Preferential Credit Policies for the Elderly

13:32, 11/07/2024

This is one of the prominent contents stipulated in Circular 96/2018/TT-BTC recently issued by the Ministry of Finance on October 18, 2018, regarding the management and utilization of funds for primary healthcare for the elderly at their place of residence, congratulatory events on longevity, and commendation of the elderly.

Accordingly, the provision of preferential credit to elderly individuals directly engaged in production and business, income generation, and poverty reduction is specified for implementation as follows in Circular 96:

- In cases where the elderly are classified as poor or other policy beneficiaries as defined by local regulations, directly engaged in production and business, income generation, and poverty reduction: preferential loans sourced from local budget funds shall be governed by the rates, terms, interest rates, processes, procedures, and loan security (if applicable) as per the regulations of the provincial People's Committee on managing and utilizing local budget funds entrusted to the Social Policy Bank;

- In cases where the elderly are directly engaged in production and business, income generation, and poverty reduction and are eligible for loans from the National Employment Fund: the loan funds shall be sourced from the National Employment Fund according to the annual local plan. The principles, loan amounts, terms, interest rates, and loan security conditions; processes and procedures for obtaining loans shall be implemented in accordance with the legal provisions on employment support policies and the National Employment Fund.

See details in Circular 96/2018/TT-BTC, effective from January 01, 2019.

-Thao Uyen-

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