Territory-based credit policy in Ho Chi Minh City shows nearly 39% growth

Credit programs, not only support and assist the poor and vulnerable, who are the main subjects of policies in Ho Chi Minh City, with capital for production and business to create livelihoods and employment opportunities, but also play a significant role in the direction of sustainable economic development, economic growth, and social security ensured by the Government.


In 2023, policy credit programs continued to be well implemented in Ho Chi Minh City through the activities of the Social Policy Bank of Ho Chi Minh City.

Mr. Nguyen Duc Lenh – Deputy Director of the State Bank of Vietnam (SBV) Ho Chi Minh City branch shared that by the end of 2023, the outstanding loans of the city’s Social Policy Bank reached 10,330 billion, an increase of 39% compared to the end of 2022. This is the highest growth rate in the past 5 years. Policies and solutions to enhance support for the poor, ensuring social security and improving the quality of government growth, the State Bank of Vietnam (SBV) and the City People’s Committee in the direction of increasing capital for lending, increasing lending levels to well implement policy credit programs in the context of the difficult economy… are the main factors affecting the credit growth of the city’s Social Policy Bank.

The entrusted local capital for lending has grown strongly, up 77%, creating conditions for the Social Policy Bank to implement the growth of policy credit programs in the city in 2023.

Policy credit in the city has grown in line with the requirements of socio-economic development and the city’s economic characteristics. Accordingly, the outstanding debt for the employment program always accounts for the highest proportion. As of December 31, 2023, the outstanding debt for this program reached 7,348 billion dong, accounting for 77.1% of the total outstanding debt for lending of the city’s Social Policy Bank. This program has brought practical and significant effects in many aspects.

Thanks to the use of borrowed capital from the program, for production, business, trading… people have created jobs, generated income to improve their lives, thereby escaping poverty, stabilizing and developing. At the same time, contributing to the achievement of the goals of the poverty reduction program, ensuring social security and sustainable economic growth.

In addition, the quality of policy credit continues to be maintained and strengthened. The overdue debt rate and the debt under 1% threshold. The effectiveness of policy credit programs continues to be realized, in addition to the employment program, other credit programs such as: Poverty reduction support loans; student loans; clean water and rural environmental sanitation loans; social housing loans are also well implemented, with a total outstanding debt of these programs reaching 2,982 billion, accounting for 23% of the total outstanding debt.

These are the notable achievements of the policy credit programs implemented in Ho Chi Minh City, thereby making important contributions to the process of socio-economic development in the area with the goal of poverty reduction, improving the quality of people’s lives, and ensuring the effectiveness of economic growth.

Han Dong

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