Ha Noi activates VND650-billion package to support disadvantaged groups

April 29, 2020 2:00 PM GMT+7

VGP – According to its Decision No. 1738, the Ha Noi People’s Committee has approved a plan to allocate VND650 billion (US$27.68 million) from the city budget to make loans to the poor and policy beneficiaries, thus helping them overcome losses due to the impact of the COVID-19 pandemic.

Accordingly, the aforementioned sum will be disbursed in an order of priority. Firstly, loan priority will be given to the households with debt rescheduling and extension who are in need of and are eligible for loans to restore their business and production activities. 

The next prioritized subjects are the poor and near-poor households, the households newly escaping from poverty, and those with middle living standards. Priority then goes to other policy beneficiaries, followed by production and business establishments, cooperatives, and small and medium-sized enterprises attracting workers.

In addition, Ha Noi will prioritize the sectors and areas affected by COVID-19, the industries serving agricultural production and supplying food, foodstuff and medical services for the people, and those serving the people’s essential needs.

The city assigns departments and functional agencies to review the capital allocation plans between districts and towns and report any arising issues to the city for appropriate adjustments, thus avoiding the backlog and waste of capital and improving the effectiveness of the entrusted funding.

The municipal Department of Finance should base on this decision and the disbursement progress of the Viet Nam Bank for Social Policies (VBSP) – Ha Noi branch to implement the procedures of transferring capital to beneficiaries in accordance with regulations.

The city asked units in charge of lending to make loans to the right subjects and for the right purposes, as well as to work with local authorities in making timely disbursements in line with the set order of priority.

The city’s VBSP branches should regularly review and resolve difficulties for the borrowers who are affected by the COVID-19 pandemic.

By Vien Nhu

 

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