More than 1.15 million poor households and policy beneficiaries gained access to preferential loans in the first half of 2019, according to the Vietnam Bank for Social Policies (VBSP).

The loans also helped nearly 113,000 workers secure jobs and over 8,000 students pursue study, while assisting with the building of more than 760,000 rural clean water and sanitation facilities and 10,000 houses for policy beneficiaries.

As of June 30, the VPSP’s total loan outstanding balance exceeded 198.5 trillion VND (8.5 billion USD).

Meanwhile, during the period, overdue debts hit 807 billion VND, making up 0.41 percent of the outstanding balance. 

VBSP General Director Duong Quyet Thang urged VBSP units to focus on improving credit quality. 

He also requested more assistance from local authorities toward the operations of VBSP units in a bid to increase resources helping people overcome poverty.