The Vietnam Bank for Social Policy (VBSP) has proposed cutting the loan interest rate for poor households by 15% from April 1 until the end of the year.
Prime Minister Nguyen Xuan Phuc has signed a decision on a piloting scheme which requires domestic workers to make deposits before departing to work in the Republic of Korea.
Social policy credit helped to build more than 4,000 houses, along with over 1.2 million safe water supply and sanitation facilities in rural areas in 2019, according to the Vietnam Bank for Social Policies (VBSP).
The Vietnam Bank for Social Policies (VBSP) on September 6 officially launched the project “Mobile Banking – Financial Inclusion and Economic Empowerment for Low Income People and Women in Vietnam” - Phase 2 (Mobile Banking 2).
More than 1.15 million poor households and policy beneficiaries gained access to preferential loans in the first half of 2019, according to the Vietnam Bank for Social Policies (VBSP).
The Vietnam Bank for Social Policies (VBSP) has submitted proposals to the Prime Minister on the interest rates for preferential loans to rent and buy social housing or build, upgrade, and repair houses in 2019, with the suggested annual rate of 4.8 percent.
A workshop sharing Germany’s experience in the field of housing finance was held in Hanoi on November 21 by the the Vietnam Bank for Social Policies (VBSP) and the German building society, Bausparkasse Schwabisch Hall AG (BSH).
Banking apps on cell phones are helping people in rural areas manage their finances, said Pham Xuan Hoe, deputy director general of the Banking Strategy Institute at the State Bank of Vietnam (SBV) at the launching ceremony of the i3 programme held in Hanoi on November 14.
The application of digital technologies in providing banking services has proven effective, not only bringing better experience to urban customers but also helping banks introduce their services to low-income households.
A large number of poor people and women in Vietnam have not accessed mobile banking.
The Vietnam Bank for Social Policies (VBSP) raised VND150 billion (US$6.5 million) at the latest auction of Government-guaranteed bonds on the Hanoi Stock Exchange (HNX) held on July 23.
Social credit programmes have helped ethnic minorities in the Mekong Delta province of Tra Vinh escape poverty in recent years.
As of June 30, Vietnam Bank for Social Policies (VBSP) posted its outstanding balance for the first half of the year at the total of more than VND181.76 trillion (US$7.9 billion), up 5.8% compared to the same period last year.
The State Bank of Vietnam (SBV) has decided to keep preferential loan interest rate unchanged at 5% for purchase, rent or hire of social housing projects in 2018.
Vietnam Bank of Social Policies has enjoyed a successful 2017, celebrating its 15th anniversary. Nguyen Van Ly, deputy CEO of the bank, shared with Ha An his thoughts about this milestone and the bank’s future strategy.
The Vietnam Bank for Social Policies (VBSP) reported that the bank has provided loans to over 31.8 million poor households and policy beneficiaries since 2002.
Prime Minister Nguyen Xuan Phuc has hailed credit for implementing social policies as a sound policy of the Party and State that contributes to social development and creates a momentum for sustainable poverty reduction.
Over 30 million poor households and other welfare beneficiaries have accessed soft loans from the Vietnam Bank for Social Policies (VBSP) as of the end of August 2017, according to the VBSP.
More than 1,473,000 ethnic minority households across the country have been benefiting from preferential credit programmes with total loans worth up to VND40 trillion (over US$1.76 billion), reported the Vietnam Bank for Social Policies (VBSP).
The Vietnam Bank for Social Policies (VBSP) aims to offer VND41 trillion (US$1.8 billion) of loans to the southwest region in 2030, up VND13 trillion (US$571 million), or 46 percent, compared to 2016, with average credit growth of 10 percent each year.