Vietnam Bank for Social Policies to provide loans to poor

The Vietnam Bank for Social Policies announced a credit plan for 2013 by which VND8,300 billion (US$398,000) will be allocated for loans to the poor and beneficiaries of social welfare policies.

The bank plans to issue bonds, strengthen mobilization of capital from residents and resolve remaining debts. The expected total capital for the year will reach VND130,326 billion ($6,253,000).
By the end of 2012, the bank’s capital was around VND119,026 billion ($5,709,686), an increase of VND13,536 billion from previous year, and loan dispersal was at VND33,806 billion.

The bank provided loan to 12.3 million poor people and beneficiaries of social welfare policies, and to students for continuing their education.

By H. Yen - Translated by Uyen Phuong

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