Quang Ngai Provincial Federation of Labor disburses over 1.7 billion VND from the National Employment Fund for union members

On September 17, the Quang Ngai Provincial Federation of Labor announced that it has so far disbursed over 1.7 billion VND to union members and workers borrowing capital from the National Employment Fund for union members, contributing to improving their lives. The average lending rate is over 33 million VND/case, the loan term is 48 months, the interest rate is from 6-6.5%/year.

Through the assessment of loan activities, it can be seen that the capital is disbursed promptly; has created conditions for union members, fathers, mothers, husbands/children of union members of working age who are still unemployed, lose their jobs... to access appropriate interest capital to invest in developing the family economy, with an average monthly increase of 1 million VND/borrow contract; cases of overdue debt accounting for a low proportion.

From current practical needs, the Provincial Federation of Labor recommends and proposes that the Vietnam General Confederation of Labor expand the subjects of borrowing capital, including union members and workers who have jobs but need to borrow capital to develop production and expand household economy.

At the same time, it is recommended that the government and state management agencies on the National Employment Fund amend and supplement mechanisms and policies to create more favorable conditions in the process of completing documents and procedures for borrowing capital for union members.

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