The Bank for Social Policies has announced that it will mobilize VND10 trillion (US$526 million) over the next two years to help needy students.
This undated file photo shows Vietnamese students
It will raise between VND4 and 5 trillion ($263 million) this year to implement a credit program for students. The bank will call for commercial banks to buy its government-insured bonds.
In 2010, each student will be allowed to borrow up to VND 860,000 ($45) per month.
To date, there are nearly 1.7 million students nationwide who have taken loans from the program.
Over the three years since 2007, when the program began, the government has given VND18 trillion for its implementation. The Bank for Social Policies has loaned VND17,842 billion and has about VND200 billion left of the State budget contribution.
