Expanding the area and subjects, increasing the level of social policy credit loans

Prime Minister Pham Minh Chinh has just signed Decision No. 1560/QD-TTg promulgating the Plan to implement Directive No. 39-CT/TW dated October 30, 2024 of the Central Party Secretariat on improving the effectiveness of social policy credit in the new period.

The Government requires expanding the area and subjects, and increasing the level of social policy credit loans.

One of the main tasks set out in the plan is to perfect the system of mechanisms and policies for social credit in an inclusive and sustainable manner. Ministries and branches shall perform the function of state management according to their authority over social credit activities, including researching and implementing solutions to perfect the mechanisms and policies for social credit for the poor and policy subjects.

The Government will review and evaluate the effectiveness of current policy credit programs; study, amend, supplement and perfect legal documents, mechanisms and policies related to social policy credit in the direction of expanding the scope, scale, locality, subjects, increasing loan levels and loan terms in accordance with the objectives of national target programs, socio -economic development goals, the ability to balance the state budget, development conditions, characteristics of each region, area, production and business cycle.

Along with that, focus on providing social policy credit for those affected by natural disasters, epidemics, poor students and other emergencies... The Government clearly stated that the highest preferential level is applied to poor households, ethnic minority households, disadvantaged areas, ethnic minority and mountainous areas; followed by near-poor households and newly escaped poverty households; and other policy beneficiaries. The preferential level is adjusted in accordance with actual conditions.

The Government prioritizes concentrating resources and diversifying capital mobilization channels to implement social policy credit programs, ensuring operating capital for the Social Policy Bank.

The Decision clearly states that the Social Policy Bank is developed as a public financial institution, capable of autonomy, operating not for profit, implementing the State's socio-economic policies, focusing on areas that financial institutions operating on market principles cannot meet or can only partially meet.

LAM NGUYEN

Source: https://www.sggp.org.vn/mo-rong-dia-ban-doi-tuong-nang-muc-cho-vay-tin-dung-chinh-sach-xa-hoi-post804757.html