Social policy credit plays significant role in multidimensional poverty reduction
Social policy credit capital has played a significant role in reducing multidimensional poverty rate, from 14.2 percent in 2011 to 2.93 percent by the end of 2023.
The above finding was released at a teleconference to review 10-year implementation of Directive No. 40-CT/TW of the 11th Party Central Committee’s Secretariat on enhancing the Party’s leadership over social policy credit. Over the last decade, more than 21 million households have been able to access social policy credit loans worth more than VND373 trillion (US$14.9 billion) to develop livelihoods. Of the above households, more than 3.1 million households escape poverty and over 4.2 million laborers have jobs, according to the Viet Nam Bank for Social Policies (VBSP).
Thuy Dung
