The Da Nang branch of the Vietnam Bank for Social Policy (VBSP) entered into a twinning agreement with the Savannakhet branch of the Lao Bank for Social Policy (LBSP) in Da Nang on Tuesday afternoon.  Witnessing the event were the municipal People’s Committee Vice Chairman, Mr Huynh Duc Tho, and the Deputy Consul General of Laos in Da Nang, Mr Amphay Souvannaseng.

Under the agreement, the two branches will frequently share experiences to improve the efficiency of implementing credit programmes for social policy families in their localities.  They are to identify beneficiaries, lending methods, and consultancy services at transaction locations.

By late August, the city branch of VBSP had provided 12 credit programmes worth 1.16 trillion VND for about 80,000 borrowers.  The total assets of the Savannakhet branch of LBSP has hit over 619 billion VND and the bank’s total credit assets are valued at over 520 billion VND.  Of this, lending to the agricultural sector has accounted for 83.39% of the bank’s total loans.