Ho Chi Minh City: Loans up to 300 million VND/person for officials affected after the merger

On the afternoon of August 28, the 10th term Ho Chi Minh City People's Council held its third session (special session).

Delegates salute the flag at the meeting. *Photo: Huu Hanh*

Speaking at the meeting, Chairman of the Ho Chi Minh City People's Council Vo Van Minh said that this meeting aims to remove "bottlenecks" and decide on major issues serving the direction and administration of the city government.

Specifically, the City People's Council considered 35 resolutions, including 19 legal resolutions and 16 individual resolutions in the fields of economy , budget, urban, culture - society and law. These are very important resolutions to contribute to the completion of the socio-economic development goals in 2025 and create a foundation for the successful implementation of the Resolution of the 11th Ho Chi Minh City Party Congress, term 2020-2025 as well as the 5-year socio-economic development plan (2021-2025).

Chairman of Ho Chi Minh City People's Council Vo Van Minh speaks at the meeting. *Photo: Huu Hanh*

At the meeting, the City People's Council passed a Resolution regulating the loan support regime to create jobs for cadres, civil servants, public employees, part-time workers, and workers who quit their jobs after the reorganization of the political system in Ho Chi Minh City.

Accordingly, the city supports loans with a maximum of 300 million VND/person, to support job creation and job expansion. Each subject is supported with one loan cycle at the Ho Chi Minh City Branch of the Bank for Social Policies. The specific loan amount is considered by the Ho Chi Minh City Branch of the Bank for Social Policies based on the capital source, usage needs, production cycle, and repayment capacity of the borrower.

The loan is made in the form of credit, confirmed by the People's Committee of the commune level to have a need for capital according to the loan process for job creation and current regulations applied at the Social Policy Bank; the maximum loan term is 120 months; the loan interest rate is equal to the loan interest rate for poor households as prescribed by the Prime Minister in each period.

According to a survey conducted from July 18 to 29, out of 1,714 cadres, civil servants, public employees, part-time workers, and workers in Ho Chi Minh City, 575 people needed loans to solve employment problems and 457 people wanted to be consulted and connected to jobs. Among those in need of loans, 486 people were working (198 cadres, civil servants; 126 public employees; 162 workers); 89 people had quit their jobs.

Source: https://hanoimoi.vn/tp-ho-chi-minh-cho-vay-toi-300-trieu-dong-nguoi-doi-voi-can-bo-anh-huong-sau-sap-nhap-714361.html