Social policy credit in Tam Ky reaches outstanding debt of over 424 billion VND

(QNO) - This afternoon, January 10, the Board of Directors of the Vietnam Bank for Social Policies (VBSP) in Tam Ky City held a conference to review policy credit activities in 2023 and deploy tasks for 2024.

Mr. Nguyen Hong Lai - Vice Chairman of Tam Ky City People's Committee, Head of the Board of Directors of Tam Ky City Social Policy Bank said that the total policy capital in the area is currently more than 425.6 billion VND, with outstanding debt of more than 424 billion VND.

In 2023, social policy credit activities in the area were promptly directed by local Party committees and authorities and smoothly implemented to the grassroots level. The assigned plan targets in 2023 were excellently completed, with outstanding loans growing by more than VND 89 billion (growth rate of more than 26.6%, outstanding loan growth ranked second in the province).

In 2023, the budget capital created conditions for 2,218 poor and policy households to borrow capital, contributing to creating jobs for 1,635 workers; helping 182 students in difficult circumstances to borrow capital for their studies. Built and renovated 490 clean water and sanitation facilities; built 139 new social housing houses according to Decree 100...

Policy credit comes to people in Tam Thang commune (Tam Ky). Photo: Q.VIET — Policy credit sources help people in Tam Thang commune (Tam Ky) develop production. Photo: Q.VIET

The Board of Directors of the Tam Ky City Social Policy Bank has approved the targets and directions for implementation in 2024. Strive to increase capital and credit balance by 10% or more, promptly meeting the capital needs of poor households and policies. Continue to maintain and maintain stable and sustainable credit quality, with the overdue debt ratio at a level lower than 0.08%. The interest collection rate reaches 100% of the planned interest in 2024; 100% of customers borrowing capital in 2023 participate in monthly savings through the group, completing and exceeding the target of mobilizing savings through the savings & loan group.

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