The Vietnam Bank for Social Policies (VBSP) reported that the bank has provided loans to over 31.8 million poor households and policy beneficiaries since 2002.
At a transaction point of Vietnam Bank for Social Policies (Source: VNA)
Hanoi(VNA) – The Vietnam Bank for Social Policies (VBSP) reported that the bank hasprovided loans to over 31.8 million poor households and policy beneficiariessince 2002.
The funds helped nearly 4.5 million households escape from poverty, about 3.4million labourers have jobs and 3.5 million students cover their study.
Capital from the bankhas been used to build 9.9 million rural water supply and sanitation works,nearly 633,000 houses for the needy and over 11,000 storm shelters in thecentral region.
As of September 30, theVBSP’s total outstanding balance was 169 trillion VND (7.43 billion USD), 24times higher than that in 2002 when the bank was established, with growth of19.2 percent each year.
Thanks to credits, povertyratio dropped to 4.25 percent in 2015 from 22 percent in 2005.
The bank’s capital bythe end of September was 179 trillion VND (7.87 billion USD), 25 times higherthan that in 2002, 15.6 percent of which was from the State budget.
Its overdue and charged-offdebts fell to only 0.81 percent as of September 30.
The bank’s widenetwork and simple procedures have helped the poor access capital easily withlow cost.
In the future, theVBSP aims to support all poor households and other needy customers nationwide,with a credit growth of 10 percent and overdue debts accounting for less than 2percent.-VNA
More than 1,473,000 ethnic minority households across the country have been benefiting from preferential credit programmes with total loans worth up to 40 trillion VND (over 1.76 billion USD).
Over 30 million poor households and other welfare beneficiaries have accessed soft loans from the Vietnam Bank for Social Policies (VBSP) as of the end of August 2017, according to the VBSP.
Ho Chi Minh City has provided preferential loans for more than 1.3 million poor households and social welfare beneficiaries from the Vietnam Bank for Social Policies (VBSP) branch in the city.
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At a transaction point of Vietnam Bank for Social Policies (Source: VNA) 
