“Poverty reduction work needs to be more flexible in lending policies, avoiding too rigid situations. The Provincial Bank for Social Policies (VBSP) creates maximum favorable conditions for policy beneficiaries to receive preferential loans. treat”. That is the direction of Standing Vice Chairman of Dak Nong Provincial People’s Committee Le Van Chien at the Conference to evaluate the activities of the Provincial Social Policy Bank Representative Board in the first quarter of 2024 taking place on the morning of April 25.
The Provincial Bank for Social Policies needs to advise, consolidate, and redistribute areas to members of the representative board in an appropriate manner, linked to the actual situation of each member’s professional work. On this basis, members promptly, quickly and accurately grasp problems that arise at the facility. The Department of Labor, Invalids and Social Affairs and the Provincial Ethnic Committee closely follow the area and solve problems that arise in borrowing and using capital at the grassroots level.
The Veterans Association coordinates with the Social Policy Bank to research policies and prioritize creating conditions for demobilized soldiers in the area to borrow capital. Units coordinate with VBSP to guide households to borrow capital and use capital, thereby replicating effective business models.
“We do poverty reduction work so we stick close, go deep, go close to the grassroots. Timely disbursement of capital to buy seeds and plants, combined with the diligence and hard work of people, will improve efficiency in policy implementation. How to escape poverty sustainably and avoid falling back into poverty”, Permanent Vice Chairman of the Provincial People’s Committee Le Van Chien emphasized.
By the end of March 2024, the total outstanding outstanding loans through Dak Nong Provincial Bank for Social Policies reached 4,413 billion VND, an increase of 133 billion VND compared to the beginning of the year (equivalent to an increase of 3.12%). The whole province has 72,391 households with outstanding debt.
Many lending programs have achieved high sales such as: lending to households doing business in difficult areas; lending to near-poor households; loans for rural clean water and environmental sanitation programs; employment support loans…
Credit quality in the area is controlled. By the end of the first quarter of 2024, overdue debt at the Provincial Social Policy Bank is 4.1 billion VND, accounting for 0.1% of total outstanding debt. The whole province has 1,600 savings and loan groups. Commune transaction activities ensure efficiency. Coordination of entrusted lending through political and social organizations has been effective…
However, in the first quarter of 2024, the work of consolidating the group management board and transaction work in communes, wards and towns is still limited. Entrusted capital from the budget has not fundamentally met the production and business needs of policy beneficiaries in the area. Advising and strengthening the Representative Board of the Bank for Social Policies at times has not been in accordance with regulations.
