Bank for Social Policies granted additional VND 1 trillion to charter capital

The Vietnam Bank for Social Policies on April 10 received a grant of VND 1 trillion to its charter capital in 2008.

The money will be used to provide loans to poor households and priority policy beneficiaries in remote and ethnic inhabited areas to help them develop production, husbandry, thus contributing to fighting hunger and poverty.

The move follows a decision by the Prime Minister dated January 22, 2008 which give approval to the use of capital from the project PRSC6 which aims to reduce poverty to grant to the Vietnam Bank for Social Policies.

Accordingly, the bank will receive VND 1 trillion annually for the two years of 2007 and 2008.

Thus, by April 10, the bank’s total charter capital has reached VND 8 trillion.

ND

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