Bac Ai effectively promotes capital loans from policy credit programs

Over 20 years of implementing preferential credit policies (TDCS) for the poor and other policy beneficiaries according to Decree No. 78/2002/ND-CP of the Government in the mountainous district of Bac Ai, it has helped the poor and policy beneficiaries have jobs, gradually stabilize their lives, and contribute to narrowing the gap between rich and poor in localities.

Ma Hoa village, formerly the core poor area of Phuoc Dai commune, but now the appearance of the village has changed a lot, with more and more new and spacious houses. This appearance is thanks in no small part to the loan capital from the Social Policy Bank (SPB). Katơr Thị Nanh's family is one of the first households in the village to boldly borrow capital from the SBP to develop the economy. Initially, she borrowed 20 million VND to raise cows. After more than 7 years of raising cows, her family has paid off the bank debt, repaired the house and bought household items. At the same time, they have also developed a herd of 9 cows. Ms. Nanh happily said: Previously, her family was a poor household in the village, with very difficult economic conditions. Thanks to the loan capital from the SBP, the family's economy has grown more and more. Like Ms. Nanh's family, Ms. Kadá Thị Dém's family in Nui Ray village, Phuoc Chinh commune, had a very difficult economic situation. The economy only relied on 5 sao of upland land, producing only one crop in the rainy season, so the income was unstable. In 2017, Ms. Dem was given a loan of 20 million VND from the VBSP by the Women's Union to buy cows for breeding. Thanks to her hard work, after nearly 4 years, she paid off all her debt to the bank and developed 4 breeding cows to develop the family economy.

Thanks to loans from the Social Policy Bank, many households in Bac Ai district have the conditions

family economic development

The cases of borrowing capital from the Social Policy Bank to develop the family economy like Ms. Nanh and Ms. Dem in the mountainous district of Bac Ai are increasing. The story of borrowing money to "hang it in the kitchen" in ethnic minority areas no longer exists, people now know how to change their thinking and working methods. People with little experience borrow capital to buy 1 to 2 cows, people with a lot of experience buy 3 to 5 cows to develop livestock farming. Saving groups with preferential loans from the Social Policy Bank have therefore recruited more members, and the outstanding loans of the following year are higher than the previous year. After more than 20 years of implementing preferential credit under Decree No. 78/2002/ND-CP in Bac Ai district, more than 2,000 poor households have escaped poverty sustainably. Credit sources have been invested in 100% of communes, creating favorable and timely conditions for the poor and policy beneficiaries to access preferential capital from the Government. The total outstanding debt through 17 TDCS programs reached over 221 billion VND, the number of households receiving preferential treatment was over 5,350 households with 6,461 loans, accounting for over 67.7% of households in the area. Thereby, contributing to the effective implementation of poverty reduction, job creation and new rural construction in the district, helping the poverty rate to decrease by an average of 5.9% annually. Poor households now no longer rely on state support but proactively borrow capital to develop production and livestock to escape poverty sustainably.

Mr. Tran Huu Quan, Deputy Director of the Transaction Office of the Social Policy Bank of Bac Ai district, said: Credit programs supporting loans from the Social Policy Bank according to Decree No. 78/2002/ND-CP on credit for the poor and other social policy beneficiaries through Associations and organizations in Bac Ai district have contributed to promoting local socio-economic development, creating high productivity and efficiency, especially in shifting the structure of crops and livestock from low-efficiency crops and livestock to growing crops and raising livestock with higher economic efficiency. In the coming time, the unit will continue to advise the District Party Committee, the District People's Committee, and the Board of Directors to effectively implement Directive No. 40-CT/TW of the Secretariat on strengthening the Party's leadership over social credit, creating motivation for people to develop their family economy, fully and promptly providing capital for poor households, near-poor households and policy beneficiaries to have conditions to develop production and livestock, contributing to reducing the poverty rate of the locality; diversifying forms of propaganda to help people and all levels and sectors fully grasp the Party's and State's policies and guidelines on the lending program of the Vietnam Bank for Social Policies; urging the collection of due debts and overdue debts. Striving for an average annual outstanding debt growth of 7-10%, interest collection rate of over 99%, capital utilization efficiency of 98%, bad debt ratio of under 0.5%; Ensure the quality of operations of savings and loan groups to promptly, effectively and qualitatively transfer TDCS capital to beneficiaries... At the same time, mobilize people to effectively use loans from the VBSP to develop the economy, stabilize their lives, and escape poverty sustainably. Thereby, contributing to the effective implementation of social security work, poverty reduction programs, ensuring the effective implementation of economic development goals in the locality.

Kha Han

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