The total outstanding debt of the Social Policy Bank's credit programs is over 76,500 customers.

The Bac Ninh Provincial Branch of the Social Policy Bank proactively works with local Party committees and authorities to assess the effectiveness of policy credit in the area, implement policy credit to serve multidimensional poverty reduction, and continue to promote the implementation of Directive 40 and Conclusion No. 06. Social policy credit funds are increasingly receiving attention from local Party committees and authorities.

When borrowing capital, poor households do not have to mortgage assets, and the loan procedures are simple and convenient, contributing to helping households borrow capital for business, escape poverty sustainably, and create jobs for workers. Especially, disadvantaged students can continue their studies thanks to preferential loans…

To date, local government budget funds entrusted to banks to supplement lending capital in the province have reached VND 619.5 billion. In the first six months of 2024 alone, this represents an increase of VND 104 billion compared to 2023, the highest increase in the past 10 years. The total outstanding loans under credit programs as of the end of June reached over VND 4,000 billion, with 76,536 customers, an increase of over VND 110.4 billion compared to the end of 2023.

Specifically: the loan program for job creation increased by 201 billion VND, loans for students increased by 12.2 billion VND, and the social housing loan program increased by 15.8 billion VND.

The good news is that the three credit programs for lending to poor, near-poor, and newly-escaped-from-poverty households have seen a reduction of 53.7 billion VND. The reason for this decrease in outstanding loans is the significant reduction in the number of poor, near-poor, and newly-escaped-from-poverty households, confirming the crucial importance of preferential policy capital.

It is clear that the investment resources from programs and policies have further strengthened the comprehensive and modern development of rural infrastructure, creating momentum for people to rise out of poverty sustainably and work together to build their homeland.

With the involvement of the entire political system, over the past 10 years, policy credit has made a significant contribution to the socio-economic development of Bac Ninh province. Preferential credit programs implemented by the Social Policy Bank, along with other policies, have contributed to reducing the poverty rate in the province from 3.53% in 2015 to 0.59% in 2023, and the near-poverty rate from 3.6% in 2015 to 1.02% in 2023. Bac Ninh province aims to eliminate poverty by the end of 2024.