On March 4, 2022, at the head office of Vietnam Bank for Social Policies (VBSP), the 4th Quarterly Meeting in 2021 of the VBSP's Board of Directors was convened under the chair of Ms. Nguyen Thi Hong, SBV Governor cum Chairperson of the VBSP’s Board of Directors.
Ms. Nguyen Thi Hong, SBV Governor cum Chairperson of the VBSP’s Board of Directors, chairs the Meeting
Speaking at the meeting, Governor Nguyen Thi Hong emphasized that in 2021, the outbreaks of the COVID-19 pandemic with the new variants had caused negative impacts on various socio-economic aspects. In response, the VBSP had conducted prompt and synchronous measures in order to fulfill the assigned tasks in compliance with the directives of the Party, the Government and the authorities at different levels. Thanks to the close and effective guidance and directions of the VBSP’s Board of Directors as well as the enormous efforts of the whole system, the VBSP had obtained encouraging results in 2021.
By December 31, 2021, the total policy credit reached VND 256,324 billion, up by VND 22,779 billion as compared to that of the end of 2020. The loan outstanding of the credit programs reached VND 247,970 billion, up by VND 21,773 billion (+9.6%) in comparison with that of the end of 2020; of which, the loan outstanding of the credit programs in line with the growth plan approved by the Prime Minister reached VND 209,875 billion, up VND 15,527 billion (+8%) in comparison with that of the end of 2020, accomplishing 100% of the planned target as assigned by the Prime Minister, with nearly 6.4 million poor and near-poor households and other policy beneficiaries currently in the loan outstanding list. Especially, the VBSP had put a lot of efforts on implementing its program of assisting COVID-19 affected employers to pay workers’ salaries and job suspension benefits. The VBSP had disbursed VND 2,316 billion to 2,474 employers in order to pay salaries for a total number of 603,050 workers.
In 2021, the total lending amount reached VND 80.211 billion for over 2 million poor households and other beneficiaries, up by VND 4,386 billion as compared to that of 2020. The ratio of overdue debts and charge-off debts accounted for 0.7% of the total loan outstanding. The VBSP had promptly handled with the debts for the COVID-19 affected customers with the aim of resolving the difficulties and helping the borrowers to recover their production and business operations.
An overview of the Meeting
In her conclusion at the Meeting, the SBV Governor acknowledged the efforts of the Board of Management and the officials of the VBSP in achieving the encouraging results over the past time. Since the very first days of 2022, the VBSP has continued to put strong efforts into implementing the assigned tasks. Particularly, after the issuance of Resolution No. 11/NQ-CP of the Government on the Program for the Socio-economic Recovery and Development, and Resolution No. 43/2022/QH15 of the National Assembly on the fiscal and monetary policies to supporting this Program, the VBSP had promulgated its Action Plan to implement Resolution No. 11/NQ-CP and coordinated closely with the relevant ministries and agencies to implement the policies on preferential loans and concessional interest rates and fees as requested by Resolution No. 11/NQ-CP.
In order to accomplish the assigned tasks in 2022, the SBV Governor requested the VBSP to continue to advise the Government, the relevant ministries, agencies and the local authorities in order to effectively implement Directive No. 40-CT/TW and Conclusion No. 06-KL/TW of the Party’s Secretariat and Decision No. 1630/QD-TTg of the Prime Minister; actively and proactively mobilize the capital resources, and strengthen the lending operations for the Government’s policy credit programs in order to promptly meet the capital demand of the policy beneficiaries, accomplish the growth target as assigned by the Prime Minister, and to ensure the liquidity of the whole system; continue to effectively implement the program on providing loans for salary and job suspension benefit payment, and for production and business recovery in line with Resolution No. 126/NQ-CP dated October 8, 2021 of the Government and Decision No. 23/2021/QD-TTg of the Prime Minister; proactively formulate guiding documents and prepare necessary conditions for the effective implementation of the Program for the Socio-economic Recovery and Development in the 2022-2023 period.
Le Hang