A breakthrough in the year 2014 – Vietnam Bank for Social Policies

The year 2014 is remarked as a noticeable milestone in VBSP’s operation for poverty alleviation and social welfare. Its achievments are reportedly recognized by the National Assembly of Vietnam in its supervision report on the implementation of laws and policies for poverty alleviation period 2005-2012. Accordingly the members of the National Assembly have highly spoke on VBSP’s efforts and proposed Vietnam’s Government to enhance the supporting policies for more effective and efficient implemenation of policy credit for poverty alleviation.

On behalf of Vietnam’s Government, Prime Minister Nguyen Tan Dung has also highly glorified VBSP’s achievements over the past years. He has confirmed that VBSP has played important role in realizing the goal of sustainable and fast poverty alleviation, ensuring the social welfare, strengthening human resources, creating jobs, improving the living standards of people, helping the poor and other policy beneficiaries to access basic social services, strengthening confidence and trust of the people on Vietnam’s Government, on contribution to the socio-economic development of the country. VBSP’s operation is acknowledged by Vietnam’s Government as its outstanding innnovative and creative solution for the poor to sustainably escape from poverty and by the international community as well.

In 2014, VBSP has provided policy credit to over 2 million poor, near-poor and policy households, helped 401,000 households overcoming poverty line, creating jobs for over 162,000 people, more than 660,000 disadvantaged students accessing education loans, building over 1,1 million facilities of safe water supply and sanitation in rural areas etc,. VBSP resultingly has remarkable contribution in poverty rate reduction in Vietnam from 7.8% (in 2013) down to estimated 6% (in 2014).

VBSP borrowers in Phu Yen province

For more information about Vietnam Bank for Social Policies visit: http://www.vbsp.org.vn/evbsp/