Social loan liabilities accelerate to VND5 trillion

The Vietnam Bank for Social Policies’ liabilities totaled VND126.66 trillion in the first half this year, up nearly VND5 trillion (US$235 million) over the same period last year, said director general Duong Quyet Thang at a meeting on July 10.

Of the total, the loan liability to households living near the poverty line increased VND6,527 billion, clean water and rural environmental hygiene VND1,731 billion and production and trading units in difficult areas VND294 billion.

The bank has cut interest rates in some credit programs to the poor and those receive under the preferential treatment as per instruction of the Prime Minister. It has also expanded loan limits to poor households and those living near the poverty line.

At the meeting, Governor of the State Bank of Vietnam Nguyen Van Binh instructed the Vietnam Bank for Social Policies to mobilize sufficient capital for such credit programs. It should also coordinate with local authorities to ensure that the loans will come to the right beneficiaries.

By Ham Yen – Translated by Hai Mien

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