On January 19, the Board of Directors of the Vietnam Bank for Social Policies (VBSP) held a conference to evaluate the performance results in 2023 and deploy tasks in 2024.

Comrade Tong Quang Thin, Member of the Provincial Party Standing Committee, Permanent Vice Chairman of the Provincial People's Committee, Head of the Representative Board chaired the conference.

In 2023, the Board of Directors of the Provincial Social Policy Bank actively advised the Provincial Party Committee, People's Council, and People's Committee to effectively implement policy credit programs. By the end of 2023, the total policy credit capital in the area reached VND 3,880 billion, an increase of 17% compared to 2022. Of which, the capital entrusted locally increased by VND 97 billion compared to 2022, reaching VND 324 billion, accounting for 8.4% of the total capital; mobilized capital also increased by VND 74 billion, reaching VND 521 billion, accounting for 13.4% of the total capital.

Loan turnover in 2023 reached VND 1,182 billion, with 24,523 poor and near-poor households and policy beneficiaries receiving loans. Thus, as of December 31, 2023, the total outstanding policy credit balance reached VND 3,875 billion with 84,070 customers with outstanding loans, completing 100% of the plan.

The lending capital of the Vietnam Bank for Social Policies has actively and effectively contributed to the goals of socio-economic development, poverty reduction, and new rural construction in the province. During the year, the capital contributed to creating jobs for nearly 10,000 workers, helping 1,500 students in difficult circumstances to borrow capital for their studies, building and renovating nearly 22,000 clean water and rural environmental sanitation works; 200 houses for poor households and policy beneficiaries...

In particular, with the close coordination between the Social Policy Bank and the entrusted socio-political organizations, departments, branches, and authorities at all levels in appraising and guiding households to use loans effectively, as well as implementing well the work of urging, collecting, handling, and managing debts, credit quality continues to be maintained stably. The rate of overdue debt accounts for only 0.17% of total outstanding debt (lower than the national average of 0.57%).

Regarding the tasks in 2024, the Board of Directors of the Provincial Social Policy Bank strives to: Total outstanding debt reaches 4,241 billion VND, overdue debt and debt forgiveness ratio is below 0.2%. Ensure that 100% of poor, near-poor, newly escaped poverty households and other policy beneficiaries with needs and conditions have access to products and services provided by the Social Policy Bank.

At the conference, delegates focused on discussing and pointing out difficulties and obstacles in the implementation of policy credit programs and recommending and proposing a number of solutions to effectively carry out tasks in 2024.

In his concluding remarks, the Standing Vice Chairman of the Provincial People's Committee acknowledged and commended the results achieved by the Provincial Board of Directors of the Vietnam Bank for Social Policies in 2023. He noted: In the coming time, the Board of Directors of the Vietnam Bank for Social Policies at all levels will continue to promote propaganda on preferential credit programs so that subjects can access capital sources for economic development and ensure social security; continue to advise and effectively organize the implementation of Directive No. 40-CT/TW, Conclusion 06-KL/TW of the Secretariat and Decision 1630/QD-TTg of the Prime Minister on strengthening the Party's leadership over social policy credit.

Well implement the tasks and solutions to implement the development strategy of the VBSP to 2030 in Ninh Binh province according to Decision No. 05/QD-TTg of the Prime Minister and Plan 89/KH-UBND of the Ninh Binh Provincial People's Committee.

In particular, the focus is assigned to the Department of Finance and the Department of Planning and Investment to advise the Provincial People's Committee on capital allocation to ensure that the ratio of capital from the local budget entrusted to the VBSP reaches 12%. In addition, inspection and supervision work is strengthened to promptly detect problems and take measures to remove difficulties at the grassroots level...

Nguyen Luu - Minh Duong