Ensuring policy credit is a humane economic tool

The Vietnam Bank for Social Policies is managing 168,460 Savings and Loan Groups. Photo: Tran Viet - VNA

Under the comprehensive and consistent leadership of the Party Committee, the entire Social Policy Bank system has strived to successfully complete assigned political goals and tasks, affirming that social policy credit is a "bright spot" and an important "pillar" in the social security policy system of the Party and State...

During the 2020 - 2025 term, the Party Committee of the Central Bank for Social Policies issued 12 action programs (including 2 action programs to implement the Resolutions of Party Congresses at all levels), 16 resolutions and many important directive documents to lead the implementation of the unit's political tasks. 100% of key leaders developed personal action plans, demonstrating the spirit of innovation, daring to think, daring to do, daring to take responsibility.

The implementation of the coordination regulations between the Party Committee and the General Director of the Vietnam Bank for Social Policies has clearly promoted efficiency, creating high unity in leadership and direction in implementing political tasks throughout the system.

In leadership and direction, the Party Committee of the Central Bank for Social Policies has realized action programs and resolutions. The clearest reflection in the credit picture for the 2020-2025 term is that policy capital continues to grow steadily, increasingly meeting the borrowing needs of the poor and policy beneficiaries, and implementing the orientation of expanding the scope, scale, and subjects, increasing the lending level in accordance with the goals of national target programs, socio -economic development goals and policies, in order to promptly respond to widespread epidemics and natural disasters.

As of May 31, 2025, the total policy credit capital reached VND 410,857 billion, an increase of VND 198,964 billion (up 94%) compared to the beginning of the term, the average annual growth rate reached 12.8% (higher than the average capital growth in the previous term). In particular, receiving entrusted capital from local budgets is a highlight of the term on the basis of effectively implementing the policy of "Central and local working together", focusing on mobilizing resources to deploy policy credit nationwide.

By May 31, 2025, the capital entrusted by localities at all levels reached 61,427 billion VND, of which the capital entrusted by the provincial level was 50,906 billion VND, the capital entrusted by the district level was 10,521 billion VND, an increase of 45,993 billion VND (298%) compared to the beginning of the term, with an average annual growth rate of 28.3%; bringing the proportion of local entrusted capital compared to before the Directive from 3% to 15% of the total credit capital.

Policy credit continues to be effectively invested in 100% of communes, wards and towns nationwide. By May 31, 2025, the total outstanding debt of credit programs reached VND 389,388 billion, an increase of VND 182,583 billion compared to the beginning of the term, with an average annual growth rate of 12.2%, an increase compared to the average year in the previous term, with more than 6.8 million customers with outstanding debt.

During the term, more than 12 million poor households and policy beneficiaries have borrowed capital from the Social Policy Bank, with a total loan turnover of VND 555,044 billion. Policy capital has contributed to attracting and creating jobs for more than 3.8 million workers, of which over 37,000 workers went to work abroad for a limited period; nearly 12,000 workers who have completed their prison sentences borrowed capital to create jobs for themselves...

Entering the 2025 - 2030 term, in the context of the world and regional situation still containing many potential instabilities, in addition to opportunities and many challenges in socio-economic development, the requirement to improve the efficiency of social policy credit becomes more urgent. The effective implementation of Directive No. 39-CT/TW of the Secretariat on improving the efficiency of social policy credit in the new period will continue to be a consistent orientation, ensuring that policy credit is a humane economic tool, promoting inclusive growth, leaving no one behind.

In the new period, the Party Committee of the Central Bank for Social Policies determined to continue perfecting the mechanism and policies of social policy credit in a synchronous manner with the socio-economic development strategies, the Comprehensive Finance Strategy, and the Development Strategy of the Bank for Social Policies to 2030. Building the Bank for Social Policies into a modern public financial institution, capable of autonomy, operating not for profit but effectively, professionally, focusing on serving vulnerable groups and areas that the market cannot meet.

Along with that, continue to improve the leadership capacity and fighting strength of the Party organization; build the Party Committee of the Central Bank for Social Policies to be truly strong in all aspects, to act as the core in orienting, organizing and supervising the implementation of social credit policies nationwide, contributing significantly to ensuring the socialist orientation in implementing national target programs, social security policies, and socio-economic development of the country.

Source: https://baodautu.vn/dam-bao-tin-dung-chinh-sach-la-cong-cu-kinh-te-nhan-van-d306580.html