Social policy credit has become a "bright spot" in the system of poverty reduction and social security policies.

View of the online conference this afternoon at the Quang Nam bridge. Photo: Q.VIET

The conference was connected online from the Government headquarters to 63 provinces and centrally-run cities.

Also attending the conference were: Governor of the State Bank Nguyen Thi Hong, Chairwoman of the Board of Directors of the Vietnam Bank for Social Policies (VBSP); members of the Board of Directors of the VBSP; Minister, Chairman of the Ethnic Committee Hau A Lenh; Chairwoman of the Vietnam Women's Union Ha Thi Nga; Chairman of the Vietnam Farmers' Union Luong Quoc Doan; leaders of departments, ministries, branches, central and local agencies.

At the Quang Nam bridge, Vice Chairman of the Provincial People's Committee Tran Anh Tuan - Head of the Board of Directors of the Vietnam Bank for Social Policies, Quang Nam branch chaired.

Prime Minister Pham Minh Chinh said that since Directive 40 was issued, policy credit has entered people's lives faster, achieved more positive results, and is consistent with the Party and State's policies in achieving the goal of rapid and sustainable poverty reduction, building new rural areas, ensuring social security, political stability, national security and defense, and caring for the disadvantaged.

The results achieved when implementing Directive 40 show that the organizational model and method of policy credit management are suitable to the structure of the political system and the reality of Vietnam; mobilizing the strength of the whole society to care for the poor and policies. The linkage through policy credit activities has created conditions for State management agencies, banks, socio-political organizations to closely connect with the people, be close to the people, understand the people, grasp the reality to handle work, improve the quality of their own activities and create conditions for the people to monitor the implementation of the State's regime and policies.

As of July 31, the Farmers' Association, Women's Union, Veterans' Association and Youth Union had been entrusted by the Vietnam Bank for Social Policies to manage VND349,031 billion of outstanding loans. Of which, the Women's Union managed VND132,484 billion (accounting for 38%); the Farmers' Association managed VND103,550 billion (accounting for 30%); the Veterans' Association managed VND60,996 billion (accounting for 17%); and the Youth Union managed VND52,001 billion (accounting for 15%).

Mr. Duong Quyet Thang - General Director of the Bank for Social Policies said that socio-political organizations have focused on propagating the Party and State's policies and guidelines on credit for the poor and other policies; mobilizing the establishment, management, inspection and supervision of savings and credit groups (S&L); coordinating with policy banks to lend, manage loans, handle debts, consolidate and improve credit quality... The entrustment method has promoted the advantages of socio-political organizations with networks and cadres in all communes, close to the people, experienced in social work; performing the function of representing and protecting the legitimate rights and interests of union members, especially poor members.

Entrustment activities have contributed to bringing social policy credit capital to beneficiaries quickly, on a large scale, ensuring timeliness, right subjects, publicity and democracy.

According to Ms. Nguyen Thi Hong - Governor of the State Bank, Chairwoman of the Board of Directors of the Bank for Social Policies, the organization of transactions at the commune level of the Bank for Social Policies has created a service system close to the people, friendly, saving travel costs for the people. Policy credit capital reaches the poor and policy beneficiaries, limiting negative arising in lending and debt collection activities.

Policy credit helps Quang Nam people invest effectively in garden and farm economy. Photo: Q.VIET

On behalf of the Government, Prime Minister Pham Minh Chinh acknowledged, commended and highly appreciated the proactiveness and positivity of central ministries, branches, local authorities at all levels, especially the important contribution of the Vietnam Bank for Social Policies in advising and organizing the implementation of Directive 40, Conclusion 06 of the Secretariat and the Plan for implementing the directive and conclusion of the Secretariat issued by the Government and the Prime Minister.

The Prime Minister said that with the results achieved after more than a decade of the entire political system joining hands, social policy credit has become a "bright spot" and a "pillar" in the system of poverty reduction policies, ensuring social security, meeting the aspirations of the people, especially the poor and vulnerable groups in society.

Prime Minister Pham Minh Chinh also highly appreciated the savings and credit group model of the Vietnam Bank for Social Policies, in coordination with commune-level authorities and socio-political organizations to build, establish and manage more than 168,000 savings and credit groups in each hamlet, village, and residential group. The savings and credit groups are a bridge between the policy bank and borrowers. This is an innovative product of great significance, creating a foundation for the successful implementation of credit policies for the poor and other policy beneficiaries.

The Savings and Credit Group model has contributed to ensuring the loan repayment rate, suitable for poor households, near-poor households, and policies. Establishing a Savings and Credit Group and bringing banking operations to the grassroots level has contributed to ensuring the lending target is correct; borrowers have convenience in implementing loan procedures and processes, and improving the efficiency of credit capital management.

In addition to the above achievements, the Prime Minister pointed out that the implementation of Directive 40 and Conclusion 06 of the Secretariat still has some shortcomings and limitations, such as the capital structure is not really reasonable and ensures sustainability; the entrusted capital in some provinces is still limited, not commensurate with the potential and strengths of socio-economic development in the locality; some credit policies, although adjusted to increase the loan level, the implementation is still slow (credit program for clean water supply and environmental sanitation in rural areas, loans for disadvantaged areas...).

In 10 years, the whole country has had more than 21 million households receiving preferential loans to develop production and business. Thereby, helping more than 3.1 million households overcome the poverty line; more than 4.2 million workers borrow capital to create jobs; build more than 13.2 million works to provide clean water, sanitation and environment to people in rural areas; more than 610 thousand students borrow capital to cover study expenses; more than 193 thousand houses for the poor and policy beneficiaries; and more than 1.2 million workers have had their salaries paid by businesses due to the impact of the COVID-19 pandemic...

Source: https://baoquangnam.vn/thu-tuong-chinh-phu-pham-minh-chinh-tin-dung-chinh-sach-xa-hoi-da-tro-thanh-diem-sang-trong-he-thong-cac-chinh-sach-giam-ngheo-an-sinh-xa-hoi-3139520.html