Online meeting "Sharing experiences on measures for supporting Covid-19 hit customers”

(VBSP News) On June 24, 2021, VBSP collaborated with Policy Research Institute (PRI), Ministry of Finance, Japan and JFC-Micro to hold an online meeting on "Sharing experiences on measures for supporting Covid-19 hit customers". Mr. Sakata Wataru - President of PRI, Ministry of Finance, Japan and Ms. Tran Lan Phuong - Deputy General Director co-chaired the meeting.

Bridge point at VBSP

At the meeting, a representative from JFC-micro presented about current economic condition of SMEs in Japan and measures against Covid-19. After that, a representative of VBSP shared experiences on measures for supporting Covid-19 hit customers. Specifically, in the context of the complicated situation of the Covid-19 pandemic, VBSP always closely follows the direction of the Prime Minister, the State Bank of Vietnam to actively promote the prevention of the Covid-19 pandemic. Also, VBSP is implementing solutions to support and remove difficulties for customers affected by the Covid-19 pandemic such as loan extension, repayment term restructuring, provisioning of new/additional loans; free money transfer fee for customers until the end of 2021; following 5K message to ensure safety against pandemic at commune transaction points nationwide. As of June 14, 2021, VBSP has over 5 million turns of customers with VND 181,621 billion of outstanding loans affected by the Covid-19 pandemic. In which, there are 376 turns of corporate customers with VND 172 billion of outstanding loans.

During the discussion, the participants raised questions and opinions, shared experiences in the process of disbursing loans to customers on the outbreak of the pandemic, disbursing new loans to customers affected by the pandemic; handling risky debts during the Covid-19 situation; exchanging applications of the previous cooperation process in the management and administration of the unit.

Bridge point in Japan

Besides, Deputy General Director Tran Lan Phuong summarized the operation results of VBSP in 20 years of operation. As of June 14, 2021, VBSP’s total asset is VND 254,965 billion and outstanding loans are over VND 239,000 billion, with nearly 6.5 million active customers; overdue debt and frozen debt ratio is 0.7% of total outstanding loans. Those results have showed the role, meaning and importance of VBSP in poverty reduction and social security assurance in Vietnam. In addition, Deputy General Director Tran Lan Phuong also informed about the solutions that VBSP is implementing in the complicated situation of the Covid-19 pandemic.

Regarding the successful results of the technical cooperation project between PRI, JFC-Micro and VBSP from 2003 to 2011, Deputy General Director Tran Lan Phuong thanked the Japanese partners for their help and support. Specifically, the Japanese partners has supported and provided the necessary experience and knowledge on appraisal methods in the process of lending to small businesses, start-ups and student loans; sharing experiences in loan management, branch management and administration, developing corporate credit appraisal documents and improving the capacity of VBSP's internal training system.

Mr. Sakata Wataru - President of PRI, Ministry of Finance, Japan concluded that the meeting will open up a flexible and timely cooperation relationship in the coming time. It is important for both of us to share information and experiences on the impact of the Covid-19 pandemic in the general context to learn and come up with appropriate solutions. Mr. Sakata Wataru also emphasized, although the technical cooperation project between the two sides has ended a long time ago, he hoped that the relationship among VBSP, JFC-Micro and PRI would be developed continuously.

vbsp.org.vn