Households close to poverty line to get preferential loans

Prime Minister Nguyen Tan Dung has signed a preferential loan policy that will help uplift the conditions of households that are living close to the poverty line.

From April 16, households living close to the poverty line will have access to preferential loans channeled through the Bank for Social Policies, to start small businesses and improve their living standards.

Interest rates on these loans will not exceed 130 percent and the conditions and procedures to get the loans will be the same as for other loans to poor households.

Under this policy, poor households will get the necessary assistance to uplift themselves from unfavorable living conditions and reduce poverty. Currently, the government has also launched health insurance schemes for poor households.

Terms of lending by the Bank for Social Policies will be agreed in accordance with the production cycle, occupations, income and ability to repay.

The Prime Minister’s decision will help raise living standards of the poor in a sustainable manner.

Source SGGP, translated by Dan

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