Total outstanding debt of policy credit programs in Duy Xuyen reached 466 billion VND

1(1).jpg — The delegation of the Board of Directors of the Provincial Social Policy Bank worked with Duy Xuyen district. Photo: TL

On the afternoon of April 12, the working delegation of the Board of Directors of the Social Policy Bank (SPB) of the province led by Mr. Nguyen Qui Quy - Deputy Director of the Department of Labor, Invalids and Social Affairs had a working session with the Board of Directors of the SPB of Duy Xuyen district.

According to the report at the meeting, in the past time, the Board of Directors of the Social Policy Bank of Duy Xuyen district has implemented many effective solutions to implement policy credit programs; developed a plan to allocate capital to communes and towns, ensuring to meet the demand for loans for production and business of poor households and policy beneficiaries. At the same time, it has effectively implemented the work of urging and collecting overdue debts.

In the first 3 months of 2024, the loan turnover of credit programs reached nearly 40 billion VND with 1,041 poor households, near-poor households and other policy beneficiaries receiving loans, raising the total outstanding debt of policy credit programs to 466 billion VND, an increase of nearly 4 billion VND compared to December 31, 2023.

Currently, the average outstanding debt per commune is 33 billion VND, the average outstanding debt per household is 42 million VND. Overdue debt accounts for 0.05% of total outstanding debt. Through this capital source, many poor households and policy beneficiaries in Duy Xuyen have capital to develop production and business, create jobs, contributing to reducing the poverty rate of the district to only 2.06% to date.

Inspecting and supervising the management and use of loan capital in Duy Phu commune. Photo: TL

Previously, the working group inspected and supervised the management and use of loan capital in Duy Phu commune. As of March 31, 2024, this locality is implementing 10 preferential credit programs with a total outstanding loan balance of more than 26 billion VND, with 621 households still in debt; the overdue debt ratio is 0.19%; the quality of policy credit activities in Duy Phu commune is classified as good, reaching 97.28 points.

Source