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Preferential policy loans are helping more people in Hai Phong find jobs, secure stable housing and improve their living standards.
After years without permanent housing, Pham Van Than, 57, moved with his family earlier this year into a nearly 52-square-meter social housing apartment in the Pham Dung residential area of Hong An Ward.
Than, a sales employee at a company in the city, and his wife, an primary school teacher, had long struggled to save enough to buy a home while raising their three children. Although their income covered daily expenses, home ownership remained out of reach.
A preferential loan of VND 720 million from the Hong Bang Transaction Office of the Vietnam Bank for Social Policies (VBSP) Hai Phong Branch, equivalent to about 70% of the apartment's purchase price, enabled the family to buy their first home and settle down.
Besides employment and social housing lending programs, policy credit also supports poor and near-poor households, students, and rural clean water and sanitation projects, among other initiatives. Employment and social housing loans account for the largest outstanding balances, reflecting their direct contribution to job creation, stable housing and human resource development.
Outstanding loans under the employment program totaled more than VND 6.9 trillion at the end of June 2026, accounting for 43.2% of total policy lending, while outstanding social housing loans reached nearly VND 1.65 trillion, or 10.3% of the total.
The figures highlight the concentration of preferential lending in areas that directly affect people's livelihoods. While employment loans help borrowers expand production and business activities, social housing loans enable workers to secure stable accommodation and remain in long-term employment.
Alongside central government funding, Hai Phong has continued to increase local resources for policy lending. At the beginning of 2026, the Hai Phong People's Committee allocated an additional VND 1 trillion in entrusted funding from the city's public investment budget to the Vietnam Bank for Social Policies.
By the end of June, locally entrusted funds had exceeded VND 4.008 trillion, up more than VND 1.05 trillion from the end of last year.
The increase demonstrates that the VBSP Hai Phong branch is not only implementing centrally funded lending programs effectively, but also expanding local funding sources to better meet residents' borrowing needs.
According to Vu Tuan Hung, Deputy Director of the VBSP Hai Phong Branch, policy lending not only helps people overcome immediate financial difficulties but also lays the foundation for sustainable livelihoods.
The employment program enables borrowers to invest in production, expand businesses and create jobs for themselves and local workers. The social housing program helps workers secure stable housing and remain in the workforce, contributing to the city's industrial and services development.
Although each policy lending program targets a different group of beneficiaries, all contribute to improving living standards and advancing social welfare objectives.
The impact of policy lending is measured not only by the amount of credit disbursed, but also by the jobs it creates and the greater stability it brings to people's lives.
Hai Phong News
