Poor households to get larger soft loans

10:22 | 01/07/2015 Finance - Banking

The Prime Minister has issued a decision, revising the credit plans of the Social Policy Bank this year.

Poor households to get larger soft loans

The Prime Minister has issued a decision, revising the credit plans of the Social Policy Bank this year. — Illustrative image/ File Photo

Under the decision, the credit debt plan amount will increase by 3.5 percent, or equal to VND11.6 trillion (US$531 million).

With the revision, the total credit debt will be more than VND141 trillion (US$6.4 billion) by December this year.

The decision reflects the government's care for poor and underprivileged people in society, in the context of the difficulties facing the state budget.

The government also issued another decision on increasing the amount of soft loans given to poor households.

The soft loan amount will increase to VND50 million (US$2,400) from VND30 million (US$1,400) per household to develop production.

The revised amount will help poor and underprivileged households to access more funds and escape hunger and poverty, and will help create more jobs.

Source: VNS


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