The Viet Nam Bank for Social Policies (VBSP) held a nationwide teleconference on the implementation of the national government's Resolution No. 11/NQ-CP on the Socio-economic Development and Recovery Programme. Deputy Prime Minister Le Minh Khai chaired the event.

Standing Vice Chairman of the Da Nang People's Committee Ho Ky Minh presided at the Da Nang broadcast point.

Addressing the virtual event, Deputy Prime Minister Khai highly appreciated VBSP's plan to implement Resolution No. 11/NQ-CP on socio-economic recovery and development with a focus on lending programmes and job expansion amidst the complicated developments of COVID-19.

He also suggested that the municipal/provincial administration pay more attention to the implementation of Resolution No. 11/NQ-CP, ensuring that eligible citizens can access to credit packages.

As announced by VBSP, it will give a 2% interest rate subsidy per annum on loans with interest rates of over 6% per annum, to be disbursed by the bank in 2022-2023. The total amount of capital for the program is VND3 trillion.

The source of loan capital for policy credit programmes in 2022 is regulated as follows:

Loans for job creation, maintenance and job expansion will be VND7,000 billion, whilst 6,800 billionVND for purchasing, lease-purchasing social housing, workers’ housing, building new houses or repairing downgraded ones under the policy on social housing, VND1,500 billion for pupils and students to buy study support equipment and cover tuition fees, VND3,000 billion for loans national target programme on socio-economic development in ethnic minority and mountainous areas and VND700 billion for non-public preschool and primary schools that are closed down for at least 1 month due to the COVID-19 pandemic.

Reporting by M. QUE – Translating by A.THU