Prime Minister Nguyễn Xuân Phúc meets with staffs of the Vietnam Bank for Social Policies (VBSP) yesterday. — VNA/VNS Photo Thống Nhất

HÀ NỘI – Prime Minister Nguyễn Xuân Phúc has applauded the significant contributions of the Vietnam Bank for Social Policies (VBSP) to the country’s poverty reduction and socio-economic development.

He was speaking yesterday during a Lunar New Year meeting at the bank.

The leader stressed the goal of building the socialist-oriented market economy set by the Party and the State, with special attention paid to social welfare issues.

The VBSP is an important channel to fulfil this goal, he said, noting that the bank’s branches have successfully implemented incentives of the Party and the State to help the poor.

Thanks to efforts by the bank and the entire political system, funding of the Party and State has reached remote areas and people in need, he said.

Reiterating the country’s target of inclusive growth with no one left behind, the PM said more effort should be made to ensure poverty reduction and drive back black credit.

He asked relevant agencies such as the Ministry of Finance and the Government’s Office to consider allocating charter capital to the bank annually to match the changing situation.

Localities should pay more attention to policy credit and VBSP’s activities, as well as support to the poor.

After 16 years of operation, VBSP has given loans to more than 34.1 million poor households and social policy beneficiaries, helping more than 5.1 million households escape poverty and generate jobs for more than 3.6 million people.

The loans have also enabled 3.6 million disadvantaged students to go to school and helped build more than 11.3 million clean water supply systems and hygiene facilities in rural areas and nearly 105,000 houses in the Mekong Delta. — VNA