What is Social Policy Bank in English?

“Money is as close as one’s intestines,” a Vietnamese proverb emphasizing the importance of money in life. Sometimes, we need financial support to overcome difficulties or achieve our dreams. The Social Policy Bank acts as such a support. So, what is Social Policy Bank in English? Let’s find out!

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Social Policy Bank in English – Social Policy Bank

In English, Social Policy Bank is called Social Policy Bank, abbreviated as SPB. It’s a specialized bank operating as a development bank, focusing on supporting policy beneficiaries, the poor, and disadvantaged areas.

Social Policy Bank Building

The Role of Social Policy Bank

Social Policy Bank plays a crucial role in:

• Poverty reduction: Providing preferential loans to the poor and near-poor for production, business development, and improving living standards.
• Implementing social security: Supporting policy beneficiaries, war invalids, people with disabilities, orphans, etc.
• Socio-economic development: Focusing capital on programs and projects for socio-economic development in remote, isolated, and ethnic minority areas.

Services of Social Policy Bank

Social Policy Bank offers a variety of services, including:

• Preferential loans: Loans for production, business, housing, and student loans.
• Capital mobilization: Accepting savings deposits and term deposits.
• Payment services: Domestic and international money transfers, bill payments, etc.

A Story about Social Policy Bank

There was once a poor family in a remote mountainous area, relying solely on farming for their livelihood. They longed for a cow to plow their fields and improve their income. Thanks to a loan program from Social Policy Bank, they received a loan with preferential interest rates to buy a cow. Now, their life has significantly improved, and their children can attend school regularly.

Rural Family Receiving Bank Loan

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Spirituality and Social Policy Bank

Vietnamese people value spirituality. Many believe that business prosperity and a comfortable life are partly due to the blessings of gods and ancestors. Therefore, before borrowing from Social Policy Bank, many people often visit temples to pray for good luck and success.

Conclusion

Social Policy Bank is a solid support for the poor and disadvantaged. Understanding what Social Policy Bank is will help you access preferential capital sources, contributing to improving lives and developing the country’s economy.

If you need assistance, please contact Phone Number: 0968239999, Email: [email protected] Or visit us at: TT36 – CN9 Road, Tu Liem Industrial Zone, Phuong Canh Ward, Nam Tu Liem District, Hanoi. We have a 24/7 customer service team.

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