More than 1 million poor households and policy beneficiaries receive policy loans

Policy capital is "covered" to 100% of neighborhoods, hamlets, residential groups, and people's groups in Ho Chi Minh City.

Ho Chi Minh City, after 50 years since the country's reunification, has constantly changed and grown strongly, becoming the leading economic , cultural and educational center of the country. In that journey, there is a silent force of "lotus soldiers" who have become the extended arm of the Party, the State and the City when implementing preferential credit policies to realize the goal of economic development associated with creating livelihoods, jobs, income and sustainable poverty reduction, improving the quality of people's lives...

From the early days of establishment with an initial capital of only 152 billion VND, by March 31, 2025, the total policy credit capital managed by the Ho Chi Minh City Branch of the Bank for Social Policies reached 13,406 billion VND, an increase of 49 times compared to when it was first established. Of which, the capital entrusted from the local budget accounted for 65.2% of the total capital. This demonstrates the close cooperation of the City Party Committee and government with social policy credit.

Since 1992, Ho Chi Minh City has initiated the Hunger Eradication and Poverty Reduction Program (now the Sustainable Poverty Reduction Program), currently implementing phase 7 (2021 - 2025), with 11 poverty line adjustments. Along with capital from the Government and localities, preferential credit programs implemented by the City Social Policy Bank Branch all originate from practical social needs. The programs have come to life and become vivid realities, recognized by local Party committees and authorities, and the majority of people, especially poor households and policy beneficiaries, are excited and trust the leadership of the Party and State.

Policy capital is "covered" to 100% of neighborhoods, hamlets, residential groups, and people's groups in the City, accompanying the poor and policy beneficiaries, contributing to the development of production industries, shifting the structure of crops and livestock, creating jobs for workers, improving the lives of poor households, and asserting their position in society.

Ms. Pham Thi Thanh Tuyen (residing in Tam Phu Ward, Thu Duc City) is an example. Life is always precarious, lacking one thing and then another. But since she was able to borrow 100 million VND from the Social Policy Bank's job creation capital, she has invested in shoelace weaving machines and purchased raw materials. The products of this small "processing workshop" were quickly consumed and became the main source of income for the whole family, from which Ms. Thanh Tuyen has the conditions to send her children to school and take care of her family.

Or Ms. Vu Thi Nam (living in Thoi An ward, district 12), thanks to borrowing policy capital for a long time, her family as well as many other business households have boldly expanded investment, increased production scale, improved product quality, created jobs for the family, as well as attracted more local workers.

Statistics from the Ho Chi Minh City Branch of the Bank for Social Policies show that over the past 20 years, over 1 million poor households and other policy beneficiaries in the City have borrowed capital from the Bank for Social Policies, with loan turnover reaching over VND 21,500 billion, contributing to the City having no more poor households according to national standards and the poverty rate according to the City's criteria is now only 0.09%.

Social policy credit programs have covered all vulnerable groups in the city, from students with difficult circumstances who have been able to borrow money to study; households affected by urban renovation projects, housing repairs and economic development; people living with HIV, people after drug rehabilitation, people in labor reform... In addition to the general socio-economic efficiency, policy capital is also a premise for the effective implementation of environmental protection programs and other economic, cultural and social programs in the city.

According to the report, the City still has more than 205,000 customers supported by the Social Policy Bank with a total outstanding balance of policy credit programs reaching more than 12,200 billion VND. Of which, policy credit serving production and business needs to create livelihoods and jobs reached 10,731 billion VND, accounting for 88.0% of the total outstanding balance. These telling figures have affirmed the indispensable role of the Social Policy Bank in the development flow of the City named after Uncle Ho.

Continuing the achievements, the Ho Chi Minh City Branch of the Bank for Social Policies is continuing to write golden pages for the beloved Southern land with the capital full of humanity and the enthusiastic hearts of each Branch staff, so that every citizen of the City has the opportunity to master their lives. Even higher, it contributes to building an inclusive, sustainable economy, where no one is left behind and the right to pursue happiness of every citizen becomes more real than ever.

Source: https://baodautu.vn/hon-1-trieu-luot-ho-ngheo-va-doi-tuong-chinh-sach-duoc-vay-von-chinh-sach-d278831.html