7.2 million households get credit loans from VBSP

PANO - Since its establishment in 2003, Vietnam Bank for Social Policies (VBSP) has provided preferential credit loans for 7.2 million households, said Nguyen Van Ly, the bank’s vice general director.

Thanks to the government’s preferential credit loans, over 1.2 million households have escaped poverty in the past five years. There now remain over 4 million families with bank loans.

Accordingly, each poor household can get a loan of VND 5.7 million on average. As of December 31, 2007 the total debit balance was estimated at VND 23,429 billion, an increase of VND 16.4 billion compared to 2003.