Minister of Finance: 'In the past, we had to manually calculate numbers like this and that, but now banks can't hide them'

ngân hàng - Ảnh 1. — Minister of Finance Nguyen Van Thang - Photo: National Assembly

Presenting the report, Minister of Finance Nguyen Van Thang said that from 2008 to 2017, the state budget allocated more than 6,068 billion VND to the Social Policy Bank.

This capital is to support ethnic minorities, provide housing loans and support poor districts to promote labor export.

Proposal for banks to use more than 6,000 billion VND

As of April 30, the bank had recovered VND3,144.4 billion and the remaining debt to be recovered according to the credit contract signed with customers was VND2,924.4 billion. This program helps 1.1 million poor, near-poor households and ethnic minorities access capital.

Nearly 400,000 people have received loans to improve their lives, more than 11,000 people have received loans to work abroad, nearly 700,000 have received loans to build social housing, and more than 700,000 houses have been built.

However, according to the report of the Social Policy Bank, the demand for loans from the program is very large, up to 31,727 billion VND. Of which, the demand for necessary budget capital is 16,727 billion VND.

On that basis, the Government proposes to continue using the entire budget allocated to lend credit programs at policy banks.

The Prime Minister decides on the specific allocation level of debt recovery capital based on actual needs. From there, he will consider prioritizing capital allocation to implement the socio-economic development loan program for ethnic minority areas.

During the review, Chairman of the Economic and Financial Committee Phan Van Mai emphasized the need to allocate a budget for the policy bank, and agreed to use all the money for the Social Policy Bank.

However, the Government needs to review and take responsibility for the accuracy of data, lending and debt collection situations, and the amount of budget allocated to credit programs, ensuring proper and effective use, avoiding profiteering, loss, waste, and negativity.

Discussing at the meeting hall, delegate Tran Hoang Ngan (HCMC) highly appreciated the efforts of the policy bank to provide capital for the poor and those in difficult circumstances to create jobs and contribute to ensuring social security.

However, the delegate suggested that the Government should further explain that with the recovered amount of more than 3,144 billion VND, the settlement will be made on this amount or the total amount of 6,068 billion VND.

Why stop the program package?

At the same time, delegate Pham Van Hoa (Dong Thap) said that this is a very humane policy. Although the amount of 6,068 billion VND is not large for the budget, for ethnic minorities, the poor, and disadvantaged households, it is a large number to help eliminate poverty and stabilize their lives.

Therefore, Mr. Hoa believes that there should be a policy to continue lending, as well as consider suitable lending subjects, ensuring the right subjects. At the same time, it is necessary to note that the rate of overdue debt reporting must not exceed 3%, avoiding cases of using money for the wrong purpose, with no possibility of recovering capital.

Explaining, the Minister of Finance affirmed that the entire principal of more than 6,000 billion VND is 100% guaranteed and there is no “loss of any budget capital”. Because the current bad debt ratio is 2.68%, risk provisions have been set aside.

Regarding the delegate's proposal to continue the program, the Minister said that the end is to implement other programs that are more meaningful and effective.

Especially when implementing the two-level local government model, no longer maintaining the district level, many activities such as housing loan support, social security programs, support for poor households and ethnic minorities... are being implemented.

Mr. Thang also affirmed that he is completely assured about the efficiency of capital use of the policy bank. Because the outstanding debt of this bank is extremely low, less than 1% compared to commercial banks. When the policy bank lends tightly, the people are responsible for using capital, lending associated with production, business and farming models with the support of the State.

"Almost all areas strictly control bad debt, this statistic is extremely accurate. In the past, we could calculate it manually, the numbers were like this and that, but now with information technology and automation, banks cannot hide it anymore" - Mr. Thang affirmed.

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Source: https://tuoitre.vn/bo-truong-tai-chinh-xua-hach-toan-bang-tay-so-the-no-the-kia-chu-gio-ngan-hang-khong-giau-duoc-2025062412024404.htm