Lao Cai: More than 11 trillion VND of policy credit capital has been disbursed

In the first 7 months of 2025, social policy credit activities in Lao Cai achieved many outstanding results. With a total policy credit capital of 11,292 billion VND, it supported 32,280 poor households, near-poor households and other policy beneficiaries.

On the afternoon of August 15, the Board of Directors of the Lao Cai Provincial Bank for Social Policies (BSP) held a meeting to evaluate the performance of the first 7 months of 2025. Accordingly, as of July 31, the total policy credit capital reached VND 11,292 billion, an increase of VND 860 billion compared to the beginning of the year, completing 98.7% of the annual plan; total outstanding loans reached VND 11,273 billion, an increase of VND 859 billion compared to 2024, with 159,186 customers with outstanding loans. Policy credit capital has supported 32,280 poor households, near-poor households and other policy beneficiaries.

Many lending programs achieved high results such as: Job creation, maintenance and expansion of employment reaching 591 billion VND; clean water and rural environmental sanitation reaching 26.8 billion VND; eliminating temporary and dilapidated houses 133.2 billion VND; social housing (218.8 billion VND)... Credit activities also contributed to creating jobs for 7,538 workers; building nearly 20,000 new clean water and sanitation works; supporting 123 workers to work abroad; credit quality was maintained stably with an overdue debt rate of only 0.08% of total outstanding loans; 100% of transaction offices and 94.7% of savings and loan groups (TK&VV) were classified as good; transactions at 319 commune-level points were still maintained smoothly, convenient for people, at the same time, promoting the application of digital transformation, helping to look up information and manage transactions quickly and accurately.

Session view

In addition to the achieved results, policy credit activities still face difficulties such as inadequate facilities at some transaction points, new leaders of the People's Committee and union officials have limited experience, and some capital trust contracts do not have a specific term.

In the remaining months of 2025, the Board of Directors of the Provincial Social Policy Bank set a target of increasing outstanding loans by over 10% compared to 2024; maintaining the overdue debt ratio below 0.15%; continuing to expand access to capital for poor households and policy beneficiaries. At the same time, promoting digital transformation, improving the efficiency of loan use, contributing to promoting the socio -economic development of the province.

Mr. Ngo Hanh Phuc, Vice Chairman of the Provincial People's Committee, Head of the Board of Directors of the Lao Cai Provincial Bank for Social Policies, highly appreciated the performance of the Bank for Social Policies in July and the first 7 months of 2025. Especially in the context of provincial consolidation and the establishment of a two-level local government, the Bank for Social Policies has quickly stabilized its organization, maintained its operations, maintained its transaction network, and ensured safe and effective investment capital sources. The Vice Chairman of the Provincial People's Committee highly appreciated the role of policy capital in the fight against hunger, poverty reduction, and improving the living standards of people, especially ethnic minorities.

The Vice Chairman of Lao Cai Provincial People's Committee suggested that in the coming time, the provincial Social Policy Bank should promote the achieved results, grasp and quickly resolve arising issues; gradually improve the quality of operations of savings and loan groups, prevent bad debts from arising; do a good job of advising the province, issuing relevant policies and documents, ensuring consistency in the new Lao Cai province, and ending the application of policies of the old Lao Cai and Yen Bai provinces from January 1, 2026.

Source: https://phunuvietnam.vn/lao-cai-hon-11-nghin-ty-dong-von-tin-dung-chinh-sach-duoc-giai-ngan-20250815235422291.htm