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First Half of 2011: Loans Worth VND144 Billion (or US$6.93 million) Made to Social Programs

Dong Nai Branch of Bank for Social Policy Bank’s report says that outstanding balance in the first half of 2011 is estimated to total VND144.3 billion (or US$6.95 million) accounting for 86.7 percent according to outstanding balance plans.

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Particularly, loans worth VND178 billion (or US$3.75 million) were made to 24,800 households and students, accounting for 74.3 percent over the same period last year.

Loan-for-Poor Household Program has been implemented. New loans worth VND18.5 billion (or US$891,369) have been made to 3,000 households.

Loans worth VND94.7 billion (or US$4.56 million) have been made to 16,000 underpriviledged students.

Loans worth VND63 billion (or US$3.03 million) for 7,900 students in the first semester in 2010-2011 academic year have been disbursed.

Outstanding balance hits VND93.7 billion (or US$4.51 million), as much as 142 percent over the same period last year.

The central government’s outstanding capital loans hit nearly VND137 billion (or US$6.6 million), up 6.9 percent compared with late 2010.

The local government’s outstanding capital loans hit VND74.4 billion (or US$3.58 million), up 5.4 percent over the same period.

Thanks to poverty reduction loans, many people have put investment in business (Illustrative photo)

Among the outstanding loans of ten loan making programs, poor households’ outstanding loans account for 30 percent.

Outstanding loans for underpriviledged students represent 49.2 percent and those for the remaining eight programs account for 20.8 percent.

It is known that preferential credit loans under the management of Dong Nai Bank for Social Policy was estimated at VND1.41 trillion (US$68.37 million), up VND99.04 (or US$4.77 million) compared with late 2010.

Central government’s capital funds reach VND133 billion (or US$6.4 million), accounting for 93.7 percent or VND93 billion (or US$4.48 million) compared to late 2010.

In particular, balanced funds from the central government hit VND129.7 billion (or US$6.24 million), up VND84 billion (or US$4.04 million) over the same period last year.

VND16 billion (or US$770,913) was raised through savings and loans, up VND8.6 billion (or US$414,366) compared to late 2010,

Local entrusted loans hit nearly VND89 billion (or US$4.28 million), up VND6 billion (or US$289,093) for Loan-for-Poor-Household Program compared with 2010 and account for 100 percent according to plans.

Reported by Phuong Linh, Translated by Duy Minh

Author: phongvien

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