The working group of the Policy Bank of Lao People’s Democratic Republic recently had a meeting with the Vietnam Bank for Social Policies and Hai Phong Branch to exchange and share experiences in implementing policy credit programs, thereby improving the quality and efficiency of credit model, while contributing to strengthen the special cooperative and solidarity relationship between Laos and Vietnam.
At the meeting, the representative of Hai Phong Bank for Social Policies shared with the Laotian delegation experiences in personnel and training, decentralization of operations of the social policy bank system; application of information technology in banking activities; measures in building credit programs. Statistics by the end of June this year, the total outstanding balance of Hai Phong 's policy credit programs reached more than 13 trillion VND, an increase of 14.11% over the same period last year, with more than 200,000 customers with outstanding loans. Social policy credit capital is invested in production development, livelihood creation, job creation and meeting the essential needs in the lives of the poor and other subjects. The policy Bank of Lao People’s Democratic Republic is currently providing credit for three main objectives: poverty reduction, development focus government, local and 3-construction village; and solving people's lives. The Bank is preparing to convert its model from the Policy Bank to the Rural Development Bank, providing financial services and supporting rural development./.