Using old capital to solve difficulties for new credit programs

On the morning of June 24, at the 9th Session of the 15th National Assembly, the Government proposed allowing the Vietnam Bank for Social Policies to continue using all the budget capital recovered from the ended policy credit programs to re-lend. The Economic and Financial Committee agreed with this proposal, saying that this is a flexible and practical solution.

Accordingly, the Government proposed to allow the Vietnam Bank for Social Policies (VBSP) to continue using the entire capital of VND 6,068.961 billion. This is capital from policy credit programs (TDCS) provided by the state budget (NSNN) that have ended. Of this, VND 3,144.499 billion is expected to be recovered by April 30, 2025. The amount of VND 2,924.462 billion is continuing to be recovered according to the credit contract.

The report presented by Minister of Finance Nguyen Van Thang stated that the TDCS programs in the 2008-2017 period helped nearly 1.1 million households access preferential loans. However, these programs have expired. According to the State Budget Law, this capital must be repaid.

Minister of Finance Nguyen Van Thang presented the Report at the Session. (Photo: Quochoi.vn)

Meanwhile, the capital demand for other TDCS programs by the end of 2025 is very large, estimated at about 31,727 billion VND. The state budget capital source only meets a part. Specifically, the social housing loan program and the socio -economic development program for ethnic minority areas are seriously lacking in resources.

Therefore, the Government proposes that the National Assembly allow the use of recovered and future capital to supplement capital-deficient programs, especially the social housing program according to Decree No. 100/2024/ND-CP.

After reviewing this content, the National Assembly's Economic and Financial Committee expressed its agreement. The Committee assessed that the Government's proposal was consistent with the Party and State's policies and resolved the urgent need for capital. Chairman of the Economic and Financial Committee Phan Van Mai said that according to legal regulations, only the National Assembly has the authority to decide on this matter. Therefore, the Government's submission to the National Assembly was within its authority.

The Economic and Financial Committee proposed that the National Assembly add this content to the Joint Resolution of the 9th Session. At the same time, the Committee proposed that the Government take responsibility for the accuracy of the data and direct the VBSP to manage and use capital effectively and in accordance with regulations.

The majority of National Assembly delegates attending the meeting agreed with the above policy.

Source: https://thoidai.com.vn/dung-von-cu-go-kho-cho-cac-chuong-trinh-tin-dung-moi-214427.html