The Prime Minister signed the Decision No. 28/2015/QD-TTg dated July 21, 2015 of the Prime Minister on credit policy for households escaping poverty, prescribing credit loans from the Bank for Social Policies for household escaping poverty to develop production and business in order to have a stable life and make sustainable poverty reduction.
Households escaping poverty includes households that used to be poor, households living near poverty which have annual per capita income higher than the standard of households living near poverty through investigation and review, are recognized by the People’s Committees of communes and of which names have been deleted from the list of poor households, households living near poverty for a maximum of 3 years. The lending interest rate applied to households escaping poverty is equal to 125% of the lending interest rate applied to poor households defined in each period, overdue loans shall be charged at the rate of 130% of lending interest rate.
Loan size shall be agreed by the Bank for Social policies and households escaping poverty which does not exceed the loan size of the same type for production and business for poor households stipulated in each period. Loan term shall be agreed by the Bank for Social Policies and households escaping poverty based on production, business cycle and solvency customers which shall be within 5 years.
This Decision takes effect on September 5, 2015 and is made disbursement to the end of December 31, 2020.
Source: luatvietnam.vn
