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Policy credit delivers results in Danang
Following the implementation of new strengthening measures, policy credit sources have led to considerable improvements in the quality of life of people in need in the central city of Danang.
In light of Directive 40-CT/TW and Conclusion 06-KL/TW of the Secretariat, the city has instructed relevant departments and sectors to join efforts with Vietnam Bank for Social Policies (VBSP)’s Danang branch to outline policy credit programmes on five-year, three-year, and annual bases.
Efforts have also been made to consistently replenish policy credit sources in a timely and legitimate manner.
For instance, the people’s committees of Hai Chau, Son Tra, and Lien Chieu districts have sent authorised capital sources approximating $35,000 from district-level Peasants Association to VBSP’s Danang branch to lend out to those in need.
In addition, VBSP’s Danang branch has received over $32,000 from a fund to support ex-offenders upon completion of their prison term, of which over $27,500 was lent out.
Danang is currently expediting 26 policy credit programmes. Total outstanding balances from early 2014 until present have amounted to $462 million, with more than 247,160 poor households and other policy beneficiaries receiving loans.
As of June 30, total capital sources at the VBSP Danang branch amounted to over $209 million, an increase of $158 million compared to 2014, showing a 311 per cent jump.
The capital sources from the central budget accounts for 56 per cent of the total, reaching $117 million, growing by 150 per cent to $70.3 million compared to 2014.
The capital sources from the local budget approximated $92 million, representing 44 per cent, up $88 million compared to 2014, growing by a considerable 2,300 per cent.
The people’s committees at all levels have prioritised balancing state budget sources to expedite policy credit programmes.
The contribution of social organisations, businesses, and individuals to complement policy credit sources has mainly taken place in the form of placing deposit accounts by organisations and individuals.
As such, by June 30 deposit outstanding balances of organisations and individuals reached $8.4 million, surging $8.1 million compared to 2014.
Also, by June 30, total outstanding balances of diverse policy credit programmes came to $208.8 million, up $158 million compared to 2014, committed to around 85,920 needy households and other policy beneficiaries, averaging $2,430 per household, up $1,800 compared to 2014.
The outstanding balances serving production, business, and job creation reached $154 million, accounting for around 74 per cent of the total.
The balances serving living requirements came to $54.8 million, making up 26 per cent.
The balances have focused on implementing several major programmes, such as supporting job creation and maintenance with $143 million, and making $38.5 million available to support social housing purchases.
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