"Bridge" to bring policy capital to poor households

From the two initial credit programs for poor households and job creation, the Provincial Social Policy Bank Branch has now entrusted 22 policy credit programs. The network of entrusted work has covered 100% of villages and hamlets in the whole province. Up to now, the outstanding loan entrusted through associations and unions has reached over 11,241 billion VND, 1,108,650 poor households and other policy beneficiaries have received preferential loans.

At the Yen Binh Commune Transaction Point of the Yen Binh Social Policy Bank Transaction Office, the number of customers coming to transact is quite large. Thanks to the policy credit capital being brought to the village, Ms. Pham Thi Diu and many people in the commune do not have to travel far, borrowing capital becomes more convenient. The procedures are guided quickly by the Management Board of Savings and Loan Groups, officers of entrusted socio- political organizations and credit officers of the Social Policy Bank.

Staff of the Yen Binh Social Policy Bank Transaction Office disburse capital to policy beneficiaries in Huong Ly village, Yen Binh commune.

“The staff of Yen Binh Social Policy Bank not only bring timely policy capital to the people, but also accompany, advise and support us to use capital effectively and for the right purpose” - Ms. Pham Thi Diu shared.

The life of Mr. Pham Van Dung's family in Huong Ly village, Yen Binh commune has improved a lot thanks to access to policy credit capital for economic development. Previously, they only raised pigs on a small scale, combined with small-scale afforestation and nursery. In 2020, when they were able to borrow 140 million VND from the capital program for job creation, clean water and rural environmental sanitation, Mr. Dung boldly invested in expanding the nursery, developing afforestation combined with livestock farming.

Mr. Pham Van Dung said: "Thanks to the preferential loan capital, my family has been able to plant 2 hectares of cinnamon forest, each year nurturing over 900,000 seedlings (mainly cinnamon), deducting annual expenses, earning over 200 million VND. With the money, the family can build a house and send children to school."

Staff of the Yen Binh Social Policy Bank Transaction Office inspected the cinnamon nursery model of Mr. Pham Van Dung, Huong Ly village, Yen Binh commune.

Up to now, the policy credit capital managed by the Yen Binh Social Policy Bank Transaction Office has covered 100% of communes, implementing many preferential loan programs such as: poor households, near-poor households, newly escaped poverty households; production and business households in difficult areas; loans for clean water and rural environmental sanitation... The whole area currently has 305 savings and loan groups, with more than 12,000 customers, total outstanding debt reaching 795 billion VND.

Mr. Dinh Trong Hoai - Director of Yen Binh Social Policy Bank Transaction Office affirmed: Preferential credit capital from the Social Policy Bank plays a key role in implementing the National Target Programs on sustainable poverty reduction, new rural construction and socio-economic development, especially in ethnic minority areas.

Thanks to the promotion of preferential loans, up to now, Mr. Pham Van Dung's family in Huong Ly village, Yen Binh commune has been able to plant 2 hectares of cinnamon forest, each year nurturing over 900,000 seedlings (mainly cinnamon), and after deducting expenses, annually earning over 200 million VND.

Like Yen Binh Social Policy Bank Transaction Office, with the motto "Understanding people's hearts, serving wholeheartedly", in recent years, Bao Thang Social Policy Bank Transaction Office has implemented many programs to help many poor households, near-poor households and policy beneficiaries access preferential loans.

Mr. Tran Van Quyen in Nho Trong village, Xuan Quang commune, excitedly shared: At the end of 2022, my family was able to borrow 100 million VND from the job creation fund of Bao Thang Social Policy Bank. From this capital, the family boldly repaired and expanded the barn and bought 6,000 more breeding chickens to raise for economic development. Thanks to good disinfection and compliance with breeding techniques, the flock has now reached 10,000 chickens per batch, after deducting expenses, bringing in an income of about 300 - 400 million VND per year.

Currently, we are managing and covering 100% of the villages of the communes with many preferential credit programs such as loans for poor households, near-poor households, newly escaped poverty households, production and business households in difficult areas, clean water and rural environmental sanitation, job creation... with 302 savings and loan groups and 10,000 borrowers with a total outstanding debt of 787 billion VND.

Mr. Nguyen Tri Dung - Director of Transaction Office of Bao Thang Social Policy Bank

Thanks to the effective use of preferential loans, up to now, Mr. Tran Van Quyen's family in Nho Trong village, Xuan Quang commune has built a chicken farm with a scale of 10,000 chickens/batch, deducting expenses each year, the income is about 300 - 400 million VND.

After more than 22 years of implementing Decree No. 78/2002/ND-CP of the Government on preferential credit for the poor and policy beneficiaries in the area, Lao Cai province has achieved many outstanding results: The average annual credit growth rate has increased; debt collection and lending work has been timely, credit quality has been constantly improved, bringing economic efficiency, creating jobs, improving life, and increasing income for people.

From the initial two credit programs for lending to poor households and job creation, the Provincial Social Policy Bank Branch has now entrusted 22 policy credit programs. The network of entrusted work has covered 100% of villages and hamlets in the whole province. Up to now, the outstanding loan entrusted through associations and unions has reached over 11,241 billion VND, 1,108,650 poor households and other policy beneficiaries have received preferential loans.

Through policy loans, people have invested in caring for, renovating, and planting 577,375 hectares of acacia, cinnamon, and linden forests; 31,382 hectares of tea, 11,037 hectares of fruit trees; bought 416,480 buffaloes and cows; built and renovated 185,510 clean water facilities, 185,500 sanitation facilities; 81,984 students have received loans to cover their study expenses, supported 22,912 poor households to build houses, and created 67,385 new jobs for workers.

It can be affirmed that preferential credit capital has become an important support, helping poor households and policy households improve their income, stabilize their lives and gradually escape poverty. At the same time, it contributes to promoting economic growth, stabilizing prices, controlling inflation, thereby helping the poverty rate of the whole province to decrease by an average of 4% per year.

With 1,108,650 poor households and other policy beneficiaries receiving preferential loans over the years, it has proven that Decree No. 78 of the Government on preferential credit for the poor and policy beneficiaries has really come into life, contributing to the implementation of the national goal of sustainable poverty reduction, job creation and the implementation of the province's socio-economic development goals in the direction of "green, harmony, identity, happiness".

Source: https://baolaocai.vn/cau-noi-dua-von-chinh-sach-den-voi-ho-ngheo-post882602.html