31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Home / Hanoinews
Hanoi allocates US$28 million in trust fund for vulnerable people, businesses
Ngoc Thuy - Tran Long 17:53, 2020/04/07
The fund is expected to meet 65% of capital needs for vulnerable people to help them resume production and services.

Hanoi plans to inject VND650 billion (US$28 million) in trust fund via the Vietnam Bank of Social Policies (VBSP) – Hanoi branch so that the lender could provide preferential loans for the poor, social beneficiaries and small businesses affected by the Covid-19 pandemic.

 Illustrative photo. 

The amount is expected to meet 65% of capital needs for vulnerable people and businesses to help them resume production and services and mitigate negative impacts of the pandemic, thus ensuring social security.

The Hanoi People’s Committee requested the VBSP -  Hanoi branch to quickly disburse the fund to beneficiaries in an efficient, timely and transparent manner.

Those that are entitled to receiving loans from the trust fund include poor, near-poor households, social beneficiaries, cooperatives, small and medium enterprises, while the fund would prioritize enterprises operating in fields affected by the pandemic, agricultural production, and essential services.

A report from the VBSP – Hanoi branch indicated severe impacts from the African swine fever, bird flu and Covid-19 pandemic on lives of the poor and social beneficiaries in the city.

It is estimated over 25,000 customers would need new loans worth VND1 trillion (US$42.91 million) to cope with the Covid-19 pandemic, while nearly VND412 billion (US$17.68 million) in debt has not been recovered as a result of the current crisis.

According to the VBSP, customers who are small businesses in the fields of services, healthcare and transportation are the hardest hit. This group recorded a combined outstanding loan of VND2.38 trillion (US$102.14 million), or 28% of the total.

TAG: Hanoi trust fund covid-19 coronavirus nCoV pandemic vulnerable people poor households
Other news
12:00, 2022/00/05
Hanoi's lawmakers to begin discussions on socio-economic issues on Dec 7
The city's lawmakers would assess the local authorities' performance in realizing socio-economic objectives in 2022 and discuss the priorities for the following year.
21:00, 2022/00/03
Hanoi seeks cooperation with ASEAN cities for shared prosperity
The Hanoi delegation attended the ASEAN Mayors Forum and the meeting of Governors/Mayors of ASEAN Capitals on December 2-3 in Phnom Penh.
21:29, 2022/29/02
Hanoi to pilot public bicycle-sharing service in six metropolitan districts
The project is expected to help people exercise and protect the environment.
20:50, 2022/50/02
Hanoi mayor urges drastic actions to lift public investment performance
Hanoi aims to end the year with a high disbursement rate of public funds, seen as a critical task for overall socio-economic development efforts.
16:24, 2022/24/02
Discovering trophy replica for winning World Cup dreamers
These days in Qatar, 32 of the world's top football teams are competing to win the prestigious gold cup. In Hanoi, for just $5, you can raise a golden trophy copy, display it or use it as a paperweight by visiting Bat Trang pottery village in Gia Lam District.
20:59, 2022/59/01
Hanoi eyes more economic zones and satellite cities
The authorities of Hanoi define the construction of satellite cities and economic zones as key to the city's sustainable urban development.