On the morning of June 26, Duong Quyet Thang, General Director of the Vietnam Bank for Social Policies, along with a working delegation, met with the Standing Committee of the Dak Lak Provincial Party Committee to discuss policy credit and the implementation results of Directive No. 40-CT/TW, dated November 22, 2014, from the Central Secretariat on strengthening the Party's leadership over social policy credit in Dak Lak province.

Overview of the meeting.

Receiving and working with the delegation were Nguyen Dinh Trung, a member of the Central Party Committee and Secretary of the Provincial Party Committee; Huynh Thi Chien Hoa, Chairwoman of the Provincial People's Council; Nguyen Tuan Ha, Standing Vice Chairman of the Provincial People's Committee; Y Giang Gry Nie Knong, Chairman of the Vietnam Fatherland Front Committee of Dak Lak province; and representatives of relevant departments and agencies.

The report at the meeting indicated that in recent times, Dak Lak province has focused on directing and effectively implementing the Party's and State's policies on social policy credit, contributing to the effective realization of goals and tasks related to sustainable poverty reduction, new rural construction, human resource development, social security assurance, political stability, national defense, and socio-economic development in ethnic minority and mountainous areas of the province.

Mr. Nguyen Tuan Ha, Standing Vice Chairman of the Provincial People's Committee, speaks at the meeting.

As of now, the total capital for policy credit reaches nearly 7,947 billion VND, an increase of nearly 569 billion VND compared to the end of 2023 and an increase of over 4,915 billion VND compared to 2014. In the first six months of 2024, 33,723 poor households, near-poor households, and other policy beneficiaries received loans totaling nearly 1,561 billion VND. The outstanding policy credit debt in the province is currently over 7,890.4 billion VND, an increase of over 534.5 billion VND compared to the end of 2023 (a growth rate of 7.27%), with over 173,000 customers still in debt. Overdue and classified debt amounts to more than 8.3 billion VND, accounting for 0.11%; two districts, 108 out of 184 communes, 578 out of 691 social-political organizations at the commune level, and 3,926 out of 4,056 Savings and Credit Groups have no overdue debt.

Since the issuance of Directive No. 40-CT/TW, the locally allocated budget funds entrusted to the Vietnam Bank for Social Policies have reached nearly 386 billion VND. The total outstanding loans of social policy credit programs have increased by more than 4,888 billion VND compared to 2014, with an average loan balance per household reaching nearly 46 million VND, an increase of 28 million VND compared to 2014.

Mr. Nguyen Dinh Trung, a member of the Central Party Committee and Secretary of the Provincial Party Committee, speaks at the meeting.

At the meeting, Mr. Nguyen Dinh Trung stated that Dak Lak is a locality with many difficulties, with a high proportion of ethnic minorities and poor households. Therefore, social policy credit plays a very important role in economic and social development and sustainable poverty reduction. The provincial Party committees and authorities at all levels always pay attention to this field, and the social policy banking system has operated effectively, delivering capital to the poor and policy beneficiaries. Recognizing the challenges and existing issues, the locality will continue to show its responsibility to the people through policy credit and supplement budget funds to the Vietnam Bank for Social Policies to facilitate easier access to capital for the people.

Mr. Duong Quyet Thang, General Director of the Vietnam Bank for Social Policies, speaks at the meeting.

Mr. Duong Quyet Thang acknowledged and appreciated the results achieved by Dak Lak province in the implementation of social policy credit. He emphasized that the Vietnam Bank for Social Policies is an excellent and humane model that reflects the Party's and State's concern for the poor and vulnerable. In the future, the Central Government will work with localities to effectively develop and implement a comprehensive proposal on social policy credit to further spread the Party's and State's policies, contributing significantly to poverty reduction and social security assurance in localities.

Funding support for the elimination of temporary housing for the poor.

On this occasion, the Vietnam Bank for Social Policies Union donated 1 billion VND to support the elimination of temporary housing for the poor in Dak Lak province.