Vietnam Bank for Social Policies – Ninh Thuan Branch: Guaranteeing Economic Development and Social Welfare

9:47:50 PM | 3/4/2013

The Vietnam Bank for Social Policies (VBSP) – Ninh Thuan branch was established in 2003. After 10 years of operation and development, it has made great efforts to help the province successfully realise the targets of reducing poverty, promoting social welfare and creating employment.
Particularly, in 10 years of operation, the branch has increased credits 18 times, from VND60 billion in 2003 to the current rate of VND1,087 billion. From only 2 credit programmes initially, the branch is now adopting 9 loan programmes. Preferential credit funding has helped to reduce the annual household poverty rate by 2 percent; created over 12,000 jobs; lent to over 30,000 students for study purposes; provided credit to 33,841 households for construction and installed over 35,577 works. The branch’s operation has also helped to increase the rate of access to clean water in rural areas rural to 83 percent by the end of 2012, that of households having standard water closets to 63 percent and 6,863 households are given loans for house construction. So far, preferential credit fund has spread to over all 65 communes, wards and villages, urban areas across the province benefiting up to 73,822 households, accounting for 50 percent of the locality’s households. In its 10 years of service, VSBP Ninh Thuan has met the expectations of the poor and other prioritised targets by the policies in poor communes, and gained the appreciation of Party Committees and local authority.
Currently, VSBP Ninh Thuan has 5 transaction offices and the provincial headquarters, 65 mobile transaction points located in 65 communes, wards and towns across the whole province with more than 1,700 savings and credit groups, social and political organizations authorized at the grassroots level. Given such large network, the branch has guaranteed that beneficiaries can access preferential credit funds in a timely and quick manner; thereby saved costs for the poor and other prioritized targets by causing them no difficulties in travel.
Upholding the achievements, in 2013, VSBP Ninh Thuan will continue to follow the sectoral orientation, provincial socio-economic development orientation, and give priority to the target of poverty reduction and social welfare. Thus, there will be plans prepared and submitted to the Central level to ask for credit growth of 12 percent in 2013, equating approximately VND130 billion to meet borrowing demands for the fulfilment of provincial targets.
Concerning funding activities, capital will be actively mobilised from the market, savings from borrowers through savings and credit groups. The branch will also implement communication and emulation activities well to foster capital mobilization, and request for transfer from the Central level so that the loans are guaranteed. In addition, emphasis will continue to be placed on investment for poor households for production development, investment in depth to build productive capacity for the poor. Guarantee is made for demands of loans for social welfare such as lending poor households for house construction, clean water and rural environmental sanitation, and lending to students.
Director Tran Ngoc Tu of VSBP Ninh Thuan shared: “Given the role of supporting local socio-economic development, VSBP Ninh Thuan will continue to go hand in hand with the poor and other prioritized objects. Besides, the branch will also take advantage of central assistance, promote internal resources, and coordinate with authorized agencies, department and units receiving to fulfil demands of loans for poor and threshold household economic development; well adopt credit programmes for social welfare, contributing to beat provincial annual socio-economic targets.
Cong Luan