On March 25, the Provincial Branch of the Vietnam Bank for Social Policies (VBSP) coordinated with 4 entrusted socio-political organizations to organize a conference to summarize the emulation covenant on implementing social credit entrustment activities in 2023 and sign the emulation covenant in 2024.

In 2023, the provincial branch of the Vietnam Bank for Social Policies and 4 entrusted socio-political organizations (Veterans' Association, Farmers' Association, Women's Union, Youth Union) actively coordinated to implement policy credit activities in the area. Thereby, helping to transfer capital to the right beneficiaries, ensuring timeliness, publicity, transparency, meeting the capital needs for production and business of poor households, near-poor households and other policy beneficiaries.

In particular, the effectiveness of preferential credit programs under Resolution No. 11/NQ-CP of the Government on socio-economic recovery and development has contributed positively to the local socio-economic recovery and development after the COVID-19 pandemic. The quality of policy credit in the area has been increasingly improved. The planning targets and tasks of the 4 entrusted organizations and the VBSP set out during the year have all exceeded the plan.

Specifically: Total capital as of December 31, 2023 reached VND 3,880 billion, an increase of VND 563 billion compared to 2022; total outstanding debt is VND 3,875 billion, of which entrusted debt accounts for 98.6%. Overdue entrusted debt decreased to 0.13%. The quality of operations of Savings and Loan Groups has been improved, the whole province has 2,137 Savings and Loan Groups classified as good (accounting for 96.3%). The People's Credit Fund and the Unions at all levels have completed 100% of the inspection and supervision plan for 2022. The quality of operations at commune transaction points has been maintained and improved.

Policy credit capital has helped 24,523 poor households and other policy beneficiaries to borrow capital, contributing to reducing the poverty rate in the province from 3.05% at the end of 2022 to 1.86% at the end of 2023.

In addition, social policy credit capital has also supported investment in production and business, creating jobs for nearly 10,000 workers; helped more than 1,500 students in difficult circumstances to borrow money to study; built and renovated nearly 22,000 clean water and rural environmental sanitation works; supported the construction of over 200 houses for poor households and policy beneficiaries...

Discussing at the conference, delegates specifically assessed and clarified the results of coordination in implementing policy credit delegation activities; pointed out difficulties, shortcomings and lessons learned to better implement policy credit in the coming time.

At the conference, the provincial branch of the Social Policy Bank and 4 entrusted socio-political organizations signed a competition agreement for 2024 with specific targets: Total capital strives to reach 4,241 billion VND, total outstanding debt strives to reach 4,241 billion VND, an increase of 366 billion VND compared to December 31, 2023. Strive for the ratio of overdue debt and debt write-off to be below 0.2%. Complete 100% of the inspection and supervision plan of the Social Policy Bank and the Unions at all levels in 2024. Maintain and improve the quality of operations at commune transaction points, strive for the transaction rate with customers at commune transaction points to reach over 97% of the total number of transactions.

On this occasion, many collectives and individuals with outstanding achievements in implementing the emulation covenant to implement social credit entrustment activities in 2023 were commended by the Provincial Branch of the Vietnam Bank for Social Policies.

Nguyen Luu-Anh Tuan