Nhan Dan/VNA - Over 7 million poor women across the country have received loans from the Social Policy Bank (SPB) over the past five years to develop business and escape poverty.

The figure was released by the Vietnam Women’s Union at a conference held in Ho Chi Minh City on July 25 to review lending activities of the Union and the bank over the past five years.

According to the Union's report, by June this year, the union’s total lending was over VND 16,000 billion (US $941.1 million), making up over 40% of the Social Policy Bank’s total lending, VND 13,000 billion over the figure in 2004, the first year of the reviewed period.

The central province of Thanh Hoa had the highest lending (VND 865 billion) and was followed by the central province of Nghe An (VND 632 billion). Meanwhile, lending of the northern mountainous province of Dien Bien got more than VND 94 billion, the lowest among localities.

The rate of overdue debt reduced to 0.96% at present from 2.6% in 2004.

Along with providing loans, the Union also held many activities to help women in vocational training and job generation. As a result, almost 500,000 households of poor women escaped poverty and saw improved living conditions.

Speaking at the conference, Governor of the State Bank of Vietnam and bank CEO, Nguyen Van Giau, said the lending method between the bank and the Union was effective in helping channel capital directly to beneficiaries and reach the target of poverty reduction.