The State Bank of Vietnam published an update on the Vietnam Bank for Social Policies’ (VBSP) fourth-quarter 2024 Board meeting, chaired by SBV Governor Nguyen Thi Hong in her capacity as Chair of the VBSP Board. The meeting reviewed 2024 policy credit performance and outlined operational priorities for the period ahead. As of 31 December 2024, total funding for policy credit activities exceeded VND 376 trillion, up VND 29.823 trillion from 2023, including VND 50.681 trillion of entrusted funds from local budgets (up VND 11.506 trillion). Outstanding loans under policy credit programmes reached VND 367.631 trillion across nearly 6.9 million customers, with overdue and rescheduled debt at 0.56% of total outstanding loans; lending was reported to have supported employment for more than 712,000 workers and financed education, rural water and sanitation (nearly 1.759 million works), and housing including 1,143 homes for poor households and more than 6,200 social housing units. Looking ahead, the Chair asked the VBSP system to continue implementing Directive No. 39-CT/TW on improving the effectiveness of social policy credit and to roll out National Assembly Resolution No. 111/2024/QH15 on special mechanisms and policies for national target programmes. Priorities included stepping up capital mobilisation, notably additional local budget entrusted funds, receipt of the 2% deposits from state-owned commercial banks, and market deposits to support disbursement and system liquidity, alongside measures to strengthen credit quality, communications, and digital transformation to broaden inclusive financial products and services for VBSP customers.

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