Focus on implementing policy credit programs more effectively.

On the afternoon of April 26th, the Board of Representatives of the Social Policy Bank of Thanh Hoa province (the Board of Directors of the Social Policy Bank of Thanh Hoa province) held its regular quarterly meeting for the first quarter of 2024. Mr. Nguyen Van Thi, Member of the Standing Committee of the Provincial Party Committee, Permanent Vice Chairman of the Provincial People's Committee, and Head of the Board of Representatives of the Social Policy Bank of Thanh Hoa province, chaired the meeting.

Permanent Vice Chairman of the Provincial People's Committee Nguyen Van Thi delivered a speech at the meeting.

In the first quarter of 2024, the Board of Directors of the Vietnam Bank for Social Policies actively and proactively advised local Party committees and authorities to effectively implement policy credit programs from the beginning of the year, meeting the borrowing needs of poor households and policy beneficiaries. Direct inspection and supervision at the grassroots level were emphasized, promptly correcting shortcomings and errors in the implementation of preferential credit policies in the area.

From the beginning of the year to March 31, 2024, total policy credit lending reached VND 1,178.9 billion, with 22,000 poor households and other policy beneficiaries receiving loans. Total debt collection reached VND 847.6 billion. Total outstanding debt of policy credit programs reached VND 14,125 billion, an increase of VND 331 billion compared to 2023, with nearly 251,000 customers still having outstanding debt. Overdue and non-performing loans amounted to VND 18,559 million, accounting for 0.13% of total outstanding debt, lower than the national average of 0.44%.

Director of the Vietnam Bank for Social Policies in Thanh Hoa, Le Huu Quyen, reported on policy credit activities in the first quarter of 2024.

From policy credit funds, over 8,300 poor households, near-poor households, and newly-escaped-poverty households have borrowed 606 billion VND to invest in economic development; nearly 1,400 households in disadvantaged areas have borrowed 101.3 billion VND to invest in production and business development; 159 workers have borrowed 9.2 billion VND to go abroad for work; and nearly 8,400 households have been provided with loans totaling over 168 billion VND to build and renovate 16,800 clean water and sanitation facilities meeting standards...

The Director of the Department of Labor, War Invalids and Social Affairs delivered a speech at the conference.

Furthermore, policy credit funds are always integrated with investment in the development of OCOP products bearing local brands; providing practical support to localities to quickly complete the criteria for building new rural areas and advanced new rural areas, supporting and creating new jobs for workers... contributing to economic stability and development, ensuring social security, implementing national target programs for sustainable poverty reduction, building new rural areas and socio-economic development in ethnic minority and mountainous regions.

Permanent Vice Chairman of the Provincial People's Committee Nguyen Van Thi delivered the concluding remarks at the meeting.

Concluding the meeting, the Standing Vice Chairman of the Provincial People's Committee, Nguyen Van Thi, acknowledged and highly appreciated the sense of responsibility of the members of the Board of Directors' representatives at the provincial and district levels; and commended the efforts and endeavors of the staff of the Vietnam Bank for Social Policies and the entrusted organizations in the past period.

The comrade suggested that the Board of Directors of the Vietnam Bank for Social Policies (VBSP) at all levels focus on directing efforts to improve the capacity and effectiveness of social policy credit in the area. They should continue to advise and effectively implement Directive No. 40-CT/TW of the Central Party Secretariat on strengthening the Party's leadership over social policy credit. They should also advise the Provincial People's Committee to issue a document directing relevant units and local authorities to implement Resolution No. 111/2024/QH15 dated January 18, 2024, of the National Assembly regarding the special mechanism for entrusting local budget capital through the VBSP system.

Members of the Board of Directors of the Vietnam Bank for Social Policies at all levels uphold a high sense of responsibility, strengthen coordination, and conduct inspections and supervision at the local level; regularly monitor and understand the difficulties and obstacles in the process of implementing lending at the grassroots level. From there, they can promptly find solutions to overcome difficulties and ensure the correct implementation of the State's preferential credit policies for policy beneficiaries in the province.

The Standing Vice Chairman of the Provincial People's Committee assigned the Thanh Hoa Social Policy Bank to focus on implementing the 2024 credit plan targets; closely coordinate with provincial-level entrusted associations and organizations to direct the disbursement of allocated capital for growth and timely recovery of recovered capital; prevent capital stagnation, ensure the completion of assigned targets and plans, and maintain credit quality in the province. At the same time, continue to support policy credit capital to help people invest in the development of OCOP products, support and create new jobs for workers...

In the second quarter of 2024, the Board of Directors of the Vietnam Bank for Social Policies at all levels focused on effectively implementing policy credit programs, promptly meeting the borrowing needs for production, business, and job creation, contributing to improving the lives of poor households, ethnic minority households, and other policy beneficiaries.

Political and social organizations are strengthening coordination with the Vietnam Bank for Social Policies (VBSP) to implement solutions to improve the quality of policy credit in the area; enhancing the efficiency of transactions at the commune level, building model commune transaction points, model savings and loan groups, and advanced models in the implementation of entrusted activities.

Khanh Phuong

Source: https://baothanhhoa.vn/tap-trung-trien-khai-tot-hon-nua-cac-chuong-trinh-tin-dung-chinh-sach-212703.htm