THE SOCIALIST REPUBLIC OF VIET NAM
Government News
Disadvantaged ethnic households to take free-interest loans for production
VNGOVNet – The PM has just signed Decision 32/2007/QĐ-TTg on giving capitals to disadvantageous ethnic minority households to promote production. Accordingly, to develop production, stabilize life and overcome poverty, these households can be lent with VND 5 million per household in maximum. And they are exempted from giving security and fulfilling administrative procedures.
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This Decision is applied to the ethnic minority households (including the families with one ethnic minority spouse) residing in disadvantaged communes (wards or towns) as stipulated in Decision 30/2007/QĐ-TTg dated on March 5, 2007; having a monthly per capita income below VND 60,000; possessing a property of total worth below VND 3 million; and nursing some plan on production while lacking capital. They must have a legal residence registration made by the communal People’s Committee and certified by the district People’s Committee and a plan to use loans for production or business certified/supported by local authorities and socio-political organizations.
The PM assigned the Social Policies Bank to instruct the process and procedures on giving loans in an simple, clear and easy manner; set up a disbursement plan and submit it to the Ministry of Finance; and make a report every six months to the PM.
By Hồng Phương
(Source: Decision 32/2007/QĐ-TTg)