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Supervise the usage of capital at the Fund for Development Investment and Credit Guarantee

Wednesday, 02/05/2018

On 2018/4/26, the provincial People's Council supervised the using capital at the Fund for Development Investment and the Credit Guarantee. Mr. Nguyen Manh Thang, Head of the Economic - Budget Board, the provincial People's Council chaired the supervision.

Mr. Nguyen Manh Thang, Head of the Economic - Budget Board (the People’s Council of the province) concluded the supervision session

The Fund for Development Investment and Credit Guarantee of Vinh Phuc Province was established on the basis of inheriting the Credit Guarantee Fund for small and medium enterprises (under the Decision No. 2728/QD-UBND dated on 2012/12/23 of the Provincial People's Committee) - a State financial institution of the provincial People's Committee.

The main function of this Fund is to help the provincial People's Committee implement policies on mobilizing capital to invest and develop the socio-economic infrastructure, perform credit guarantee for small and medium enterprises; provide loans for important projects and programs to promote the socio-economic development of the province.

Till the end of 2017, the total outstanding loans for investment of the Fund reached more than 157 billion dong, credit outstanding loans was over 22 billion dong.

According to the Fund for Investment Development and Credit Guarantee of Vinh Phuc province, after more than five years of operation, the Fund has created favorable conditions for enterprises to complete the construction works and projects of the province on schedule, then helping businesses restructure and change financial plans, improve production and business activities.

At the supervision session, the delegates proposed the Fund to clarify issues and contents related to regulations on loan subjects, collateral for organizations and enterprises to borrow money, the recovery of capital; and provided solutions in the coming time.

After listening to representatives of the Fund explaining the contents related to the conclusion of the supervision, Mr. Nguyen Manh Thang, highly appreciated the achievements for Vinh Phuc.

He proposed Vinh Phuc Fund for Investment Development and Credit Guarantee Fund to continue completing the report, re-evaluating guarantee activities, interest rates and regulations of the State to ensure the efficiency of loans.

Vinh Phuc News



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