Tran Lan Phuong, VBSP Deputy General Director, said that in 2019, the policy credit benefited nearly 2.2 million poor households and other policy beneficiaries. This was one of many outstanding achievements of the bank last year, contributing to supporting poor and near-poor households and those who have just got out of poverty to raise incomes, reduce poverty sustainably, and promote socio-economic development.credit programmes, the bank has implemented synchronous measures to consolidate and improve credit quality. As of December 31, 2019, overdue and charged-off debts were over 1.43 trillion VND, accounting for 0.69 percent of the total outstanding loans. policy credit and the increasingly efficient use of capital by the poor and other policy beneficiaries. … [Read more...] about Policy credit contributes to repelling black credit in poor rural areas
Director of the VBSP in Quang Tri Nguyen Duc Dong said that many projects lent money to beneficiaries, but when they concluded, the management boards of some projects had returned to their home country and failed to recovery the capital. Therefore, the reclaiming of capital from the projects helps the province evaluate their effectiveness and learn lessons regarding investment methods, while increasing resources for the locality itself to support locals in building sustainable livelihood. … [Read more...] about Capital convergence helps boost poverty reduction
When being asked about Mien, one of the typical poor people in the commune, people here said her family is very poor but their will is great. Her three children have pursued tertiary education with loans from the Vietnam Bank for Social Policies. The one-floor wooden house is quite old, as if it is telling a story about the situation of Mien's family. … [Read more...] about When the Party’s Directive 40 spreads in life!
The loans have also been used in support of start-ups. With 400 million VND from the VBSP, Nguyen Chuong Phi, Director of Quang Minh Phuoc Co., Ltd, in the southern province of Dong Thap built a facility that produces 7-8 tonnes of dried sweet potato and banana each month, and creates jobs for 20 labourers, including more than 10 permanent ones, each with monthly salary of 5 million VND. … [Read more...] about New breakthroughs expected to be made in poverty reduction
The two sides agreed to promote cooperation in the areas of economy, trade and investment; maritime cooperation; counter-terrorism and fighting transnational crime; connectivity; science-technology and innovation; natural disaster prevention, control and mitigation; climate change response, cultural and people-to-people exchange, and narrowing development gaps. Regarding response to COVID-19, India affirmed to support ASEAN in overcoming the pandemic's consequences and promoting sustainable recovery and work closely with ASEAN in research and production of COVID-19 vaccines and treatment medicines. ASEAN appreciated India's active support for regional cooperation, including capacity building, narrowing the development gaps, and earmarking one billion USD in credit to support projects connecting the two sides. Addressing the event, Deputy Prime Minister and Foreign Minister Pham Binh Minh emphasised the importance of the ASEAN-India strategic partnership and affirmed India as a … [Read more...] about ASEAN step up cooperation with EU, India