Mr. Le Minh Dang, Director of the Transaction Office of the Bank for Social Policies (BSP) in Nam Can district, informed: "In order to implement Article 5, Decree No. 78, dated October 4, 2002 of the Government on policy credit for the poor and other policy beneficiaries, the BSP and the Women's Union (WWU), the Farmers' Association, the Veterans' Association and the Ho Chi Minh Communist Youth Union from the central to local levels have issued a joint document agreeing on implementation".

Currently, the District Women's Union is the unit that receives the most trust among the unions, with a total outstanding debt of 156,770 billion VND. The Union manages 70 savings and credit groups, with over 3,500 borrowing households.

Mr. Pham Van Cuong (left cover) supports people coming to do transactions in Hang Vinh commune.

Mr. Pham Van Cuong (left cover) supports people coming to do transactions in Hang Vinh commune.

According to Ms. Huynh Thi My, Vice President of the Women's Union of Nam Can district, the groups have done quite well in evaluating borrowers, urging borrowers to pay interest and principal according to the contract, and mobilizing borrowers to participate in saving at the groups according to regulations. In addition, regular meetings with the District Social Policy Bank Transaction Office have been seriously implemented to exchange, grasp information, discuss implementation solutions, and at the same time direct grassroots associations to hold meetings, reminding Savings and Credit Groups to participate in transactions and meetings according to regulations.

In particular, at the beginning of the year, the unit developed a plan to inspect and supervise the 2025 loan entrustment activities for association establishments, and at the same time coordinated with the District Social Policy Bank Representative Board to inspect the entrustment activities of units according to assigned areas.

“In particular, we will integrate inspections of borrowers and Savings and Credit Groups with bad overdue debt rates and weak and underperforming groups to provide support, urging, and reminding so that group leaders and associations at all levels can perform well the task of entrusting capital from the VBSP. This is also an indicator to evaluate the annual performance of associations at all levels,” Ms. Huynh Thi My added.

Up to now, the district Social Policy Bank has established and maintained 8/8 transaction points in communes and towns, periodically organizing transactions once a month. This is a new step in administrative procedure reform, aiming to increase access to social policy credit services for poor households and other policy beneficiaries, reducing costs and travel time.

For the past 8 years, as the Head of the Savings and Credit Group in Hamlet 2, Hang Vinh Commune, Mr. Pham Van Cuong has managed 58 members, with a total outstanding debt of over 2.5 billion VND. At the beginning of the month, Mr. Cuong is responsible for collecting interest, receiving savings deposits from borrowers, and guiding people through the procedures related to repaying principal when due or mature, increasing capital sources or taking out new loans... On the 8th of each month, he will conduct transactions with the Social Policy Bank Transaction Office in the commune quickly and effectively.

“Transactions at the commune are very convenient for people because they are close to home, there is no need to go to the District Social Policy Bank Transaction Office, saving time and travel costs,” added Mr. Pham Van Cuong.

According to statistics, by the end of April, the total outstanding debt at the District Social Policy Bank Transaction Office was 438,997 billion VND./.

Van Tuong

Source: https://baocamau.vn/tang-hieu-qua-nguon-von-tin-dung-chinh-sach-a39328.html