Photo: vbsp

During five-year operation, the Vietnam Bank for Social Policies (BSP) has provided loans for 9.1 million turns of poor households and more than 750,000 poor students, and helped 1.4 million families escape poverty and 1.9 million people get jobs.

The figure was announced at a meeting in Hanoi on September 8 to review its five-year operation and receive the Independence Order, third class.

The BSP has played an important part in the poverty reduction and social stabilization programme. By the end of August 2008, the bank’s total capital reached VND45,000 billion, five time more than its 2002 figure with an annual average increase of 40 percent.

The bank has taken part in 8 poverty reduction projects worth more than US$72 million funded by international organizations and 13 other technical assistance projects by foreign governments and international financial organisations.

At the meeting, deputy Prime Minister Nguyen Sinh Hung said that the bank should mobilise all available sources of capital to invest in local projects, at both provincial and district levels. He also urged relevant ministries, departments and people’s committees to help the bank fulfill its assigned tasks.

The deputy Prime Minister presented the Independence Order, third class to the bank.

Source: VOV