A review meeting of the performance of Da Nang’s preferential credit programs for poor households and social policy beneficiaries over the past 20 years in line with Viet Nam’s national government’s Decree No. 78/2002/ND-CP dated October 4, 2002, chaired by municipal People's Committee Vice Chairman Ho Ky Minh, was held on Tuesday afternoon with Mrs Nguyen Thi Hang, the Deputy General Director of the Viet Nam Bank for Social Policies and the city’s leaders.

Mr Luong Nguyen Minh Triet, the Deputy Secretary of the Da Nang Party Committee and Chairman of the Municipal People’s Council delivering his remarks at the review meeting. Photo: M.Q

In his remarks at the review meeting, Mr Luong Nguyen Minh Triet, the Deputy Secretary of the Da Nang Party Committee and Chairman of the municipal People’s Council highlighted huge efforts the city have made to effectively implement its preferential credit programs, thereby contributing greatly to poverty reduction and job creation, as well as ensuring access to social benefits.

Mr Triet remarked that the city has made great efforts to ensure that all eligible people, especially low earners, who are ineligible for loans from commercial banks have enjoyed benefits from the city’s preferential credit programs. Therefore, the programs have become more effective at reducing poverty, and driving the city’s socio-economic development over the last two decades.  

Mr Triet stressed the need for the Da Nang government to issue more social welfare polices, and provide additional sources of capital from the city budget to allow the preferential credit programs to offer more loans to social policy beneficiaries.

Special attention will be paid to offering preferential loans to low- and middle-earners in line with the direction from national and municipal governments in efforts to effectively implement the city’s development strategies for sustainable poverty reduction to 2030.    

The Da Nang branch of the Viet Nam Bank for Social Policies was tasked to continue its efforts to ensure that more poor people and social policy beneficiaries access preferential loans as well as the city’s preferential credit programs are implemented in a safe and effective manner.

Addressing the event, municipal People's Committee Vice Chairman Ho Ky Minh took the opportunity to thank the Viet Nam Bank for Social Policies for its active support given to the city to allow poor people and social policy beneficiaries across the city to access preferential loans to help them create and run their own business with confidence in order to increase their income and improve their living conditions.

In the coming time, the city will issue preferential credit policies for middle earners and public employees in difficult circumstance.

Over the past 20 years, the Da Nang branch of the Viet Nam Bank for Social Policies has achieved average annual growth rate of 18.68% in its available sources of capital.

As of August 31, 2022, the total sources of the Da Nang branch of the Viet Nam Bank for Social Policies had hit VND 129.7 billion, VND 3,638 billion higher than in 2002.

Till date, 422,602 poor households, near-poor households, “newly escaped from poverty” households and social policy beneficiaries have accessed preferential loans totalling VND 9,801 billion from the Da Nang branch of the Viet Nam Bank for Social Policies while its debt collection revenue has reached VND 6,151 billion.

As of August 31, 2022, the Da Nang branch’s credit had grown at 19.4% on a year-over-year basis on average while its total outstanding loans had reached VND 3,756.8 billion, an increase of VND 3,640 billion compared to 2002.

To mark this occasion, Mr Triet presented the emulation flag from the Da Nang government to the Da Nang branch of the Viet Nam Bank for Social Policies in recognition of its significant achievements over the past 20 years.

In addition, 7 organisations and individuals in Da Nang received certificates of merit from ministries and national government agencies for their dedication and commitment to the implementation of the national government’s Decree No. 78/2002/ND-CP. Furthermore, 24 organisations and 11 individuals were awarded certificates of merit from the Da Nang government for their dedication to the implementation of the national government’s Decree No. 78.

Mr Triet presenting the emulation flag to the Da Nang branch of the Viet Nam Bank for Social Policies in recognition of its significant achievements over the past 20 years.

Reporting by MAI QUE – Translating by H.L