Strengthening the Party's leadership over social policy credit

Prime Minister Pham Minh Chinh chairs the national online conference. (Photo: VNA)

After 10 years of implementation, Directive No. 40 and Conclusion No. 06 of the Party Central Committee Secretariat have demonstrated the consistent policy of the Party and State in economic development associated with the implementation of poverty reduction goals and ensuring social security. Total credit capital over the past 10 years reached 373,000 billion VND, nearly 2.8 times higher than in 2014. This capital has been invested in 100% of communes, wards and towns nationwide, with priority given to ethnic minority and mountainous areas, remote areas, and particularly difficult areas... with more than 12.9 million customers receiving loans for production, business and job creation activities.

Delegates attending the conference at Lao Cai province bridge.

In Lao Cai, over the past 10 years, the province has spent 351 billion VND to supplement capital sources to meet the economic development loan needs of the poor and policy beneficiaries, contributing to reducing the rate of unemployment. The average annual poverty reduction rate of the whole province reached 4.91%; especially the poverty rate in ethnic minority and disadvantaged areas was only 18.8%.

Concluding the conference, along with highly appreciating the results achieved after 10 years of implementing Directive 40, Prime Minister Pham Minh Chinh requested that in the coming time, all levels, sectors and localities continue to effectively implement the Party's Resolutions on social policies; focus resources on improving capital structure; and increase the loan level to implement socio-economic development programs.

The Prime Minister also requested localities to prioritize resources entrusted through policy banks to solve employment and support social housing. Prioritizing capital sources for ethnic minority and remote areas, along with improving credit quality.

Trung Kien - Xuan Anh

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