Poor households eligible for preferential loans for abroad work

Households below the national poverty line in Ho Chi Minh City who register to work abroad are eligible for preferential loans, said Deputy Director of the municipal Department of Labor, Invalid and Social Affairs Tran Ngoc Son.
Poor households eligible for preferential loans for abroad work

Deputy Director Son made the statement in a program themed “HCMC issued new policies to support poor people” organized by the Voice of Ho Chi Minh city People (VOH) and the city People’s Council yesterday.

The city People’s Council has approved preferential credit policies for the low-income households in the sustainable poverty reduction program.

HCMC authority will provide enormous financial support for children of poor and near-poor households and households just escaping near-poor line who want to work abroad as per contract.

They can ask for maximum loan as per their work contract instead of maximum amount of VND100 million without guarantee of loan.

Specifically, city authorities will increase the loans for the near-poor households and poor households.

From now on, these above-mentioned households are eligible to asking for loans of VND100 million. For these households just escaping near-poor line, they are eligible for VND100 million in 60 months.

Mr. Son said that increase in loan will remove difficulties for those who registered to work abroad with fee of over VND100 million as well as facilitate those who want to go abroad to work on contract.

When it comes to the city’s poverty elimination in the next time, Mr. Son said that nearly 60,000 poor and near-poor households in the city in early 2019 accounting for 2.41 percent of total households. The city strives to reduce poor and near-poor households to 0.7 and 0.9 percent yearly averagely respecitively.

Hopefully, by end of 2020, the city will have no poor households and GDP per capita will surge by 3.5 times compared to 2011.