Over 124,000 Soc Trang households escape poverty
Over 124,000 households in the Mekong Delta province of Soc Trang have escaped poverty thanks to State preferential loans over the past 15 years.
The bank has provided preferential loans for over 471,000 poor households and welfare policy beneficiaries and 11 cooperatives, thus helping reduce the rate of poor households in the locality by over 2.5 percent annually and create jobs for over 123,000 labourers.
As of the end of August, the branch’s total capital exceeded VND3 trillion (US$132.66 million) while outstanding loans totalled over VND3 trillion. The rate of bad debt fell from 26.61 percent in 2002 to 6.67 percent.