The conference was conducted online, connecting the Government headquarters to locations in 63 provinces and centrally-administered cities.
Attending the conference were: Governor of the State Bank of Vietnam Nguyen Thi Hong, Chairwoman of the Board of Directors of the Social Policy Bank; members of the Board of Directors of the Social Policy Bank; Minister and Chairman of the Committee for Ethnic Minorities Affairs Hau A Lenh; President of the Vietnam Women's Union Ha Thi Nga; President of the Vietnam Farmers' Association Luong Quoc Doan; and leaders of central and local departments, ministries, agencies, and organizations.
At the Quang Nam branch, Vice Chairman of the Provincial People's Committee Tran Anh Tuan - Head of the Board of Directors' Representative Committee of the Social Policy Bank branch in Quang Nam - presided over the meeting.
Prime Minister Pham Minh Chinh said that since the issuance of Directive 40, policy credit has entered people's lives more quickly and effectively, in line with the Party and State's policies in achieving the goals of rapid and sustainable poverty reduction, building new rural areas, ensuring social security, political stability, national defense and security, and caring for vulnerable people.
The results achieved from implementing Directive 40 show that the organizational model and management methods of policy credit are consistent with the political system structure and practical realities of Vietnam; mobilizing the strength of the entire society to care for the poor and those in need. The interconnected relationship through policy credit activities has created conditions for state management agencies, banks, and socio-political organizations to closely connect with the people, understand the people, grasp the reality to handle work, improve the quality of their own operations, and create conditions for the people to monitor the implementation of state policies and regulations.
As of July 31st, the Farmers' Association, the Women's Union, the Veterans' Association, and the Youth Union had received entrusted funds from the Social Policy Bank to manage 349,031 billion VND in outstanding loans. Of this amount, the Women's Union managed 132,484 billion VND (38%); the Farmers' Association managed 103,550 billion VND (30%); the Veterans' Association managed 60,996 billion VND (17%); and the Youth Union managed 52,001 billion VND (15%).
Mr. Duong Quyet Thang, General Director of the Social Policy Bank, said that socio-political organizations have focused on disseminating the Party and State's policies on credit for the poor and other policies; mobilizing the establishment, management, inspection, and supervision of savings and loan groups; coordinating with the policy bank to provide loans, manage loan capital, handle debts, and consolidate and improve credit quality… The entrustment method has leveraged the advantages of socio-political organizations with their network and staff in all communes, close to the people, and rich in experience in social work; performing the function of representing and protecting the legitimate rights and interests of members, especially poor members.
The entrusted activities have contributed to delivering social policy credit capital to beneficiaries quickly and on a large scale, ensuring timeliness, targeting the right beneficiaries, and maintaining transparency and democracy.
According to Ms. Nguyen Thi Hong, Governor of the State Bank of Vietnam and Chairwoman of the Board of Directors of the Social Policy Bank, the establishment of transaction offices at the commune level by the Social Policy Bank has created a service system that is close to the people, friendly, and saves people travel costs. Policy credit capital reaches the poor and policy beneficiaries directly, limiting negative issues arising in lending and debt collection activities.
On behalf of the Government, Prime Minister Pham Minh Chinh acknowledged, commended, and highly appreciated the proactive and positive efforts of central ministries and agencies, local authorities at all levels, and especially the important contributions of the Vietnam Bank for Social Policies in advising and organizing the implementation of Directive 40 and Conclusion 06 of the Party Central Committee, and the plan for implementing the directives and conclusions of the Party Central Committee issued by the Government and the Prime Minister.
The Prime Minister stated that, with the results achieved after more than a decade of concerted efforts by the entire political system, social policy credit has become a "bright spot" and a "pillar" in the system of poverty reduction policies, ensuring social security, and 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 Social Policy Bank, which, in coordination with commune-level authorities and socio-political organizations, has built, established, and managed more than 168,000 Savings and Credit Groups in each village, hamlet, and residential area. These Savings and Credit Groups serve as a bridge between the policy bank and borrowers. This is an innovative and important product, creating a foundation for the successful implementation of credit policies for the poor and other policy beneficiaries.
The savings and loan group model has contributed to ensuring the loan repayment rate, suitable for poor and near-poor households, and in accordance with policies. Establishing savings and loan groups and bringing banking services to the grassroots level has helped ensure that loans are given to the right target groups; borrowers have easier access to loan procedures, and credit management efficiency is improved.
Besides the achievements mentioned above, the Prime Minister pointed out that the implementation of Directive 40 and Conclusion 06 of the Party Central Committee still has some shortcomings and limitations, such as the capital structure not being truly rational and ensuring sustainability; entrusted capital in some provinces is still limited and not commensurate with the potential and strengths of socio-economic development in the localities; some credit policies, although adjusted to increase loan amounts, are still slow to implement (the rural clean water and sanitation credit program, loans for disadvantaged areas...).
Over the past 10 years, more than 21 million households nationwide have received preferential loans to develop production and business. This has helped over 3.1 million households overcome poverty; over 4.2 million workers have borrowed capital to create jobs; over 13.2 million projects providing clean water, sanitation, and environmental services have been built for people in rural areas; over 610,000 students have borrowed capital to cover their study expenses; over 193,000 houses have been built for the poor and policy beneficiaries; and over 1.2 million workers have received loans from businesses to pay salaries affected by 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
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