The beneficiaries of this loan disbursement from the Vietnam Bank for Social Policies (VBSP) are union members who are officials and civil servants at the district and ward levels; part-time workers, and employees with indefinite-term contracts at the ward level with the amount of VND990 million.
This is an activity to implement Resolution No. 33 (dated July 30, 2024 of the People's Council of Da Nang City on entrusting the city's budget capital through the Da Nang City Branch of the Vietnam Bank for Social Policies to lend to union members who are cadres, civil servants, part-time workers, and workers in difficult circumstances).
Ngu Hanh Son District Labor Federation also reviewed and guided the loan process for 12 union members who are employees at enterprises with affiliated grassroots unions with an amount of VND 890 million.
Resolution 33 of the Da Nang People's Council takes effect from August 2024. According to this Resolution, in the 5 years from 2024-2028, Da Nang will spend 100 billion VND for union members and workers to borrow capital. The criteria for identifying union members in difficulty are having a current salary of a specialist level 3 or lower; having relatives in the family of working age but unemployed; having 2 or more children studying at vocational training institutions, colleges, and universities; having relatives in the family with serious illnesses; the family has suffered damage due to natural disasters, accidents or force majeure events confirmed by the People's Committee of the commune where they reside; being divorced or single-handedly raising 2 children under the age of majority. Priority is given to lending to cases with no outstanding debt at the Social Policy Bank.
From 2024 to 2028, Da Nang will balance to entrust 50 billion VND in loans to disadvantaged subjects who are officials and civil servants of districts, wards and communes; part-time workers of wards and communes; employees with indefinite-term contracts working in agencies and units at district and commune levels with grassroots trade unions under the District and Commune Labor Federations.
At the same time, an additional VND50 billion will be provided for loans to workers residing in Da Nang, working in enterprises with grassroots unions at all levels. Union members in public service units are not eligible for loans under this resolution.
In addition to the general purpose of supporting the improvement of living standards and increasing income for union members, officials and civil servants in difficult circumstances, this loan source will contribute to pushing back black credit among workers, laborers and low-income people.
