The Social Policy Bank has successfully implemented the goal of preserving and developing capital for the State.

On the morning of March 27, Member of the Party Central Committee, Deputy Prime Minister Ho Duc Phoc chaired a working session to assess the organization and operation of the Vietnam Bank for Social Policies (VBSP) in the past time, and to set orientations and solutions for operations in the coming time.

Deputy Prime Minister Ho Duc Phoc chaired a working session with the Vietnam Bank for Social Policies.

Reporting at the meeting, Board of Directors member and General Director of the Bank for Social Policies Duong Quyet Thang said that, up to now, the total source of social policy credit has reached over 416,000 billion VND, an increase of over 409,000 billion VND compared to 2002, with an average growth rate of 21.4%/year. Of which, 58,783 billion VND is the source of capital entrusted from local budgets. The total outstanding debt of policy credit programs has reached over 376,000 billion VND. The average annual growth rate of outstanding debt is 21.1%. Currently, more than 6.8 million poor households, near-poor households and policy beneficiaries have outstanding loans at the Bank for Social Policies.

Over the past 23 years, nearly 47.9 million poor households and other policy beneficiaries have received preferential loans. Thereby, contributing to helping more than 7 million households overcome the poverty line; attracting and creating jobs for more than 7.6 million workers; helping more than 4 million students in difficult circumstances to get loans for their studies; building nearly 20.4 million clean water and environmental sanitation works in rural areas; building, purchasing, and leasing nearly 784,000 houses for poor households, low-income households and policy beneficiaries...

In recent years, the Government and the Prime Minister have assigned the VBSP a number of important tasks such as credit policies to support people and businesses affected by the Covid-19 pandemic according to Resolution 68/NQ-CP of the Government; the Socio -Economic Recovery and Development Program according to Resolution No. 43/2022/QH15 of the National Assembly, Resolution No. 11/NQ-CP of the Government... Meanwhile, the ratio of overdue debt and frozen debt has decreased from 13.75% of total outstanding debt (when receiving the handover in 2002) to 0.55% of total outstanding debt, overdue debt accounts for 0.19% of total outstanding debt (as of March 20, 2025).

At the meeting, Ms. Nguyen Thi Hong, Governor of the State Bank and Chairwoman of the Board of Directors of the Vietnam Bank for Social Policies, emphasized that the activities of the Vietnam Bank for Social Policies have always received attention from the Party, the State and the Government leaders; achieved many important results, were recognized and highly appreciated by competent authorities and especially the masses. The Vietnam Bank for Social Policies is a typical microfinance provider in Vietnam, internationally recognized for its contribution to helping Vietnam achieve the Millennium Development Goals ahead of schedule.

In the coming time, the Board of Directors of the Vietnam Bank for Social Policies is determined to lead and direct the implementation of solutions suitable to the characteristics of the service objects to improve the management and operation efficiency of the Vietnam Bank for Social Policies; promote the application and digital transformation in professional activities, best serving the poor; continue to review and build a reasonable and effective organizational structure...

Concluding the meeting, Deputy Prime Minister Ho Duc Phoc stated that the VBSP is one of the pillars in the poverty reduction policy system, ensuring social security in Vietnam, serving the poor and other policy beneficiaries, leaving no one behind. With creative ways of working, the organization and apparatus are increasingly perfected and professional, effectively serving the poor and other policy beneficiaries.

Deputy Prime Minister Ho Duc Phoc also suggested some development orientations in the coming time.

Firstly, the People's Credit Fund must stabilize and reorganize its apparatus in accordance with the current administrative unit arrangement process. In particular, the reorganization of the apparatus must maintain the customer network.

Second, the VBSP needs to diversify its capital sources, especially low-cost capital sources to serve poor and near-poor households and policy beneficiaries. In particular, it is necessary to continue to improve efficiency, research and expand the form of receiving entrusted capital not only from localities, but also from enterprises and corporations...

Third, it is recommended that the VBSP continue to focus on developing professional and modern human resources, and arrange and manage personnel reasonably and effectively.

Fourth, continue to research and promote the application of information technology, digital transformation, big data... to improve the operational efficiency of the entire system, best serving the poor and policy beneficiaries.

Fifth, it is recommended that the VBSP continue to strengthen governance and capital management closely and effectively; review, research, and rebuild to optimize the loan approval, disbursement, monitoring, and debt collection processes... in accordance with the General Secretary's directive to reduce at least 30% of administrative procedures.

Sixth, it is recommended that the State Bank and relevant agencies study and advise the Government on issues related to lending to young people to buy houses; lending to people to buy or lease social housing..., with a spirit of innovation, creative approaches, in line with the development process of society, creating conditions for disadvantaged people to rise up.

Source: https://baodautu.vn/ngan-hang-chinh-sach-xa-hoi-thuc-hien-tot-muc-tieu-bao-toan-phat-trien-von-cho-nha-nuoc-d260347.html