An Giang: Effectiveness of social policy credit programs

Over the years, the An Giang Provincial Branch of the Vietnam Bank for Social Policies (VBSP) has focused on comprehensively directing all aspects of its operations, promptly disbursing funds to meet the capital needs for production and business of poor and near-poor households and other policy beneficiaries. This has helped thousands of people in the province access preferential loans to develop their household economies and strive to escape poverty sustainably. In 2024, the socio-economic situation of Cao Bang province continued to improve positively, achieving fairly comprehensive results despite being heavily affected by natural disasters. One of the province's growth drivers is the funding from the National Target Program for socio-economic development in ethnic minority and mountainous areas for the period 2021-2030 (National Target Program 1719). On the morning of December 14th, in Hanoi, President Luong Cuong attended and delivered a keynote speech at the national scientific conference: The Vietnam People's Army, glorious traditions, glorious achievements, and the core force in building a strong national defense system. The workshop was chaired by the Ministry of National Defense in coordination with the Central Propaganda Department, the Ministry of Public Security, and Cao Bang province. In an effort to implement the National Target Program on sustainable poverty reduction, Son Duong district (Tuyen Quang province) has effectively implemented support policies, especially focusing on vocational training and job creation for the people, bringing about remarkable progress in socio-economic development. Over the years, the An Giang Provincial Branch of the Social Policy Bank has focused on comprehensively directing all aspects of its operations, promptly disbursing funds to meet the capital needs for production and business of poor and near-poor households and other policy beneficiaries. This has helped thousands of people in the area access preferential loans to develop their household economies and strive to escape poverty sustainably. The Regional Intelligence Department (B2) includes the H63, H67, and H69 intelligence networks within the heroic 316th Special Forces Brigade. The brigade completed its mission after the Tet Offensive in 1968 in Saigon. However, the intelligence network continued to operate until the complete liberation of South Vietnam on April 30, 1975. On the afternoon of December 14, 2024, the Management Board of the Quan Ba ​​District Development Support Program (LPB7A), in coordination with the Quan Ba ​​District Youth Union and AFV-Actionaid, awarded prizes for initiatives on environmental protection, climate change adaptation, and youth entrepreneurship to projects that achieved outstanding results. In the second match of Group B of the AFF Cup 2024, the Lao team caused a major surprise by drawing with the Indonesian team after a breathtaking chase. A summary of news from the Ethnic and Development Newspaper. The morning news on December 14 included the following noteworthy information: Two more National Intangible Cultural Heritage sites in Binh Dinh. Integrating Traditional Medicine into tourism products. Young artisans dedicate their energy to preserving the Then heritage. Along with other current news from ethnic minority and mountainous regions, in Son Duong (Tuyen Quang province), the Party committee, government, departments, and localities have been focusing on poverty reduction using a multi-dimensional approach. Solutions to create jobs, increase the rate of trained labor, and create sustainable livelihoods are considered important driving forces. In recent years, thanks to the vigorous implementation of ethnic minority programs and policies, the socio-economic situation in the ethnic minority and mountainous areas of Thuan Chau district (Son La province) has seen significant development. Economic and social development indicators in ethnic minority areas within the district have significantly improved. On December 14th, Comrade Tran Thanh Man, Member of the Political Bureau and Chairman of the National Assembly, attended a meeting with voters in Hau Giang after the eighth session of the 15th National Assembly, both in person and online, from the Vi Thanh City Administrative Center Hall to six locations in districts, towns, and cities throughout the province. The National Target Program for Socio-Economic Development of Ethnic Minority and Mountainous Areas for the period 2021-2030; Phase I: from 2021 - 2025 (referred to as National Target Program 1719) has brought about many positive changes in the material and spiritual lives of ethnic minority workers in Soc Trang , most notably the implementation of Sub-project 3 under Project 5 of National Target Program 1719 on the Development of Vocational Education and Job Creation for Ethnic Minority and Mountainous Workers. However, the implementation of this Sub-project 3 still faces many difficulties and obstacles, requiring relevant agencies to find appropriate solutions to improve effectiveness and achieve the set objectives. To better understand this issue, a reporter from the Ethnic and Development Newspaper interviewed Ms. Luc Bich Phuc, Deputy Director of the Department of Labor, War Invalids and Social Affairs of Soc Trang province. On December 14th, the Criminal Police Department of Dak Lak province announced that it had issued a decision to prosecute and an arrest warrant for a group of three individuals who pretended to rent self-driving cars, then forged documents to use the vehicles as collateral, pawn, or sell them.

Mr. Le Thanh Duong (standing in the middle), Chairman of the Farmers' Association of My Duc commune, Chau Phu district ( An Giang province), inspects the effectiveness of loan utilization from the Vietnam Bank for Social Policies (VBSP).

Mr. Thai Xuan Hoang, residing in Khanh Hoa commune, Chau Phu district, previously faced significant economic difficulties. He lacked stable employment, and his family's income depended solely on a few rice paddies, often resulting in price drops during bumper harvests and vice versa. Consequently, his family's economic situation did not improve. Later, he received a loan of 38 million VND from the Social Policy Bank under its job creation support program.

With that capital, Mr. Hoang improved the land for his orchard, bought seedlings and fertilizers, combined with technical support for growing longan from the District Department of Agriculture and Rural Development, and learning from the experience of successful longan farmers, he planted 5,000 square meters of longan trees. Through applying techniques, learning from good and effective experiences, combined with his own diligence, hard work, and determination, by June 2023, Mr. Hoang's family's longan orchard achieved high productivity, yielding about 3,500 kg per year and bringing in over 122.5 million VND.

“With a loan that received interest subsidies from the government for the first three years, and interest payments for the remaining two years, thanks to that support, after deducting all expenses, I earned a profit of 97.5 million VND. As a result of the effective investment of capital from the Social Policy Bank's credit program, I now have a stable job, a consistent monthly income, contributing to the economic development of my family, a more spacious and comfortable home, and a significantly improved quality of life, both materially and spiritually, compared to before,” Mr. Hoang further shared.

People come to complete loan application procedures at commune-level transaction points in An Giang province.

According to Tran The Loan, Director of the An Giang Provincial Branch of the Vietnam Bank for Social Policies (VBSP), following the directives of the VBSP General Directorate, the specialized departments of the head office, the Provincial Party Committee, the Provincial People's Council, the Provincial People's Committee, and the Board of Directors of the VBSP Provincial Branch, the branch has closely coordinated with departments, agencies, and political and social organizations entrusted with the task to comprehensively direct all aspects of operations, aiming to effectively implement policy credit programs in the province. By November 30, 2024, the total capital reached VND 5,506.7 billion, an increase of VND 509.8 billion compared to 2023, representing a growth rate of 10.2%. The entrusted capital from the local budget was VND 350 billion, an increase of VND 50.6 billion, reaching 169% of the 2024 plan and accounting for 6.36% of the total capital.

The provincial branch of the Vietnam Bank for Social Policies (VBSP) promptly allocated credit plan targets to VBSP transaction offices in districts, towns, and cities for implementation. The loan growth plan prioritized several credit programs for lending to poor, near-poor, and newly-escaped-poverty households, households engaged in production and business in disadvantaged areas, and students from disadvantaged backgrounds; and support for job creation, maintenance, and expansion. The units proactively advised the VBSP Board of Directors at all levels on the allocation of plan targets and closely supervised the disbursement process, contributing to improved efficiency in the use of policy credit capital in the locality.

Social policy credit funds have made a positive contribution to poverty reduction, job creation, social security, and rural development, helping to prevent illegal lending in An Giang province.

As of November 30, 2024, total loan disbursements reached VND 1,560 billion, with 32,824 borrowers; compared to the same period in 2023, loan disbursements increased by VND 162.2 billion. Total debt collection reached VND 1,048.6 billion, an increase of VND 335.5 billion compared to the same period in 2023. The provincial branch of the Vietnam Bank for Social Policies is currently implementing 20 policy credit programs, with a total outstanding loan balance of VND 5,495.6 billion, an increase of VND 505.6 billion, achieving 98.07% of the central government's assigned plan, with 150,381 customers still having outstanding loans.

To date, social policy credit has helped 728,741 poor households and other eligible groups access loans, contributing to job creation for 85,088 local workers, covering educational expenses for 83,489 disadvantaged students, and assisting 4,290 workers in going to work abroad on temporary contracts. Simultaneously, loans have been disbursed to 258,825 households for the construction and repair of clean water and sanitation facilities in rural areas. This has made a positive contribution to poverty reduction, job creation, social security, and the development of new rural areas, helping to prevent illegal lending in the region.

Director of the An Giang Provincial Branch of the Vietnam Bank for Social Policies (VBSP), Tran The Loan, requested that the specialized departments of the branch and the transaction offices in districts, towns, and cities throughout the province focus on implementing the assigned credit growth plan for 2024. In particular, they should review the list of poor, near-poor, and newly-escaped-poverty households that meet the criteria and have a need for loans to ensure timely disbursement when additional targets are assigned; develop a plan to reduce the number of households and increase loan amounts for programs, ensuring effective and focused capital investment, and gradually increasing the average outstanding loan per household. They should also focus on advising local Party committees and authorities at all levels to supplement local budget funds for 2024 (for units that have not met the assigned targets) and 2025 to the VBSP for lending to the poor and policy beneficiaries.

Furthermore, we will continue to closely coordinate with Party committees, local authorities, and entrusted political and social organizations to implement comprehensive solutions to consolidate and improve credit quality. Simultaneously, we will improve the quality of debt recovery, urge the recovery of overdue debts, especially frozen debts; and strengthen and improve the operational quality of savings and loan groups. We will analyze the causes and strengthen savings and loan groups classified as average, weak, with high accumulated interest and overdue debt ratios, and increase outstanding loans for groups with low outstanding loans. We will also promote the dissemination of information and guidance to members of savings and loan groups on the effective use of borrowed capital…

25th Conference of the Executive Committee of the Party Committee of the Central Bank for Social Policies

Source: https://baodantoc.vn/an-giang-hieu-qua-tu-cac-chuong-trinh-tin-dung-chinh-sach-xa-hoi-1734101270099.htm