30 People’s credit funds set up in Dong Nai

Vice Chairman of the Provincial Peoples Committee Ao Van Thinh presents certificates of merits to Peoples Credit Funds for their achievements

(ĐN)- According to a report from the State Bank of Vietnam in Dong Nai,  the province has established 30 grassroots people’s credit funds over the past 15 years with a total working capital of over VND 530 billion and nearly 40,000 members, 28 of which have come into operation. The local People’s Credit Funds has so far mobilized over VND400 billion in deposits. Each People’s Credit Fund in the province has deposit balance of over VND14 billion on average, 7.5 times higher than in 1999. The funds have recorded a total outstanding loan balance of VND 475 billion, of which, short-term loans accounted for VND 406 billion or 85.4 per cent of total loans.

Reported by Van Nam