Vietnam Bank for Social Policies disburses loans to support customers in overcoming damage after storm No. 3

To support people affected by storm No. 3, the Vietnam Bank for Social Policies (VBSP) Ninh Binh Branch quickly reviewed the needs, prioritized capital sources, and promptly disbursed to customers in need to restore production and business, and soon stabilize their lives.

Disbursement of capital to borrowers affected by storm No. 3 in Gia Son commune, Nho Quan district.

Immediately after storm No. 3 passed, the Ninh Binh branch of the Vietnam Bank for Social Policies quickly and proactively coordinated with local authorities and entrusted organizations to urgently review the damage situation of policy credit loan customers to deploy solutions to support customers and people affected by storm No. 3 and post-storm floods, in order to quickly overcome the consequences, restore production and business, and stabilize life soon. At the same time, focus on reviewing loan needs, speeding up the disbursement of policy credit programs to the right beneficiaries.

Since the storm and flood, the Ninh Binh branch of the Vietnam Bank for Social Policies has supported 4,075 customers with loans totaling VND205 billion. Particularly, the Nho Quan district branch of the Vietnam Bank for Social Policies has disbursed VND28 billion to 600 customers.

At the commune transaction session on September 20 in Gia Son and Xich Tho communes (Nho Quan district) - two of the communes most affected by floods, 43 households received loans worth nearly 2 billion VND.

Along with timely disbursement to the right beneficiaries, the VBSP also temporarily stopped collecting interest from borrowers affected by storm No. 3 and post-storm floods until December 31, 2024; extended debt and adjusted debt terms for loans due for repayment (applied to loans with debt due from September 2024).

In addition, based on the level of damage to capital, assets and people of the borrower, the Social Policy Bank where the loan is made urgently completes the process of establishing a dossier to request the settlement of risky debts according to current regulations to submit to competent authorities for timely debt settlement decisions, in order to create conditions for the borrower to stabilize their lives and quickly restore production and business.

News and photos: Nguyen Luu