The 15-year- journey of social credit policy

Friday, Oct 06 2017, 09:48

QTV - After 15 years’ implementation, the social credit programs of  Quang Ninh Bank for Social Policies have offered thousands of the poor and other policy beneficiaries with capital for production, thus improving their income and living standard and  contributing to the socio-economic development of Quang Ninh province.

Groups and individuals honoured at the meeting
Groups and individuals honoured at the meeting

From the foundations of 2 two credit programs for poor households and job creation, after 15 years, 15 policy credit programs have been implemented in Quang Ninh. By the end of September 2017, the credit policy have been expanded to all communes, wards, town and cities of Quang Ninh with the total debt reached nearly VND 2,450 billion, 15 times higher than in 2002. The social credit has helped nearly 60,000 households escape poverty; offered jobs for nearly 150 thousand labors; funded over 26 thousand disadvantaged students and built nearly 400,000 rural clean water and environmental sanitation facilities, over 4,000 houses for the poor and policy beneficiaries. Quang Ninh is one of the few provinces and cities to implement policy-specific credit within the provincial budget. The province will continue capitalizing on the central budget; mobilizing capital from organizations and individuals; timely allocate local budget capital to meet the demands of the policy beneficiaries, especially the loans for job creation in remote areas.
Translated by Chu Linh