Vietnam Bank for Social Policies, abbreviated as VBSP was established under Decision No.131/2002/QĐ - TTg dated October 4, 2002 by the Prime Minister on the basis of reorganization from Vietnam Bank for the Poor. The establishment of VBSP creates favorable conditions to expand credit outreach to poor households, disadvantaged students and policy beneficiaries who need loans for job creation or/and working abroad in a certain duration as well as economic organizations and business households in special difficult communes in mountainous, remote and isolated regions (program 135). This is really good news for policy beneficiaries since they keep having chances to access the formal preferential funding source of the State, which is especially on the ground of the seven-year achievements of Vietnam Bank for the Poor.

Vietnam Bank for Social Policies has the uniform management and administration apparatus throughout the country with chartered capital of VND 5,000,000,000,000 and shall be supplemented accordingly from time to time upon its operational requirements. The life of Vietnam Bank for Social Policies is 99 years.

In the Decision on establishment of Vietnam Bank for Social Policies, the Prime Minister defines that: VBSP will act as a non-profit organization to serve the poor and other policy beneficiaries. This is an important but extremely difficult task. VBSP staff have been bringing ready bases into full play as well as fulfilling extensive functions so as to develop a new credit channel to effectively serve policy beneficiaries nationwide.

VBSP officially started its operation since March 11th, 2003 and rapidly expanded its operation network ever since. Up to now, administrative/ governing apparatus of VBSP includes Board of Directors (BOD) at central level, 64 BOD Representative Units at provincial level and more than 600 BOD Representative Units at district level.

Management apparatus of VBSP established at 3 levels is focusing on steering and implementing funds mobilization and providing loans for the poor and other policy beneficiaries. So far, VBSP system includes the Head Office, one transaction center, 64 provincial-level branches, 597 district-level transaction offices and 8076 transaction points at commune level. .

Presently, Vietnam Bank for Social Policies is conducting a great number of solutions, which has brought about initial achievements and tackled some difficulties and obstacles with high commitment to better fulfill the assigned tasks in order to become an actually effective economic force on the poverty reduction front, contributing to socio-political stability of the country.

Organizational chart of Vietnam Bank for Social Policies

Model of Vietnam Bank for Social Policies

BOARD OF DIRECTORS OF VBSP

Mr: Nguyen Van Giau Governor of the State Bank Acting Chairman
Mr: Tran Xuan Ha Vice Minister - Ministry of Finance - Member	Mr: Nguyen Dong Tien Deputy Governor - State Bank of Vietnam - Member
Mr: Nguyen Bich Dat Vice Minister - Ministry of Planning and Investment - Member	Mr: Le Bach Hong Vice Minister - Ministry of Labor, War Invalids and Social Affairs - Member
Mr: Bui Ba Bong Vice Minister - Ministry of Agriculture and Rural Development - Member	Mr: Ha Hung Vice Chairman - Committee of Ethnic Minorities - Member
Mr: Le Hoang Minh Vice Permanent Chairperson - Vietnam Farmers Association - Member	Ms: Nguyen Thi Kim Thuy Vice Chairperson - Vietnam Women's Union - Member
Ms: Ha Thi Hanh General Director of VBSP - Member	Mr: Vo Duc Tien Chief of Supervision Board of Directors of VSBSP - Member

 BOARD OF MANAGEMENT OF VBSP