Bank assists impoverished households to escape poverty
As much as 1.24 million impoverished households and policy beneficiaries in Hanoi have accessed capital from the Vietnam Bank for Social Policies (VBSP) over the past 12 years, given a combined loan value of over 14 trillion VND (658 million USD).
As much as 1.24 million impoverished households and policy beneficiariesin Hanoi have accessed capital from the Vietnam Bank for SocialPolicies (VBSP) over the past 12 years, given a combined loan value ofover 14 trillion VND (658 million USD).
Of the total, 515,000 impoverished households received 18.5 million VND each.
The capital helped 160,000 households rise out of poverty and createdjobs for 430,000 locals, said Nguyen Kim Phung, Director of the HanoiVBSP branch during a working session with prominent Hanoi leadersrecently.
Meanwhile, 138,000 students have also benefited from VBSP loans and 7,200 houses were built, she said.
Last year, the Hanoi branch offered loans to 120,000 households, including 17,000 disadvantaged and 11,000 students.
The branch also generated jobs for 30,000 locals, upgraded 60,000 cleanwater facilities, and contributed to reducing impoverished householdratio to 1.91 percent in 2014 from 2.66 percent in 2013.
According to Phung, the branch targets 8 percent growth in 2015 and as much as a 10 percent growth in 2020.
However, VBSP General Director Duong Quyet Thang held that loans forimpoverished households remains low, limiting their socio-economicdevelopment and ability to rise out of poverty.
Chairmanof the Hanoi People’s Committee Nguyen The Thao proposed that the HanoiVBSP branch should diversify its capital resources and step upadministrative reform to improve access to capital.-VNA
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The VNA delegation, led by General Director Vu Viet Trang, actively participated in the event, engaging in both professional and diplomatic activities.
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The strategic product, managed and operated by the Vietnam News Agency Digital Media Centre (VNA Media), is an official channel for popularising the Party and State’s information and documents as well as delivering mainstream and trustworthy news to both domestic and international audiences through various kinds of multimedia formats.
Since President Ho Chi Minh founded Thanh Nien (Young People) newspaper in 1925, the Vietnamese revolutionary press has become the voice of the people. During the resistance war against the colonialists, journalists took great personal risks to inspire patriotism and the will of rising up against foreign invaders.
The total investment exceeded 319 billion VND (12.2 million USD), including over 261 billion VND from the state budget and 57.5 billion VND mobilised from businesses, organisations, and individuals.
