More than 50,000 billion VND can be "loaned quickly" to help workers avoid falling into black credit.

Emergency credit loans can help workers and laborers avoid having to borrow from "black credit" (Illustration: Hai Long).

On July 6, CEP Microfinance Organization signed a cooperation agreement with the Labor Federation of Southern provinces and cities to jointly prevent and combat "black credit" among workers.

The program is implemented in 9 provinces where CEP is operating: Binh Duong, Dong Nai, Tay Ninh, Long An, Ben Tre, Tien Giang , Vinh Long, Dong Thap and An Giang.

The signed content targets 3 groups of solutions that CEP will implement with the Provincial Labor Federations in the period 2023-2028.

The first is to increase access to CEP products and services for workers. The second is to improve financial knowledge, helping workers avoid "black credit" and effectively manage personal finances. The third is to supplement capital sources to meet workers' borrowing needs.

In the context of economic difficulties, some workers have lost their jobs, had their working hours reduced, and their income has decreased, leading to a lack of finance and having to borrow "black credit", which negatively affects the lives of workers.

Therefore, the Vietnam General Confederation of Labor has directed CEP to coordinate with provincial Labor Confederations to implement the above program to enhance care and protect workers' rights, minimizing the harmful effects of "black credit" on their lives.

"Black credit" advertisements cover areas with high concentrations of workers (Illustration: Contributor).

It is expected that in the period of 2023 - 2028, CEP will provide loans to more than 1.4 million workers and workers' households with an amount of more than 50,000 billion VND.

In addition to providing emergency capital at low interest rates, CEP also implements programs to enhance savings habits for workers so that they know how to implement personal financial plans, prepare for risks, and avoid borrowing from "black credit"...

According to CEP, in more than 31 years of operation, the unit has always been steadfast in its non-profit goals, effectively implementing capital support for low-income workers, contributing to pushing back the problem of "black credit", helping workers improve their lives.

Currently, CEP has many credit products for customers from poor and near-poor households to create more jobs, increase income, expand income-generating activities with an interest rate of only 0.4%/month; lend to business households to invest in expanding business activities with an interest rate of 0.68%/month; lend to workers a small, short-term emergency loan to solve urgent needs with an interest rate of 0.5%/month...

Source link: https://dantri.com.vn/lao-dong-viec-lam/hon-50000-ty-dong-co-the-vay-nong-de-cong-nhan-do-roi-vao-tin-dung-den-20230707010850639.htm