates the dissemination of information, reviews, and disbursement of funds to meet the needs of the people; it continues to advise and report on the allocation of funds, ensuring sufficient capital for people affected by the damage to restore and develop production and business, stabilize livelihoods, and create jobs.

At the end of September 2024, the province allocated nearly 288 billion VND from its budget to support production development, supplementing other development investment expenditures, to the Quang Ninh branch of the Vietnam Bank for Social Policies (VBSP) for lending to support production development, in accordance with Resolution No. 216/NQ-HĐND on supplementing, adjusting, and allocating the 2024 provincial budget. Based on this, the VBSP branch in Quang Ninh disbursed loans totaling 142 billion VND to 1,577 people. These support measures from the province and the bank are an important foundation for people to recover production more strongly.

Source: https://baoquangninh.vn/ho-tro-toi-da-cho-nguoi-dan-vay-von-3326302.html