The Vietnam Bank for Social Policies (VBSP) said it is providing loans for 6.4 million poor and near-poor households.

As of the end of 2020, the bank’s total credit balance stood at VND226.19 trillion (US$9.86 billion), a year-on-year rise of 9.4%.

Its loans have generated jobs for more than 361,000 labourers at home, and supported over 5,200 guest workers, along with nearly 44,600 disadvantaged students.

Around 200 businesses have accessed the loans to ensure wages for more than 8,500 employees affected by the COVID-19 pandemic.

The capital has also contributed to the building of 1.3 million water supply and hygiene facilities in rural areas, and thousands of houses for the poor, the bank said.

Its accumulative policy credit capital was VND233.42 trillion at the end of 2020, up VND21.53 trillion year-on-year.

Such localities as Hanoi, HCM City, Da Nang, Binh Duong, Ba Ria-Vung Tau, Dong Nai, Binh Dinh, Quang Ninh and Vinh Phuc have made outstanding performance in social policy credit activities that have significantly contributed to the implementation of policies, guidelines, targets and tasks of the Party and the State regarding sustainable poverty reduction, new-style rural area building, personnel development, and ensuring social welfare, political stability, and national defence and security.

Amidst the complex developments of the pandemic, the bank will continue to assist the poor and other social policy beneficiaries, it affirmed.