Joining hands to support the poor, policy
The total outstanding policy credit in Quang Nam province as of June 30th reached over 7,842 billion VND. Of this, the outstanding credit entrusted through the Provincial Women's Union amounted to over 3,159 billion VND (accounting for 40.4%).
Ms. Dang Thi Le Thuy, President of the Vietnam Women's Union, said that the Women's Union at all levels closely coordinates with the Social Policy Bank (SPB) branch in Quang Nam and local authorities to effectively disseminate information so that people are aware of preferential loan programs to access and invest in economic activities.
To ensure that preferential loans are used effectively, women's unions at all levels focus on guiding borrowers through vocational training, job creation, and connecting them with product markets.
The Provincial Women's Union has supported women's participation in economic development models, integrating them with national target programs, projects, and schemes, especially the "Supporting Women's Entrepreneurship Program giai đoạn 2017 - 2025," with thousands of startup ideas accessing preferential capital for development and expansion.
The Provincial Women's Union regularly strengthens, consolidates, and improves the quality of operation of savings and loan groups by doing a good job of evaluating loan recipients, urging borrowers to repay principal and interest, and deposit savings.
In particular, decisive action has been taken against households that deliberately delay debt repayment, and those who have left the locality… As a result, credit quality has been maintained stably, and currently the overdue debt ratio accounts for only 0.04% of outstanding loans.
To date, the outstanding debt of 19 policy credit programs entrusted to the Provincial Farmers' Association has reached over 2,487 billion VND (accounting for 31.8%). Notably, the annual interest collection rate is 100%; more than 99% of borrowers participate in savings deposits; and credit quality remains stable.
The Veterans Association received entrusted policy credit of over 1.034 billion VND (accounting for 13.9%), managing 485 Savings and Credit Groups in 195 communes, wards, and towns; the average outstanding loan is 2.167 billion VND/group; and the average loan is 55 million VND/household.
Monthly interest collection reached 100%; members complied with the operating regulations, used loan capital for the intended purpose, and repaid principal and interest on time. The Provincial Youth Union received entrusted policy capital of over 1.038 billion VND (accounting for 13.9%). The entrusted loan activities have helped youth union members develop their economy increasingly effectively.
It is necessary to strengthen propaganda and counseling.
Despite many achievements, the operation of preferential loan disbursement in Quang Nam still faces some challenges. Mr. Nguyen Tan Thanh, Chairman of the Provincial Veterans Association, said that in some areas, the dissemination of information has not been timely, and some poor households have not fully fulfilled their obligations after receiving loans.
In some areas, the heads of the Savings and Credit Groups have not met the requirements; overdue debts are high. The inspection and supervision of the activities of the Savings and Credit Groups and borrowers are still superficial and of poor quality...
“We need to promote preferential credit to the people more effectively; at the same time, we need to strengthen and improve the quality of operations of the Savings and Credit Groups. We need to strengthen inspection, supervision, and recovery of overdue debts, outstanding interest, and misappropriated debts, preventing the accumulation of new overdue debts and outstanding interest. The Provincial Social Policy Bank needs to organize training and professional development courses to improve the skills of staff assigned to manage entrusted capital,” Mr. Thanh said.
According to the Provincial Youth Union Secretary Pham Thi Thanh, in addition to the achievements, the entrusted policy credit activities still have certain limitations. Some localities and units have not done a good job of guiding union members and young people in building economic models; they have provided loan support but have not evaluated the effectiveness after lending...
Some commune-level youth union units have not paid sufficient attention to inspecting and supervising Savings and Credit Groups, especially checking the use of loan capital by group members, and have lacked efforts to collect debts and deposit savings.
The assessment of loan needs in some districts, towns, and cities has not been entirely accurate, leading to limited access to preferential loans for young people. The Provincial Youth Union will coordinate with relevant agencies to remove this "bottleneck" so that policy-based credit can continue to play its role in driving socio-economic development.
Enhancing the accountability of socio- political organizations.
Comrade Luong Nguyen Minh Triet - Alternate Member of the Central Committee of the Party, Secretary of the Provincial Party Committee - stated that political and social organizations entrusted with preferential loan capital from the Social Policy Bank branch in Quang Nam need to be responsible for fully implementing the entrusted contents; and closely coordinate with functional agencies to consolidate and improve the quality of policy credit activities.
Farmers' associations, women's associations, veterans' associations, and youth unions need to be fair, transparent, and democratic in guiding the selection of loan recipients; strengthen inspection, supervision, and debt collection; guide borrowers in using capital effectively; and integrate with programs and projects of socio-political organizations. They need to do a good job of advising and guiding the development and replication of exemplary production and business models, helping each other to rise out of poverty sustainably and become wealthy.
Source: https://baoquangnam.vn/cach-quang-nam-dan-von-uu-dai-den-ho-ngheo-chinh-sach-3138363.html
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