Deputy Prime Minister Le Minh Khai has underlined a need for national ministries, municipal/provincial provinces and Central Bank for Social Policies (VBSP) to ensure that the credit programmes are deployed in a timely, public, transparent and right manner and they must target the totally eligible beneficiaries.

Besides, it is necessary to implement interest rate support and preferential loans for socio-economic development in ethnic minority groups and mountainous areas in the 2021 - 2025 period in line with the national government’s guidance.

The above-mentioned instructions were released by Deputy Prime Minister Khai at a nationwide online conference, held by VBSP, on the deployment of credit policies under the Resolution No. 11/NQ-CP dated January 30, 2022 adopted by the national government on socio-economic recovery and development policies.

Speaking at the Da Nang broadcast point, Standing Vice Chairman of the Da Nang People's Committee Ho Ky Minh said that, as of May 17, the Da Nang branch of VBSP has disbursed a total of VND67 billion, reaching 60% of the plan (VND112 billion).

In order for Resolution No. 11/NQ-CP to be implemented in a prompt fashion, the municipal People's Committee has issued an official dispatch to review the need for policy credit capital to implement the socio-economic recovery and development programmes.

Accordingly, relevant local agencies will be in charge of creating favourable conditions for VBSP to implement preferential credit policies specified in Resolution No. 11/NQ-CP, provide sufficient and timely information on borrowers and their demand for preferential credit loans, and regularly inspect and supervise the implementation of the credit policy to avoid any wrongdoings.

Currently, loans are in high demand among local policy beneficiaries, especially blue-collared workers in industrial parks, are in desperate need of loans.

Therefore, the local government will submit proposals to the national government for consideration on grant more sources of loans to individuals and households that are in desperate need of loans to buy, rent social housing units and build new houses for social policy families or repair their downgraded ones.

Reporting by MAI QUE – Translating by A.THU