(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./.
Once a mountainous province facing many challenges, Hoa Binh has, after more than a decade of implementing the national target programme on new-style rural area development, emerged as a bright spot in Vietnam’s northern midland and mountainous region. In the first quarter of 2025, the province recorded positive results, paving the way for Hoa Binh to enter a phase of accelerated growth with a proactive and confident mindset.
Hoa Binh province is steadily advancing its agricultural sector through the adoption of high-tech solutions, seen as a sustainable path for long-term development.
The steering committee for key projects of Hoa Binh province convened on May 14 to assess the progress of major ongoing developments
A delegation of Hoa Binh province has attended the "Meet Korea 2025" event, recently held by the Ministry of Foreign Affairs, the Embassy of the Republic of Korea (RoK) in Vietnam, the Korea Trade-Investment Promotion Agency, and the People's Committee of Hung Yen province.
Hoa Binh province joined Vietnam’s national "One Commune, One Product” (OCOP) programme in 2019, not simply as a mountainous region following central policy, but with a clear vision to revive the cultural and agricultural values in its villages and crops.
From just 16 certified products in its inaugural year to 158 by early 2025, the One Commune One Product (OCOP) programme in Hoa Binh province has followed a steady and strategic path. But beyond the numbers, it has reawakened local heritage, turning oranges, bamboo shoots, brocade, and herbal remedies into branded, market-ready goods - and, more profoundly, transformed how local communities value and present their own cultural identity.
.jpg)
