Hanoi expands local access to social policy credit services
This policy reflects Hanoi’s commitment to decentralizing credit services and ensuring that social lending remains accessible and responsive to local needs.
THE HANOI TIMES — A main transaction office for the Vietnam Bank for Social Policies (VBSP) will be established at the People’s Committee headquarters in every ward and commune in Hanoi.
Truong Viet Dung, Vice Chairman of the Hanoi People’s Committee, signed this directive to strengthen the efficiency of VBSP operations at the grassroots level across the capital.
Locals at a ward-level People’s Committee office in Hanoi. Photo: Pham Hung/The Hanoi Times
In addition to these offices, secondary sites will be located in villages or residential areas within commune-level offices or village cultural houses. Having these offices in convenient locations will ensure that residents seeking access to preferential credit can easily reach them.
According to the directive, VBSP transaction offices will operate on a fixed monthly schedule, providing service users with a predictable system while maintaining the bank’s community-centered, proximity-based model.
This approach is designed to uphold a people-first philosophy in managing policy credit, efficiently supporting beneficiaries, and contributing to the city’s inclusive socioeconomic development.
The vice chairman urged local governments to collaborate with the VBSP to install signage and information boards at transaction points to increase visibility and public oversight.
Local governments are also instructed to appoint an official to oversee policy credit activities, verify loan applications, and support residents promptly.
They must also attend end-of-session briefings at transaction sites to address any issues related to credit operations in their localities immediately.
Source: Official Dispatch No. 4139/UBND-KT dated July 19 by the Hanoi People’s Committee
