Credit for production households in disadvantaged areas to rise



Each production and business household in disadvantaged areas nationwide from March 15 is able to borrow up to VND 50 million (USD 2,170), instead of the maximum loan of VND 30 million (USD 1,300) regulated in current policy
The new policy is in line with Decision No 306/QD-TTg on the adjustment of credit for productive business households in disadvantaged areas recently issued by the Prime Minister.
The decision also regulates that the Vietnam Bank for Social Policies (VBSB), based on funding resources, investment demand and borrowers’ ability to repay, can give out a loan of up to VND 100 million (USD4,340).
As regulated in the decision, borrowers must have business plans or projects certified by the local commune People’s Committees.
For those who want to borrow over VND 50 million, the decision regulates that the borrower must contribute at least 20 percent of the total capital need for the business. The borrower also has to use the assets formed from the loan capital as a loan guarantee.
For loan guarantee terms, the borrower does not need loan guarantees if the loan size is VND 50 million or below.
The borrower has to implement loan guarantees in accordance with regulations of the guarantee if the loan size is over VND 50 million.
The decision is not applied to additional loans for contracts signed before March 15.

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All comments [ 10 ]

John Smith 20/9/16 08:17

Preferential capital helped production and business households in disadvantaged areas and commercial traders operating in disadvantaged areas to settle down.

Gentle Moon 20/9/16 08:18

The policy credit programs in disadvantaged areas have the potential to arouse economic development in the region, create jobs, improve income, thus, considerably improve living conditions for the people right in their hometown.

yobro yobro 20/9/16 08:19

That's good because the current loan size to production and business households in disadvantaged areas and commercial traders operating in disadvantaged areas is low, only up to VND 30 million which does not meet capital demand of borrowers.

LawrenceSamuels 20/9/16 08:20

Preferential capital has really helped many families with more motivation to take up work efficiently and no longer as poor as they used to be.

Jane smartnic 20/9/16 08:21

The Party and State consistently pay special attention to protecting the social welfare of ethnic minority people in economically disadvantaged areas.

Love Peace 20/9/16 08:23

Despite economic growth lower than set targets, poverty reduction programmes have broadened poor people’s access to social welfare, healthcare services, education, safe water, environmental hygiene, and cultural activities.

MaskOf Zero 20/9/16 08:24

The wealth gap between different regions is still unsustainable, even widening in regards to northern mountainous provinces and the Central Highlands.

Only Solidar 20/9/16 08:25

Budget and tax revenue collection difficulties have resulted in limited investment capital and failures to achieve the goals of national target programmes.

Pack Cassiopian 20/9/16 08:27

Poverty reduction programmes should be integrated with national target programmes to support production development in especially disadvantaged areas and help the poor enjoy easier access to healthcare services, education and loans.

Deck Hero14 20/9/16 08:29

Vietnam should issue more policies for every poor people in all areas.

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