On March 27, Central Party Committee member and Deputy Prime Minister Ho Duc Phoc chaired a working session with the Bank for Social Policies of Vietnam (BSP) to assess the organization and operation of the SBV.
Concluding the meeting, the Deputy Prime Minister stated that the VBSP is one of the "pillars" in the system of poverty reduction policies, ensuring social security in Vietnam, serving the poor and other policy beneficiaries, leaving no one behind.
Suggesting a development orientation in the coming time, the Deputy Prime Minister emphasized a number of contents.
First, the VBSP must be stable; the organization and apparatus arrangement must be consistent with the current administrative unit arrangement process. In particular, reorganizing the apparatus must maintain the customer network.
Second, the VBSP needs to diversify capital sources, especially "cheap" capital sources to serve poor, near-poor households and policy beneficiaries.
In particular, it is necessary to continue to improve efficiency, research and expand the form of receiving entrusted capital not only from localities but also from enterprises and corporations.
Third, it is recommended that the VBSP continue to focus on developing professional and modern human resources, arranging and managing personnel reasonably and effectively. Each officer of the VBSP considers the agency as his or her home, working for the VBSP as his or her homework.
Fourth, it is recommended that the VBSP continue to research and promote the application of information technology, digital transformation, big data, etc. to improve the operational efficiency of the entire system, best serving the poor and policy beneficiaries.
Fifth, it is recommended that the VBSP continue to strengthen strict and effective governance and capital management; review, research, and rebuild to optimize the process of reviewing lending, disbursement, supervision, debt collection, etc. in accordance with the General Secretary's direction of minimizing 30% reduction in administrative procedures.
Sixth, it is recommended that the State Bank and relevant agencies study and advise the Government on related contents for young people to borrow to buy houses; for borrowers to buy and rent social housing... in the spirit of innovation, having creative ways of doing things, in line with the development process of society, creating conditions for the disadvantaged to rise up.
According to the report at the meeting, up to now, the total social policy credit capital has reached over VND 416,000 billion, an increase of more than VND 409,000 billion compared to 2002, the average annual growth rate reached 21.4%; of which VND 58,783 billion is the capital source entrusted from local budgets.
Total outstanding loans of policy credit programs reached over 376,000 billion VND. The average annual outstanding growth rate reached 21.1%.
Currently, more than 6.8 million poor households, near-poor households and policy beneficiaries still have outstanding loans at the VBSP.
