Disadvantaged residents in Northwest benefit social funds
The Vietnam Bank for Social Policies (VBSP) has provided preferential loans for around 2.6 million poor and near-poor families in the Northwestern region, allowing 363,000 of them to escape from poverty, according to the bank.
The preferential loans have also supported the construction 712,000 clean water and sanitation works and 152,000 houses for the needy in the region.
Meanwhile, 128,000 people have found employment and 228,000 poor students could maintain their study as supported by the bank’s financial assistance.
By November 30, outstanding loans for the Northwestern region reached over VND29.2 trillion (US$1.3 billion), representing an average growth rate of 15% and accounting for 20.8% of the country’s lending.
The Northwest is considered the poorest region in Vietnam and consists Hoa Binh, Son La, Lai Chau, Dien Bien, Yen Bai, Lao Cai, Lang Son, Tuyen Quang, Phu Tho, Bac Kan, Cao Bang, Ha Giang and part of Nghe An and Thanh Hoa provinces.
Meanwhile, 128,000 people have found employment and 228,000 poor students could maintain their study as supported by the bank’s financial assistance.
By November 30, outstanding loans for the Northwestern region reached over VND29.2 trillion (US$1.3 billion), representing an average growth rate of 15% and accounting for 20.8% of the country’s lending.
The Northwest is considered the poorest region in Vietnam and consists Hoa Binh, Son La, Lai Chau, Dien Bien, Yen Bai, Lao Cai, Lang Son, Tuyen Quang, Phu Tho, Bac Kan, Cao Bang, Ha Giang and part of Nghe An and Thanh Hoa provinces.