• An Giang
  • Binh Duong
  • Binh Phuoc
  • Binh Thuan
  • Binh Dinh
  • Bac Lieu
  • Bac Giang
  • Bac Kan
  • Bac Ninh
  • Ben Tre
  • Cao Bang
  • Ca Mau
  • Can Tho
  • Dien Bien
  • Da Nang
  • Da Lat
  • Dak Lak
  • Dak Nong
  • Dong Nai
  • Dong Thap
  • Gia Lai
  • Ha Noi
  • Ho Chi Minh
  • Ha Giang
  • Ha Nam
  • Ha Tinh
  • Hoa Binh
  • Hung Yen
  • Hai Duong
  • Hai Phong
  • Hau Giang
  • Khanh Hoa
  • Kien Giang
  • Kon Tum
  • Lai Chau
  • Long An
  • Lao Cai
  • Lam Dong
  • Lang Son
  • Nam Dinh
  • Nghe An
  • Ninh Binh
  • Ninh Thuan
  • Phu Tho
  • Phu Yen
  • Quang Binh
  • Quang Nam
  • Quang Ngai
  • Quang Ninh
  • Quang Tri
  • Soc Trang
  • Son La
  • Thanh Hoa
  • Thai Binh
  • Thai Nguyen
  • Thua Thien Hue
  • Tien Giang
  • Tra Vinh
  • Tuyen Quang
  • Tay Ninh
  • Vinh Long
  • Vinh Phuc
  • Vung Tau
  • Yen Bai

Millions of households escape from poverty

VGP – Over 31.8 million poor households and other beneficiaries have accessed preferential credit. So far, over 4.5 million poor households succeeded in escaping from poverty.

October 16, 2017 2:58 PM GMT+7

Illustration photo

After 15 years of building and development, the Viet Nam Bank for Social Policies (VBSP) have backed the poor and other social beneficiaries; closely worked with political and social organizations to promote social credit programs in favor of socio-economic development, sustainable poverty reduction, social security, and building of new rural areas. 

As of late September 30, 2017, the bank has a total capital of over VND 179 trillion, almost 25 times higher than the size it was founded 15 years ago.

The bank absorbed VND 27,762 billion (or 15.6% of the total) from the State budget and VND 129,775 billion (or 72.5%) from market, the State Bank of Viet Nam, and Governmental bonds.

Over 31.8 million households got access to preferential credit

As of September 30, 2017, 6.7 million households and social beneficiaries had loan outstanding balance with the bank. 

Under the Government’s Resolution 30a/2008/NQ-CP, poor households and social beneficiaries borrowed VND 13,944 billion in which 457,000 made loan outstanding balance. 

So far, 31.8 million poor households and social beneficiaries have accessed the preferential credit source of which 4.5 million escaped from poverty; 3.4 people found jobs; over 3.5 million poor students and learners borrowed study loans; over 9.9 million water supply and environmental sanitation projects were constructed. In addition, over 11,000 storm shelters  and 528,000 houses for the poor were built. 

Especially, the credit helped cut poverty rate from 17% to 7% in 2001-2005; 22% to 9.45% in 2005-2010; and 14.2% to 4.25% in 2011-2015./.

By Kim Anh