More than 40,000 poor households in the south central province of Khanh Hoa escaped from poverty in the past 15 years thanks to the Government’s credit program. The program was carried out under the Government’s Decree 78/2002/ND-CP issued in October 2002 on credit for poor households and policy beneficiaries. In 2017, the transaction office of the Vietnam Bank for Social Policies in mountainous Khanh Vinh district has expanded its coverage to all 14 communes and towns of the locality, creating favorable conditions for poor people and policy beneficiaries to access the credit. So far, more than 6,200 households, or 70% of the total households in Khanh Vinh, mostly poor families and those from ethnic minority groups, have benefited from the program with VND168 billion ($7.39 million). Nguyen Thi Ngoc Ly from the office said that the office has coordinated with socio-political organizations to bring the capital to the needy to help them develop their production, thus increasing their income. Among 13 credit programs that the bank is running in Khanh Hoa, the program targeting the poor is a focus in an effort to reduce poverty in a sustainable manner. Each household can borrow maximum VND50 million ($2,200). So far, the program has lent VND1.6 trillion ($70.4 million) to more than 11,000 households, raising the total outstanding balance to VND267 billion. Meanwhile, the program offering credit to households living close to poverty line have benefited 18,000 households with VND425 billion. (english.vov.vn Oc 10)
