Efficiency in using policy credit capital
Vice Chairman of the Provincial People's Committee, Head of the Board of Directors of the Social Policy Bank (SPB) of Dak Lak province, Nguyen Tuan Ha, said that as of March 31, 2025, the total source of social policy credit capital in the province reached VND 8,248 billion, an increase of more than VND 201 billion compared to the end of 2024. Of which, the balanced capital from the Central Government accounted for 92.3% and the capital entrusted from the local budget reached VND 635.2 billion, an increase of VND 91.7 billion, reaching 61% of the annual plan.
"The locality's proactive allocation of budget to the Vietnam Bank for Social Policies has demonstrated deep concern for social security work, supporting the poor and disadvantaged people to improve their lives," the Vice Chairman of the Provincial People's Committee emphasized.
Policy credit capital in the first quarter of 2025 was disbursed quickly and promptly, meeting people's needs. Total lending turnover reached VND 829.6 billion, an increase of more than VND 158 billion over the same period last year, with more than 13,400 poor households, near-poor households and other policy beneficiaries accessing loans.
By the end of March 2025, the total outstanding debt of the whole province reached VND 8,220.5 billion, an increase of nearly VND 195 billion compared to the end of 2024, a growth rate of 2.43%, with 163,369 customers with outstanding debt. Policy credit capital has helped many households have the conditions to invest in production development, create jobs, build houses, improve living conditions, and at the same time actively contribute to the process of sustainable poverty reduction and new rural construction.
In addition, transaction activities at the commune level continue to be maintained effectively with 180 fixed transaction points. 100% of communes, wards and towns across the province are classified as good in terms of commune transaction activities, creating favorable conditions for people, especially in remote areas.
Strengthening credit quality control, ensuring capital safety
Along with credit growth, credit quality continues to be tightly controlled. The rate of overdue debt and frozen debt in the whole province accounts for only 0.09% of total outstanding debt, much lower than the target set by the resolution (below 0.2%).
Vice Chairman of the Provincial People's Committee Nguyen Tuan Ha said: "Up to 121/180 communes and wards have no overdue debts; 97.3% of savings and loan groups are operating well. These are indicators that clearly reflect the effectiveness and seriousness in the management of preferential loans in the area."
The inspection and supervision of social credit continued to be carried out synchronously. In the first quarter, 189 members of the Board of Directors of the Social Policy Bank of provinces and districts participated in inspections at 9 communes, 268 savings and loan groups, and more than 1,000 borrowing households. The inspections showed that the loans were for the right subjects, used for the right purposes, did not generate large bad debts, and there were no negative phenomena.
Socio -political organizations entrusted with the program, such as the Farmers' Association, Women's Association, Veterans' Association and Youth Union, continue to closely coordinate with the Vietnam Bank for Social Policies to provide loans to the right target groups, ensuring credit quality. The total outstanding loans through the organizations reached VND8,199.7 billion, accounting for nearly 99.7% of the total outstanding loans, with an overdue debt ratio of only 0.02%.
Along with credit activities, the provincial Social Policy Bank also promotes the application of digital technology in management and transactions. 100% of savings and loan groups have conducted electronic transactions, shortening the processing time at commune transaction points by more than 50%. At the same time, more than 4,300 customers have used VBSP Smart Banking service, helping transactions to be safe and fast.
In communication work, the branch has implemented 220 propaganda products on social policy credit, reaching 128% of the plan, contributing to raising people's awareness and responsibility in using loan capital.
However, the Vice Chairman of the Provincial People's Committee also frankly admitted that the progress of transferring entrusted capital from the local budget is still slow, and the mobilization of deposits is not really stable and sustainable.
To overcome this, in the second quarter of 2025, the province will continue to focus on advising the Party Committee and the government to increase the allocation of entrusted capital; strongly mobilize savings deposits from members of savings and loan groups; step up inspection and supervision to improve credit quality; widely propagate new policies, contributing to the effective implementation of the goal of sustainable poverty reduction and socio-economic development in the locality.
“Policy credit is not only a financial resource but also a driving force for people to escape poverty, become rich legitimately, gradually narrow the development gap between regions, ensure social security, and build Dak Lak to become increasingly rich, beautiful, and civilized,” Vice Chairman of Dak Lak Provincial People's Committee Nguyen Tuan Ha emphasized.
Source: https://daibieunhandan.vn/tin-dung-chinh-sach-xa-hoi-tiep-suc-cho-nguoi-ngheo-vuon-len-phat-trien-kinh-te-post411194.html
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