Social Policy Bank Allowed to Grant More Credits in 2008
The Vietnamese prime minister has agreed to increase its norm of loans to poor household area in special difficulties in 2008 by VND500 billion and assigned the Vietnam Bank for Social Policy (VBSP) to provide the loans, the state-run Nhan Dan newspaper reported.
VBSP is also approved to give loans worth totaling VND9.6 billion to its customers this year, the paper said.
The bank should mobilize capital on the market to ensure the additional capital to provide the approved loans.
Last year, the bank’s credit growth soared more than 45 per cent to VND35 trillion, the record high since it was established.
The bank is specialized in providing loans to the poor families, underprivileged students across the country. So far, VBSP has helped 1.2 families escape poverty traps, generate 1.4 million jobs, and 56,000 workers to work overseas. (People)
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