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Capital loaning policy for ethnic minority in extremely difficult area

Posted at: MONday - 15/04/2013 09:55 - post name: admin
On 05 March 2007, the Prime Minister issued the Decision No. 32 regarding loaning capital for production development for ethnic minorities households who are in extremely difficult conditions.
Loaners are ethnic minority households who settle in difficult areas and have three following conditions: having average income per capita below 60,000 VND/month; total property value of each households do not exceed 03 million VND (value of land use right, camps on the mountainous fields and houses supported by the State and other organisation are not calculated. These households have directions but  laking or not having capital for production.
The households who  meet the above conditions can be loaned one time or by instalment without interest. Total limit of each instalment should not be exceeded to 05 million VND per household and they should not mortage with their properties, administrative cost for loaning will be free for them. Loaning period will be based on purposes of using capital, solvent ability and regulations stipulated by Bank for Social  Affair and Policies.  If the loan come to the payment period, but the loaners are still in the extremely difficult conditions have demand to use the capital, they will be considered to extend the payment by the bank.
To ensure these policies coming to Van Kieu ethnic people, RDPR combined with Fatherland Front Committee of Quang Ninh District to establish key farmer groups to popularise the policies that relate to ethnic minorities and mountainous area to Van Kieu ethnic people.