Ben Thanh market in Ho Chi Minh City (Photo: VNA)

HCM City (VNA)
– Ho Chi Minh City
has provided preferential loans for more than 1.3 million poor households and
social welfare beneficiaries from the Vietnam Bank for Social Policies (VBSP)
branch in the city.

The information was revealed at a conference in
HCM City on October 12 to review the implementation of preferential credit policies
in 2003-2017.

The VBSP reported that its branch in HCM City
has helped more than 225,000 families overcome poverty over the past 15 years
while generating jobs for more than 220,000 labourers and helping 88,000
students 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 trillion
VND (over 123 million USD), nearly 20 times more than in 2003 when it was

The effective
implementation of social credit policies has helped reduce poverty and
unemployment and narrowed gaps between the rich and the poor, participants

Vice Chairwoman of the municipal People’s
Committee Nguyen Thi Thu urged the VBSP branch in HCM City to take more
measures to sustainably reduce poverty.

She suggested improving the quality of
preferential credit loans and controlling the ratio of overdue debts as well as
increasing financial inspections.-VNA