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Preferential credit helps lift over 1.4 million households above poverty

VGP – Nearly eight million turns of poor households accessed to preferential credit loans worth VND 221,693 billion, provided by the Viet Nam Bank for Social Policies (VBSP), between 2016 and August 21, 2019.

September 23, 2019 4:19 PM GMT+7

Deputy Prime Minister Vuong Dinh Hue (3rd from left) attends the national video conference on the role of preferential credit in poverty reduction in Ha Noi on September 23, 2019. Photo: VGP

The figure was released at the national video-conference on the role of preferential credit in poverty reduction, held in Ha Noi on Monday under the chair of Deputy Prime Minister Vuong Dinh Hue.

Duong Quyet Thang, VBSP General Director said preferential credit has helped lift over 1.4 million households above poverty line and create 775,000 jobs, including sending more than 17,000 guest workers abroad in the reviewed period.

The bank has provided preferential credit to nearly 200,000 students of poor households to cover education expenditures.

In addition, nearly 4.9 million sanitary water supply works and over 108,000 houses have been built for the poor households with this kind of credit, he added.

So far, the bank has established about 11,000 stations at communal level and some 200,000 credit and saving groups across the country, with priority given to residents in mountainous and disadvantaged areas.

Since its establishment 17 years ago, the bank has proved to be an important tool for the Government to achieve poverty reduction goals./.

By Huong Giang