Total outstanding loans of trust credit program reaches more than VND 2,500 billion
(BNP) - In the period 2015 - 2020, Provincial Social Policy Bank and socio-political organizations implemented the entrustment methods for loans for poor households and beneficiaries, contributing to implement well the National target program on sustainable poverty reduction, ensuring social security, building a new countryside.
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According to Provincial Social Policies Bank, as of the end of August 2020, the total outstanding loans of credit programs under the method of trust through 4 socio-political organizations reached more than VND 2,500 billion, an increase of more than VND 800 billion compared to 2014; average growth rate is over 7%/year. In particular, the trust balance through Farmers Union accounted for 28.6%, Women's Union accounted for 53%, Veterans' Union accounted for 13.1% and Youth Union accounted for 5.3%.
Currently, Bac Ninh has nearly 2,200 savings and loan groups with more than 78,600 households with outstanding loans; the average loan balance is nearly VND 1.2 billion/group; overdue debt in the total trust balance through socio-political organizations is 0.25%; rate of savings and loan groups with deposit balance reached 99.95% ...
Through the method of trust, the synergy of the entire socio-political system has been mobilized from the central to grassroots levels to convey the State's capital to the poor and other policy beneficiaries, thereby, contributing to improving income, stabilizing life, reducing the rate of poor households in the whole province in 2019 to 1.27%.
