Banks bet on consumer credit growth - illustration photo/ Shutterstock The State Bank of Vietnam (SBV) has urged credit institutions (CIs) and consumer finance companies to promote consumer credit packages for the last four months of this year. This aims to make significant strides to offset the adverse impacts of the ongoing health crisis through lower loan interest rates, and fast and simple lending procedures in accordance with the law. … [Read more...] about Banks bet on consumer credit growth
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Tran Lan Phuong, VBSP Deputy General Director, said that in 2019, the policy credit benefited nearly 2.2 million poor households and other policy beneficiaries. This was one of many outstanding achievements of the bank last year, contributing to supporting poor and near-poor households and those who have just got out of poverty to raise incomes, reduce poverty sustainably, and promote socio-economic development.credit programmes, the bank has implemented synchronous measures to consolidate and improve credit quality. As of December 31, 2019, overdue and charged-off debts were over 1.43 trillion VND, accounting for 0.69 percent of the total outstanding loans. policy credit and the increasingly efficient use of capital by the poor and other policy beneficiaries. … [Read more...] about Policy credit contributes to repelling black credit in poor rural areas
The figures were announced at the meeting of the executive committee of HCM City Federation of Labour on July 23. In the first six months, a total of 15,200 firms had to scale down business, cut staff or go bankrupt. As a result, 150,000 employees were laid off, had their salaries cut or lost jobs. Most of them are in the service and manufacturing industry because of the lack of materials and customers. The city authorities, organisations and individuals have launched many programmes to help the employees to overcome difficult times. HCM City Federation of Labour supported over 18,000 members with individual payments of VND1.2m (USD52) each. They also encouraged landlords to lower rent for over 57,600 rooms and waive the fees for 200 rooms when firms had to scale down businesses. They also worked with the Department of Labour, Invalids and Social Affairs and the Vietnam Association of High-Quality Goods to provide 7,000 meals to the workers who lost their jobs due to Covid-19 from … [Read more...] about HCM City unions provide post-Covid-19 support
During the five-year implementation of Directive No. 40-CT/TW, more than 10 million households have gained access to policy loans, with 2 million households escaping from poverty sustainably. Thanks to the loans, nearly 3.2 million households have accessed clean water and 131,000 built their own houses. Close to 318,000 students can continue with their study. Nearly 1 million people have gained jobs and 21,000 others can work abroad. … [Read more...] about New breakthroughs expected to be made in poverty reduction
When being asked about Mien, one of the typical poor people in the commune, people here said her family is very poor but their will is great. Her three children have pursued tertiary education with loans from the Vietnam Bank for Social Policies. The one-floor wooden house is quite old, as if it is telling a story about the situation of Mien's family. … [Read more...] about When the Party’s Directive 40 spreads in life!