Loan entrustment activities through political organizations

Social Policy Bank staff check the effectiveness of loans entrusted through the Farmers' Association in Cho Don district.

By the end of the first quarter, the total outstanding debt entrusted to 4 socio- political organizations including the Farmers' Association, the Women's Union, the Veterans' Association and the Youth Union reached VND3,466 billion, accounting for 98.46% of the total outstanding debt of the provincial Social Policy Bank, an increase of VND25 billion compared to the beginning of the year. The overdue debt ratio was low, only 0.12%, equivalent to VND4.2 billion, reflecting the effectiveness in capital management and supervision.

Of which, the Women's Union is managing the highest outstanding debt with 1,144.6 billion VND; followed by the Farmers' Association with 950 billion VND; the Youth Union with 698 billion VND and the Veterans' Association with 673 billion VND. Notably, the Youth Union has the highest increase in outstanding debt with 46.3 billion VND, showing its initiative in supporting young people in economic development.

Inspection and supervision work was carried out synchronously from the province to the commune. In the first quarter, the provincial political organization inspected once at the district level, twice at the commune level and two savings and loan groups, comparing them with 15 borrowers. The district and commune levels also conducted hundreds of inspections of savings and loan groups and borrowers, contributing to ensuring that capital was used for the right purposes and to the right subjects.

In parallel with lending activities, the Associations have coordinated with specialized units to organize 33 training courses on production technology transfer, attracting 1,250 participants. The Farmers' Association organized the most with 23 classes, for 827 people; the Women's Association and the Youth Union each organized 5 classes.

In addition, the work of propagating preferential credit policies and mobilizing savings deposits at savings and loan groups and commune transaction points continues to be focused on, raising awareness and community responsibility in using policy capital.

With the results achieved in the first quarter, the loan entrustment activities in Bac Kan continue to affirm their role as an effective bridge between the State's credit policy and the people, especially the vulnerable groups in rural and mountainous areas./.

Source: https://backan.gov.vn/Pages/hoat-dong-uy-thac-vay-von-qua-cac-to-chuc-chinh-tr-dc72.aspx