During his Wednesday meeting with representatives from the Da Nang Branch of the Viet Nam Bank for Social Policies (VBSP), municipal People’s Committee Vice Chairman Ho Ky Minh commended VBSP Da Nang’s efforts to effectively deploy social policy credit in the city over recent years.

He also took the opportunity to ask VBSP Da Nang to actively coordinate with local authorities to raise public awareness about the use of capital, and the strict management of loan sources.

According to a spokesperson for VBSP Da Nang, as of November 15, the city’s total social policy credit capital had been VND 3,310 billion, a rise of VND 444 billion against 2020. In terms of capital use, 22,876 people had been given loans of VND1,119 billion, and debt collection had reached VND686 billion. The total outstanding loans had been VND3,294 billion, reaching 97% of the year’s target.

Also on the same day, Vice Chairman Minh worked with the People's Committee of Hoa Quy Ward in Ngu Hanh Son District on social policy credit activities.

Mr Minh acknowledged and highly appreciated VBSP Da Nang as well as the VBSP transaction office in Ngu Hanh Son District for timely providing preferential loan packages for families living below and near the city's poverty thresholds households and other social policy beneficiaries in the locality.

He added there will be a surge in the demand for loans from local residents in the coming time. He, therefore, directed VBSP Da Nang in general and the VBSP transaction office in Ngu Hanh Son District in particular, to effectively provide more credit programmes for those in need, thereby contributing to ensuring the city’s social welfare and economic growth.

Reporting by MAI QUE - Translating by MAI DUNG