With the participation of the entire political system, up to now, the Bac Ninh Provincial Social Policy Bank Branch has 116 transaction points in communes, wards and towns, helping poor households and policy beneficiaries access loans more conveniently, contributing to pushing back the situation of usury and black credit in the locality.

To ensure resources for implementing social policy credit, up to now, the Vietnam Bank for Social Policies has transferred more than 3,400 billion VND for Bac Ninh to implement lending for policy credit programs.

The Bac Ninh Provincial Social Policy Bank Branch 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 capital is increasingly receiving attention from local Party committees and authorities.

When borrowing capital, poor households do not have to mortgage assets, along with simple and convenient lending procedures, contributing to helping households borrow capital to do business, escape poverty sustainably, and create jobs for workers. Especially students with difficult circumstances can borrow preferential capital to continue their studies...

To date, the local budget capital entrusted to banks to supplement lending capital in the province has reached 619.5 billion VND. In the first 6 months of 2024 alone, it increased by 104 billion VND compared to 2023, the highest increase in the past 10 years. The total outstanding balance of credit programs by the end of June reached more than 4,000 billion VND, with 76,536 customers, an increase of more than 110.4 billion VND compared to the end of 2023.

In which: The job creation loan program increased by 201 billion VND, student loans 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 poor, near-poor, and newly escaped poverty households have decreased by VND53.7 billion. The reason for the decrease in outstanding debt is that the number of poor, near-poor, and newly escaped poverty households has decreased sharply, confirming the importance of preferential policy capital.

It is clear that from the investment resources of programs and policies, it adds strength to complete the synchronous and modern rural infrastructure, creating motivation for people to rise up to escape poverty sustainably and join hands to build their homeland.

With the participation of the entire political system, over the past 10 years, policy credit has made an important contribution to the socio-economic development of Bac Ninh province. Preferential credit programs implemented by the Vietnam Bank for Social Policies, 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-poor household rate from 3.6% in 2015 to 1.02% in 2023. Bac Ninh province strives to have no poor households by the end of 2024.