More than 121,000 people in Vietnam’s Central Highlands region have escaped poverty since 2013 thanks to credit programs launched by Vietnam Bank for Social Policies (VBSP), one of the two government-run policy banks in the country. As of end-October, VBSP has offered VND16.27 trillion worth of soft loans to more than one million poor households and other social beneficiaries in five Central Highlands provinces of Gia Lai, Dak Lak, Dak Nong, Lam Dong and Kon Tum. VBSP has posted a credit growth of 9% annually in the Central Highlands over the past years, versus the country’s average rate of 7.7%. The money has been delivered to infrastructure projects, including accommodation, safe water, and sanitation. Director of VBSP Duong Quyet Thang said that VBSP branches in the Central Highlands target to post credit growth of between 10% and 12% annually with overdue debt curbed below 0.4% in the coming years. (Vietnamplus.vn Nov 23)
