HCM City (VNA) – Ho Chi Minh Cityhas provided preferential loans for more than 1.3 million poor households andsocial welfare beneficiaries from the Vietnam Bank for Social Policies (VBSP)branch in the city.
The information was revealed at a conference inHCM City on October 12 to review the implementation of preferential credit policiesin 2003-2017.
The VBSP reported that its branch in HCM Cityhas helped more than 225,000 families overcome poverty over the past 15 yearswhile generating jobs for more than 220,000 labourers and helping 88,000students study.
Director Tran Van Tien said as of August 31,2017, the total credit of the VBSP’s branch in HCM City exceeded 2.8 trillionVND (over 123 million USD), nearly 20 times more than in 2003 when it wasestablished.
The effectiveimplementation of social credit policies has helped reduce poverty andunemployment and narrowed gaps between the rich and the poor, participantssaid.
Vice Chairwoman of the municipal People’sCommittee Nguyen Thi Thu urged the VBSP branch in HCM City to take moremeasures to sustainably reduce poverty.
She suggested improving the quality ofpreferential credit loans and controlling the ratio of overdue debts as well asincreasing financial inspections.-VNA
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