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| Director of the VBSP Hue City Branch Phan Van Phap delivering a report at the meeting |
According to the report presented at the meeting, during the first nine months of 2026, social policy credit in Hue City continued to maintain stable growth, promptly meeting residents’ demand for capital, particularly among policy beneficiaries. Total outstanding loans under policy credit programs reached VND 6.399,1 billion as of September 30th, an increase of VND 719.4 billion from the beginning of the year, achieving 100% of the central government’s assigned target for outstanding loan growth.
The results further confirm the important role of policy credit in supporting livelihoods, creating jobs, developing production, improving living standards and ensuring social welfare in the city. To ensure that funds reach the right beneficiaries and are used effectively, the VBSP Hue City Branch has closely coordinated with local Party committees and authorities, socio-political organizations entrusted with managing the funds, and the network of Savings and Credit Groups in implementing credit programs.
Alongside funding from the central government, local budget funds entrusted to VBSP have continued to receive additional allocations. To date, the total amount of funds entrusted from local budgets has reached VND 473,2 billion, helping expand residents' access to capital while providing additional resources for implementing credit programs aligned with the city's socio-economic development and social welfare needs.
Notably, as credit operations have expanded, the city has consistently emphasized that credit growth must go hand in hand with improved credit quality. As of September 30th, total overdue and frozen loans accounted for only 0,11% of total outstanding loans, with overdue loans standing at 0,06%. This result reflects the regular implementation of loan management, inspection, supervision, collection efforts and debt recovery, helping ensure that policy funds are used safely, by the right beneficiaries, for the right purposes and effectively.
Building on these achievements, in the remaining months of 2026, the city's Board of Representatives of the Board of Directors of VBSP will continue to direct the effective implementation of social policy credit programs, ensuring that assigned targets and plans are met; strengthen resource mobilization and allocation, particularly funds entrusted from local budgets. At the same time, it will continue improving credit quality, intensifying inspection and supervision at the grassroots level, proactively reviewing borrowers' capital needs and repayment capacity, and limiting the emergence of overdue loans.
Speaking at the meeting, Vice Chairman of Hue City People's Committee and Head of the city's Board of Representatives of the Board of Directors of VBSP Nguyen Van Manh acknowledged and praised the achievements made by the VBSP Hue City Branch in recent times.
The Vice Chairman called for continued efforts to strengthen responsibility in managing capital, ensuring that policy credit reaches the right beneficiaries, is used for the right purposes and generates tangible results; and linking lending activities with livelihood support, job creation, income improvement and social welfare. In the remaining months of the year, members of the Board of Representatives, the VBSP Hue City Branch, socio-political organizations entrusted with managing the funds, and local authorities should strengthen coordination and proactively review capital needs at the grassroots level, ensuring that people eligible for policy support do not lack the capital needed for production, business activities, creating more jobs and stabilizing livelihoods.
The Vice Chairman emphasized that the effectiveness of policy credit should not be measured solely by the growth rate of outstanding loans. More importantly, it should be measured by the ability to transform preferential capital into sustainable livelihoods, employment and income for local residents. Therefore, alongside expanding credit, particular attention must be paid to the inspection, supervision, management and use of funds; guidance and support should be strengthened for borrowers as they implement their production and business plans; and difficulties should be promptly addressed to improve the effectiveness of the capital, particularly for poor households, near-poor households and other policy beneficiaries.
Vice Chairman Nguyen Van Manh also requested that the city continue to promote the role of local authorities, socio-political organizations entrusted with managing the funds, and the network of Savings and Credit Groups in managing and supervising capital. Credit quality should be reviewed regularly, while efforts to recover loans should be strengthened to prevent the emergence of overdue debt. These measures will help ensure that policy funds are used safely, by the right beneficiaries and for the right purposes, creating tangible improvements in people's lives, contributing to sustainable poverty reduction, job creation, higher incomes, social welfare and socio-economic development across the city.