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According to the Bank for Social Policies (VBSP)’s Binh Duong branch, although the central and local State budget revenues have faced many difficulties, the province has still created conditions to increase State budget for credit capital and entrusted provincial VBSP branch to provide loans for poor households and other policy subjects.

Policy capital supports many subjects in homebased economic development. In picture: Clients receive policy capital at the mobile transaction point of the People's Committee of Tan Hung commune in Bau Bang district

Accordingly, by the end of September 2023, total credit capital reached more than VND 4.47 trillion, an increase of over VND 262 billion compared to the beginning of the year. Of these, central capital reached more than VND2.47 trillion, accounting for 57% of total, an increase of more than VND 228.5 billion, with credit capital for job creation and social housing programs... Local capital was nearly VND 1.9trillion, accounting for 43% of total, an increase of nearly VND 33.7 billion compared to the beginning of the year, reaching 17% of the plan.

Provincial VBSP branch is submitting a request for additional VND 115 billion in credit capital from the Government to serve the local loan program for job creation and another VND 200 billion from provincial State budget for the local social housing program. The increase in total policy credit capital has facilitated capital management and disbursement to promptly serve the local socio-economic development programs…

Reported by Thanh Hong-Translated by Kim Tin