Social policy credit capital is an important driving force in development.

(QBĐT) - This afternoon, February 29, the Standing Committee of the Provincial People's Council organized a working session with the Provincial Bank for Social Policies (BSP) chaired by comrade Tran Hai Chau, Standing Deputy Secretary of the Provincial Party Committee, Chairman of the Provincial People's Council.

Attending the event were comrade Nguyen Cong Huan, member of the Provincial Party Standing Committee, Permanent Vice Chairman of the Provincial People's Council; Vice Chairmen of the Provincial People's Council, People's Committee, and Vietnam Fatherland Front Committee; representatives of leaders of a number of departments, branches and sectors.

At the meeting, the representative of the leadership of the VBSP - Quang Binh Branch reported to the working delegation on the implementation of social credit for the poor and other policy beneficiaries in the province in the period of 2003-2023. Accordingly, over the past 21 years, the branch has actively advised authorities at all levels to build a widespread, highly socialized network organization system with over 7,000 participants. With the motto of "understanding the people's hearts, serving wholeheartedly", up to now, 2,200 savings and loan groups have operated throughout the province, under the management of 4 entrusted socio-political organizations at all levels.

Standing Deputy Secretary of the Provincial Party Committee, Chairman of the Provincial People's Council Tran Hai Chau spoke at the meeting.

The branch has opened 151/151 commune-level transaction points with the method of "service at home, disbursement, debt collection at the commune", creating convenience for people. Total credit capital as of December 31, 2023 reached VND 5,243 billion, an increase of VND 5,009 billion, 22.5 times higher than when it was first established.

From 3 credit programs handed over since its establishment in 2003 (poor households, job creation, students in difficult circumstances) with a total outstanding loan of 233 billion VND, after 21 years, the Social Policy Bank - Quang Binh Branch has disbursed loans for 28 social policy credit programs with a total loan turnover of 15,313 billion VND; total debt collection turnover of 10,147 billion VND; total outstanding debt as of December 31, 2023 ranked 15th out of 63 provinces and cities. Currently, there are 86,334 poor households, near-poor households and policy beneficiaries with outstanding loans (accounting for over 33% of households in the whole province), with an average outstanding loan of over 60 million VND/household. The total outstanding loan entrusted through 4 socio-political organizations is 5,235 billion VND, accounting for 99.9% of the total outstanding loan of policy credit programs.

Comrade Nguyen Cong Huan, member of the Provincial Party Standing Committee, Permanent Vice Chairman of the Provincial People's Council, spoke at the meeting. — Permanent Vice Chairman of the Provincial People's Council Nguyen Cong Huan spoke at the meeting.

In particular, in 2022-2023, the bank will lend VND 3,443 billion to 63,362 borrowers, with total outstanding loans increasing by VND 1,550 billion, accounting for 30% of total outstanding loans. In particular, in the 2 years of implementing Resolution No. 11/NQ-CP on the Socio-Economic Recovery and Development Program and Resolution No. 43/2022/QH15 of the National Assembly on fiscal and monetary policies to support the program, loan turnover reached VND 1,057 billion to 9,921 borrowers; total outstanding loans reached VND 1,055 billion (out of a total of VND 38,400 billion nationwide), completing 100% of the growth plan.

Along with implementing 5 policy credit programs under Resolution No. 11, the bank has provided interest rate support loans under Decree No. 36/2022/ND-CP of the Government for credit programs with loan interest rates above 6%/year for 46,064 loans, disbursed amount of over VND 2,200 billion with a total interest rate support amount of VND 43.2 billion.

Vice Chairman of the Provincial People's Council Hoang Xuan Tan spoke at the meeting.

During the operation process, along with credit growth, credit quality is ensured. As of December 31, 2023, the total outstanding overdue debt and frozen debt at the Social Policy Bank - Quang Binh Branch was 4.8 billion VND, accounting for 0.09% of the total outstanding debt. Inspection, supervision, emulation, rewards, propaganda, etc. are focused on. After 21 years, policy credit capital has created conditions for hundreds of thousands of poor households, policy beneficiaries, workers, students, etc. to overcome difficulties, gradually eliminate hunger, reduce poverty, maintain operations, jobs and study. Preferential credit capital has actively contributed to the implementation of 3 national target programs in recent times.

In the context of many difficulties, the Provincial and District People's Committees have also effectively implemented Directive No. 40-CT/TW and Conclusion No. 06-KL/TW of the Secretariat on strengthening the Party's leadership over social credit and continued to implement Directive No. 40-CT/TW of the Secretariat on strengthening the Party's leadership over social credit, contributing to profound changes in the awareness and actions of Party committees, authorities and socio-political organizations, positively impacting the lives and production of poor households and policy beneficiaries.

Representative of the provincial Social Policy Bank leadership reported on the performance results for the period 2003-2023. — Representative of the leadership of the People's Credit Fund - Quang Binh Province Branch reported on the performance results for the period 2003-2023.

At the meeting, opinions affirmed the clear effectiveness of the social credit capital. Representatives of the Vietnam Bank for Social Policies - Quang Binh Branch and delegates also pointed out the existing problems and difficulties and made proposals and recommendations to continue implementing and promoting the effectiveness of social credit capital in the coming time.

In his concluding remarks at the meeting, Mr. Tran Hai Chau, Standing Deputy Secretary of the Provincial Party Committee, acknowledged and highly appreciated the outstanding results and efforts of the Bank for Social Policies - Quang Binh Branch, relevant organizations and units over the past 20 years. He affirmed that the source of social credit capital has created an important driving force for development, demonstrated profound humanity, "covered" many subjects, created stability and high consensus in society.

To effectively implement the Government's social credit programs and local entrusted credit programs, accompanying the poor and policy beneficiaries, he suggested that in the coming time, the VBSP - Quang Binh Provincial Branch continue to effectively implement Directive No. 40 and Conclusion No. 06 of the Secretariat on strengthening the Party's leadership over social credit in accordance with the new situation.

Regarding the proposals and recommendations, Mr. Tran Hai Chau, Standing Deputy Secretary of the Provincial Party Committee, acknowledged and gave specific instructions to the Vietnam Bank for Social Policies as well as relevant departments and branches to coordinate to resolve the issues in the coming time in order to further promote the resources and effectiveness of social policy credit in poverty reduction and implementation of national target programs.

* Some pictures at the meeting: