Many loans were forgiven after the storm and flood.

Since the beginning of the year, the Bank for Social Policies, Lao Cai Branch, has implemented many solutions to manage debt, prevent and limit risks, and at the same time, carry out debt forgiveness for subjects affected by natural disasters.

Officers of the Bank for Social Policies, Lao Cai Branch, inspected the use of loan capital in Van Phu ward.

The branch has tightened its business processes, increased inspections before, during and after lending to ensure disbursement to the right beneficiaries. In particular, the units regularly review loans damaged by natural disasters and floods to prepare timely handling records.

Since the beginning of the year, the Branch has proposed to process 2 batches of 57 loans with an amount of nearly 2.2 billion VND; of which, debt cancellation for 8 loans with an original amount of 855 million VND, debt cancellation for 36 loans with an amount of over 1.3 billion VND. All files have been checked 100% of customers in accordance with the direction of the Vietnam Bank for Social Policies.

Lao Cai Branch of the Vietnam Bank for Social Policies tightens business processes, enhances inspection work before, during and after lending, ensuring disbursement to the right subjects.

After storm No. 10, 186 households borrowing capital from the Social Policy Bank suffered losses with a total loan amount of over 12 billion VND, of which 78 households had severely damaged houses.

The branch has directed the review and synthesis of households eligible for risk handling; prioritized capital sources for damaged areas to restore production and business; extended debt repayment for households with due debt; coordinated with local authorities to support households in difficult circumstances.

Source: https://baolaocai.vn/nhieu-mon-vay-duoc-khoanh-no-sau-bao-lu-post884400.html