Over the past few years, the Bank for Social Policies has given preferential loans to over 10 million poor families, created condition for over 2 million workers to get jobs, and helped nearly 2 million pupils and students access loans for study. This information was confirmed by general director of the bank, Ha Thi Hanh, during a meeting with Standing Deputy Prime Minister Nguyen Sinh Hung on May 25, when he worked with the bank on the Government’s preferential credit program. The Vietnam Government website quoted Ms Hanh, saying that after eight years of the implementation of the Government decree on credit for the poor and other beneficiaries, the bank has mobilized a large amount of capital to create a breakthrough in poverty reduction. So far 18 preferential credit programs have been implemented with over VND 91 trillion, an increase of 12 times compared to 2002. The bank has built a draft strategy for development in the 2011-2020 period with a target to build the bank into a bank for preferential credit and financial services for poor and low-income people as well as a leading bank in the micro financial system in ASEAN region. The strategy will focus on seven groups of issues – customers, products and service, financial, banking administration, human resource development, information and technology infrastructure development and international cooperation. Speaking during the meeting, Standing Deputy Prime Minister praised the bank for its network of 10,000 disbursement points, 681 branches and transaction offices. He urged the bank to undertake a more thorough study on the development strategy and place it in the general poverty reduction strategy, and to wisely use preferential credit sources to help people escape poverty. (cpv.org.vn May 26)
