The bank’s leaders said it has prepared sufficient capital to meet all requests for loans by eligible students in the new academic year of 2014-15.
Deputy General Director of VBSP, Nguyen Van Ly highly values the programme’s human value, and attributed its success to an open and transparent procedures, as well as capital management. With the close co-ordination of local authorities, VBSP can also perform transactions in communes, reducing fees and procedures for applicants.
According to Decision No 1196 by the Prime Minister on July 19, 2013, the maximum loan for each student is currently VND1.1 million per month (US$55). However, Ly is proposing to raise this amount as the cost of living is increasing.
