Provincial Social Policy Bank contributes to promoting local economic growth

Since the beginning of 2025, the Provincial Bank for Social Policies (BSP) has actively coordinated with departments, branches, sectors and localities to advise the Provincial Party Committee and the Provincial People's Committee to effectively implement Directive No. 39 dated October 30, 2024 of the Secretariat on improving the effectiveness of social credit in the new period. The Provincial Party Committee has also specified the goals and targets for implementation, paying special attention to the allocation of local budget capital entrusted through the SBV to be implemented from 2025 to 2030. Up to now, the Standing Committees of the District Party Committees, Town Party Committees and City Party Committees in the province have issued action programs and plans to implement Directive No. 39 in accordance with local practical conditions.

The provincial Social Policy Bank supports loans for economic development models in Trieu Trach commune, Trieu Phong district - Photo: CANH THU

To effectively implement the proposed plan, the Provincial Social Policy Bank promptly advised the Provincial People's Committee and the Head of the Board of Directors of the Provincial Social Policy Bank in allocating targets and promptly organizing the implementation of the credit plan on schedule.

For local budget capital entrusted through the Bank for Social Policies in 2025, the provincial branch promptly advised the chief of staff of the representative board to allocate loan capital for programs including support for job creation, job maintenance and expansion, social housing, and people who have completed their prison sentences.

Regarding the capital allocated by the Central Bank for Social Policies and the temporary plan for 2025, the provincial branch promptly advised the Head of the Provincial Bank for Social Policies Representative Board to temporarily assign and assign targets, and promptly adjust to units for implementation. Regarding capital mobilization, the total policy credit capital by May 31, 2025 reached VND 5,554.4 billion, an increase of VND 258.5 billion compared to 2024, with a growth rate of 4.9%.

Regarding credit activities, the Provincial Social Policy Bank focuses on advising local Party committees and authorities, directing relevant units, and coordinating with socio -political organizations to review beneficiaries to synthesize needs and promptly disburse according to regulations as soon as directed by the General Director of the Social Policy Bank.

As of May 31, 2025, 14,965 poor households and other policy beneficiaries in the area received preferential credit loans with an amount of VND 843.8 billion, an increase of VND 59.9 billion over the same period in 2024; total outstanding debt reached VND 5,542 billion, an increase of VND 255.5 billion compared to 2024, the growth rate reached 4.8%, with 76,063 households still having outstanding debt; average outstanding debt/district reached VND 616 billion, average outstanding debt/commune reached VND 46.6 billion, average outstanding debt/savings and loan group reached VND 3 billion, average outstanding debt/household reached VND 72.9 million.

Preferential credit policy capital has helped more than 2,463 poor, near-poor and newly escaped poverty households to borrow capital, 2,396 workers have been given new jobs, and 214 students in difficult circumstances have been given loans to study.

Also from this capital source, 14,134 clean water supply and rural environmental sanitation projects were built, 1,175 households in difficult areas accessed preferential capital, 118 households received loans to build new and repair houses, 39 people who had completed their prison sentences received loans to do business and stabilize their lives.

In Dakrong district, outstanding loans reached 600.9 billion VND, an increase of 37.7 billion VND compared to 2024, with 8,509 poor households and other policy beneficiaries borrowing capital, accounting for 69.7% of households in the district. In Con Co island district, the branch has coordinated with the district youth union to disburse preferential credit capital to beneficiaries according to regulations, up to now, there are 11 customers with outstanding loans of 864 million VND.

To improve the quality of policy credit, in the first 5 months of 2025, in addition to increasing outstanding loans, the branch regularly directed transaction offices to continue to closely coordinate with local authorities and entrusted socio-political organizations to synchronously implement solutions to promote the effectiveness of debt collection, handling and management.

As of May 31, 2025, overdue debt is VND 2,231 million, an increase of VND 571 million compared to 2024, accounting for 0.04% of total outstanding debt; frozen debt is VND 3,582 million, frozen debt ratio is 0.06%. Cam Lo district is a locality that maintains no overdue debt.

Regarding the quality of policy credit in the whole province, 100% of district and commune-level units achieved good operational quality, and the provincial Social Policy Bank was assessed to have the highest policy credit quality nationwide. By May 31, 2025, the assessment result of policy credit performance quality reached 99.53 points.

Transaction activities were organized and implemented safely and effectively with 596 transaction sessions in 119 communes, wards and towns in the province according to fixed transaction dates. The disbursement rate at commune transaction points reached 99.91%, the principal collection rate was 99.78%, and the interest collection rate was 99.94%. Entrusted activities through socio-political organizations, by May 31, 2025, outstanding loans reached VND 5,526.6 billion, accounting for 99.7% of total outstanding loans, an increase of VND 254.8 billion compared to 2024.

However, some difficulties still exist such as the local budget capital entrusted through the Social Policy Bank in the province to lend to poor households and other policy subjects has not been guaranteed according to the strategic development goals of the Social Policy Bank until 2030, the proportion is very low, accounting for 4.7% of the total capital, while the national average is 14.7%. In 2025, there are 2 units that have not completed the plan to increase the local budget capital entrusted through the Social Policy Bank: Dong Ha City 600 million VND, Quang Tri Town 200 million VND.

In the coming time, the Provincial Social Policy Bank will continue to advise the province to promptly arrange local budget capital entrusted to transfer to the Provincial Social Policy Bank in 2025 to achieve at least 15% of the year's outstanding loan growth.

The unit continues to implement solutions to manage, monitor debt collection, improve credit quality as well as urge the collection of due debts, overdue debts, debts of customers who have left their place of residence, strengthen risk prevention and management to minimize new overdue debts. Continue to maintain transaction activities at the center, commune transactions to contribute to promoting socio-economic development in the locality.

Nguyen Vinh

Source: https://baoquangtri.vn/ngan-hang-chinh-sach-xa-hoi-tinh-gop-phan-thuc-day-tang-truong-kinh-te-o-dia-phuong-194251.htm