Poor households to receive support from social policy bank
The Vietnam Bank for Social Policy (VBSP) has proposed cutting the loan interest rate for poor households by 15 percent from April 1 until the end of the year.
A cooperative in Hai Ninh commune, Quang Ninh district in the central province of Quang Binh with funds borrowed from the district Bank for Social Policy offers work to poor people in the area. (Photo: VNA)
Hanoi (VNA) - The Vietnam Bank for Social Policy (VBSP) has proposed cutting theloan interest rate for poor households by 15 percent from April 1 untilthe end of the year.
Under the proposal, familieswho made a great contribution to the nation will also receive a reductionof 10 percent.
The bank also proposed that employers can borrow money at the bankwith no interest for a year to pay employees who must cease working forthree months due to the pandemic.
It is estimated a total of 16.2trillion VND (688 million USD) will be borrowed and 3 million workerswill benefit from the programme.
In recent days, relevantministries and the VBSP have been completing the Government’s draft resolutionabout supporting residents in coping with COVID-19 pandemic.
VBSP Deputy General Director Nguyen Duc Hai said most people borrowing money atthe bank were poor, or families who made great contributions to the nation.
He said the bank hadimplemented different supportive measures such as extending their debt payment,lending them more money for manufacture restoring and giving them guidance tomake reports on their struggles.
More than 40,000 people havehad their debt payment period extended, with total loansworth over 1.39 trillion VND (59 million USD)./.
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A cooperative in Hai Ninh commune, Quang Ninh district in the central province of Quang Binh with funds borrowed from the district Bank for Social Policy offers work to poor people in the area. (Photo: VNA) 
