(HBO) - The COVID-19 pandemic recently has seriously affected disadvantaged people in Hoa Binh, especially the bank's customers who are poor and social policy beneficiaries.

 

Despite complicated developments of the COVID-19 pandemic, the provincial branch of the Social Policy Bank has timely disbursed capital to its customers.

Borrowers who have not repaid principaldebts, especially those that are under medical treatment or quarantine due to COVID-19, will have their debt payment deadline postponed.

The bank will also adjust the term of debts and provide new loans to help customers restore their production and business, while focusing on handling risky debts.

Amid the epidemic, thanks to its specific plans, the bank has promptly disbursed credit to its customers, completing the planned target and ensuring safety of its staff and customers.

In the first quarter, it disbursed 305.8 billion VND in loans to 9,139 customers.

By the end of March, total outstanding debt balance stood at over 3.17 trillion VND, equivalent to 99.8 percent of the year plan, up over 50.4 billion VND, or 1.62 percent, compared to 2019.

Of which, the outstanding debt financed by local entrusted capital is 43.4 billion VND, increasing by 10.5 billion VND, and overfulfilling the year's plan by 31 percent

The central Social Policy Bank has submitted a plan on reducing interest rates for poor households and policy beneficiaries to the Prime Minister. If the plan is approved, from April 1 to the end of 2020, the interest rates of loans to poor households and loan programmes with interest rates equal to those for poor households will be cut by 15 percent.

Meanwhile, the interest rates applied for those in other programmes will be cut by 10 percent.

In the coming time, the provincial SocialPolicy Bank will be tasked with providing loans to employers at a zero percent interest rate, to pay their employees who had to stop working for three months.

The value of this support programme is expected to total 16.2 trillion VND, benefiting about 3 million workers.

The provincial SocialPolicy Bank branch will closely follow the guidance of the central SocialPolicy Bank to timely provide loans for customers, towards helping customers overcome difficulties amid the pandemic./.

 


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