The bank will strive keep overdue debts below 1 percent of total outstanding balance and unpaid interest to fall at least 15 percent each year.
VBSP General Director Duong Quyet Thang said that the bank will continue following the directions of the Party, Government, the Steering Committee for Southwest Region, ministries and regional localities in designing credit policies for the region.
Vice Governor of the State Bank of Vietnam Dao Minh Tu said that the State bank will work with agencies to give a more complete legal framework for the bank’s operation, while continue to seek capital resources for the bank.
The State Bank of Vietnam will also monitor VBSP credit programmes to ensure their quality and effectiveness in reducing poverty and ensuring social welfare in the region.
Last year, VBSP’s total outstanding balance in the southwestern region reached more than VND27.83 trillion (US$1.22 billion), benefiting more than 2.06 million poor residents and policy beneficiaries, VND10.91 trillion (US$479 million) higher than that of 2011, with an average increase of 10.5 percent in the 2012-2016 period compared to 1.8 percent of the country’s average credit growth.