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Over 124,000 Soc Trang households escape poverty

Over 124,000 households in the Mekong Delta province of Soc Trang have escaped poverty thanks to State preferential loans over the past 15 years.
Over 124,000 Soc Trang households escape poverty ảnh 1Illustrative image (Source: VNA)

SocTrang (VNA) – Over 124,000 households in the Mekong Delta provinceof Soc Trang have escaped poverty thanks to State preferential loans over thepast 15 years. 

The information was released by Duong Dinh Lang, Director of the Soc Trangbranch of the Vietnam Bank for Social Policies (VBSP) at a conference reviewingthe 15 years of implementing the Government’s Decree No.78/2002/ND-CP on creditfor poor people and other beneficiaries of State preferential welfare policies andthe bank’s operation.

The bankhas provided preferential loans for over 471,000 poor households and welfare policybeneficiaries and 11 cooperatives, thus helping reduce the rate of poorhouseholds in the locality by over 2.5 percent annually and create jobs forover 123,000 labourers.

As of theend of August, the branch’s total capital exceeded 3 trillion VND (132.66million USD) while outstanding loans totalled over 3 trillion VND. The rate ofbad debt fell from 26.61 percent in 2002 to 6.67 percent.-VNA
VNA

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