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In the 2010-2011 school year, the Bank for Social Policies has ordered to mobilize around VND10trillion to further implement a credit program for needy students and pupils, including VND4trillion-VND5trillion for 2010. The bank will mobilize the loan by calling for commercial banks to buy its government-insured bonds.

In 2010, each student will be allowed to borrow up to VND 860,000 per month. To date, there are nearly 1.7 mln students nationwide who have taken loans from the program. Over the three years since 2007, when the program began, the government has given VND18 trillion for its implementation. The Bank for Social Policies has loaned VND17,842 bln and has about VND200 bln left of the State budget contribution.

Reported by Thanh Hong-Translated by K.T