[NEWS] - Support workers to access low-interest credit packages

With preferential loans, many citizens will not fall into the spiral of black credit.

In Ho Chi Minh City, from the beginning of the year until now, the Trade Union in industrial and export processing zones has coordinated with the CEP Microfinance Organization to deploy a series of credit packages with a fairly low interest rate of only 0.4%/month. This is one of the highly reputable cheap capital solutions.

Both husband and wife are workers, with an income of only about 8 million VND/per month/per person, their children are in poor health, often sick, and the cost of medicine is quite expensive, so before that, Ms. Tham (District 7) often borrow from everywhere to cover expenses. Since the trade union organizations introduced the loan package with a low-interest rate of only about 0.65%/month, at the end of the term, they also received savings books accumulated from interest payments during the loan period, Ms. Tham and The workers seemed highly excited.

"I am very touched and grateful to the city-level union for acting as a bridge for workers like us, to promptly assist us in resolving difficulties and problems so that we can work peacefully," Ms. Tham shared.

The credit package Ms. Tham is borrowing belongs to CEP Microfinance Institution. This organization is the predecessor of the Capital Support Fund for poor workers to create their jobs, founded by the Ho Chi Minh City Labor Confederation.

Recently, this organization joined the union of export processing and industrial zones in the city. Ho Chi Minh City has just signed an emergency credit package of up to 300 billion VND, with an interest rate of only 0.4%./month calculated based on the initial outstanding balance, with the application period from the end of September 2023 to the end of the month. April 2024. The goal is to help workers and laborers access preferential loans, overcome difficulties, and not fall into the spiral of black credit.

Mr. Hoang Van Thanh - Chairman of the Board of Members of CEP Microfinance Organization said: "We continue to work with trade unions in screening and selecting customer groups that suit the requirements of product packages. We have tried to make procedures and documents as simple as possible, helping customers easily access this preferential capital source."

"Priority is given to workers in difficult circumstances, reduced working hours, reduced income, and especially cases of pregnant women and young children," Ms. Vu The Van - Chairman of the Trade Union of Export Processing Zones and industry of Ho Chi Minh City said.

In addition, low-interest credit packages are coming soon to take care of the lives of workers and laborers, thereby helping to prevent the evils of black credit, trade unions of export processing zones, and industries. Ho Chi Minh City has been planning to care for and reward the education of over 15,000 children of workers and laborers during this Mid-Autumn Festival.

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Hoang Yen (Collection source)