Total policy credit capital increases by 7.6% year-on-year. Photo: VBSP

According to the VBSP, by the end of June, total policy credit capital rose 7.6% year-on-year to VND 372,723 billion, including entrusted capital from the local budget at VND46,929 billion, an increase of VND7,755 billion, accounting for 12.6%.

As of June, total credit balance increased 5.6% year-on-year to VND350,513 billion, with over 6.8 million poor households, near-poor households and other policy beneficiaries. The rate of overdue debt and frozen debt accounted for 0.56% of total outstanding debt, of which overdue debt accounted for 0.21% of total outstanding debt.

Loan turnover of the entire system in the first 6 months of the year totaled VND63,937 billion with more than 1.3 million poor households and other policy beneficiaries. Social policy credit capital supported investment in production and business, creating jobs for more than 403 thousand workers, over 24.2 thousand students in difficult circumstances taking out loans for studying; built more than 1,018 thousand clean water and sanitation projects in rural areas; built more than 2.4 thousand social housing units for policy beneficiaries...

In a presentation at the recent scientific conference on social policy credit, the Party Committee of the Ministry of Finance said that in the coming time, to further promote the effectiveness of policy credit, the Ministry will continue to preside and coordinate with relevant ministries, branches and the VBSP to perfect mechanisms and policies to improve operational capacity and financial capacity of the VBSP in a stable manner to effectively implement policy credit programs, rapidly and stably implementing poverty reduction, and successfully implementing national target programs.

At the same time, the ministry will cooperate and report to the Government and Prime Minister to submit to the National Assembly to prioritize resources to fully and promptly supplement capital for social policy credit.