To launch Day of Savings for the Poor

Saturday, 30/04/2022, 23:59 [GMT+7]

To launch Day of Savings for the Poor

Khanh Hoa Branch of the Bank for Social Policies (VBSP) and associations and mass organizations have just issued a joint plan to coordinate in launching the "Day of Savings for the Poor".

According to Nguyen Van Cuong - Deputy Director of the provincial VBSP, the program "Day of Savings for the Poor" aims to create financial resources to supplement social policy credit capital to meet the increasing borrowing needs of the poor and other policy beneficiaries, creating conditions for people to access preferential credit policies to restore production influenced by the Covid-19 epidemic, partly implement the poverty reducing target in the period of 2022 - 2025 throughout the province. In addition, the program also aims to mobilize organizations, individuals, businesses, socio-political organizations and associations in the province to actively participate in depositing savings at VBSP to join hands to create capital sources for poor households and policy beneficiaries; contribute to the implementation of social security policies according to the guidelines of the Party and State.

Organizations and individuals deposit money at the location of the launching ceremony or at the offices of the provincial and district VBSP and 136 fixed transaction points in communes, wards and townships.

Deposit interest rates are applied according to the regulations of the General Director of VBSP at the time of deposit. The interest rate for a term of 12 months or more is 5.5%/year.

The program aims to mobilize 60 billion VND in 2022, including 20 billion VND by the Farmers' Association, 20 billion VND by the Women's Association, 10 billion VND by the Veterans' Association and 10 billion VND by the Youth Union.

The Board of Directors of the provincial Bank for Social Policy will hold the launching ceremony of the Day of Savings for the Poor on May 10.

In order for the program the Day of Savings for the Poor to spread and receive the attention of organizations and individuals, VBSP will closely coordinate with organizations, associations and mass organizations. In the joint plan on implementing the cooperation program between VBSP and the Farmers' Association, the Women's Association, the Veterans' Association and the Youth Union, the tasks of each unit and mass are also assigned.

The provincial VBSP will coordinate with the mass media to promote propaganda activities about this program in order to attract attention and create a spillover in the community; at the same time, summarize and report the organizational results of the campaign by unit of association, mass organization to promptly praise typical agencies, units, enterprises and individuals participating in the Day of Savings for the Poor.

Mai Hoang

Translated by T.T