The “key” to poverty reduction in Thai Nguyen

Sustainable poverty reduction is a key task of the entire political system and all levels and sectors. Together with the whole country, Thai Nguyen province is synchronously implementing many solutions, in which priority is given to investing resources to contribute to promoting socio-economic development and ensuring social security.

People transact at the transaction point of Thai Nguyen Social Policy Bank.

Among the resources, policy credit capital plays a "key" role in opening up opportunities for people, especially ethnic minorities, to overcome difficulties, improve their quality of life, and escape poverty.

Focusing capital on each poor household

After many years of separation, now re-merging Thai Nguyen - Bac Kan into Thai Nguyen province, local authorities at all levels have always focused on policy credit work, especially focused on mobilizing financial resources, prioritizing preferential capital investment from the State to help disadvantaged areas and poor households have production conditions, improve economic autonomy, create jobs, increase income, and improve life.

Vice Chairwoman of the People's Committee of Thai Nguyen province and Head of the Board of Directors of the Bank for Social Policies Nguyen Thi Loan affirmed: Policy credit is not only a financial tool but also an important part of the local socio-economic development plan, considered the key "key" in sustainable poverty reduction and new rural construction.

To improve the effectiveness of policy credit, Thai Nguyen has been implementing many solutions, first of all, making efforts to raise awareness and thoroughly disseminate the Central's directive documents to Party committees at all levels, authorities and people of all walks of life about the meaningful role of policy credit in the sustainable poverty reduction program and new rural construction.

The province also regularly and promptly arranges local budget capital entrusted through the Social Policy Bank to supplement loan capital for poor households and ethnic minority families in the area. The result of local entrusted capital as of September 30 reached more than 493 billion VND; an increase of more than 132 billion VND compared to the end of 2024. By 2030, Thai Nguyen strives to increase the proportion of budget capital entrusted through the Social Policy Bank, ensuring the completion of the plan assigned by the Central Government.

Director of Thai Nguyen Province Social Policy Bank Pham Tuan Hung (standing in the middle) talks with borrowers.

Party Secretary and Director of Thai Nguyen Province Social Policy Bank Pham Tuan Hung shared that the common feature and also the basic advantage that helps both branches of Thai Nguyen and Bac Kan Social Policy Bank (old) under Thai Nguyen Province Social Policy Bank (new) operate effectively is that they have always received close attention and direction from the superior bank and local leaders, creating favorable conditions.

Thanks to that, Thai Nguyen Provincial Social Policy Bank, right from its establishment (2002) until now, after 4 months of consolidation, has implemented synchronously appropriate solutions, notably focusing on mobilizing large capital sources, organizing timely and safe transfer of preferential capital from the State to villages, neighborhoods, to each poor household and disadvantaged ethnic minority families.

This unique approach of a non-profit business bank has brought about economic efficiency and has a clear and great socio-political significance. From three programs and a small initial capital to date, Thai Nguyen Provincial Social Policy Bank has implemented 19 credit programs with a total operating capital of more than VND 9,111 billion, an increase of VND 505 billion compared to the end of 2024, with 34,521 poor households and policy beneficiaries receiving timely loans to invest in production and business.

The "key" to help people escape poverty

Currently, the network of 3,880 Savings and Loan Groups is becoming a "bridge" to help credit officers of Thai Nguyen Social Policy Bank implement "3 together": closely following the grassroots, discussing with the government and organizations, guiding poor households and policy beneficiaries to borrow and use loans for the right purposes and effectively. Thanks to that, the flow of policy credit capital is always guaranteed to operate smoothly.

From the remote mountainous areas of Pac Nam, ATK Dinh Hoa to the midlands of Dong Hy, Pho Yen, etc., poor households and policy beneficiaries who have the need and meet the conditions can borrow preferential loans. Preferential credit capital has covered the entire area, helping Thai Nguyen people develop the economy, escape poverty, and improve their lives.

Transaction points of Thai Nguyen Province Social Policy Bank still operate regularly and smoothly after the merger.

For example, Dan Tien commune was established on the basis of merging three administrative units: Dan Tien, Binh Long, and Phuong Giao. This place used to be a particularly difficult locality, but now it has gradually risen and completed the criteria of the sustainable poverty reduction program and new rural construction thanks to the support of policy credit.

Chairwoman of the People's Committee of Dan Tien Mong Commune, Thi Tuyet Nhung, said: Based on reality, every year the commune leaders develop a thematic resolution on poverty reduction. Accordingly, the solutions that are focused on implementation are to encourage agricultural production in the direction of goods, build and replicate highly effective economic development models, and pay attention to directing organizations to actively receive preferential capital from the Social Policy Bank...

The family of Mr. Le Van Tam, in Tan Tien hamlet, is one of the households that benefited from the policy capital. With a loan of 100 million VND from the Vo Nhai Social Policy Bank along with savings, Mr. Tam's family invested in a peeled wood processing facility, creating seasonal jobs for 5-7 local workers and increasing income. In addition to Mr. Tam's family, in Tan Tien hamlet, there are also many households that have used preferential capital to open wood processing facilities, invest in growing hybrid corn, and combine livestock farming for a good income. On average, each year in Tan Tien hamlet, 3 to 5 households escape poverty from preferential capital.

Similarly, in Vinh Thong commune, Mr. Dinh Quang Kieu living in Nam Son village, after being introduced by the commune about the job creation loan program, boldly borrowed 50 million VND from the Social Policy Bank to implement a white horse breeding model. From the loan capital plus the family's available capital, Mr. Kieu bought three breeding horses and invested in building solid barns. After 5 years of perseverance, Mr. Kieu now has a herd of 7 horses, including 4 pregnant mother horses. According to Mr. Kieu, the income from raising white horses brings in an average of 60 million VND/year, helping his family have a stable livelihood. Mr. Kieu's model is typical of the effective use of credit capital to invest in new economic models and methods in highland villages and hamlets.

The effectiveness of policy credit has been clearly demonstrated through the number of households that have borrowed capital to become prosperous, through the constantly changing appearance of the homeland, and through the poverty rate decreasing by an average of 1.41% each year, exceeding the target set by the resolution.

Promoting the achievements, in his upcoming journey, Director of Thai Nguyen Provincial Social Policy Bank Pham Tuan Hung said: Thai Nguyen Provincial Social Policy Bank, with its perseverance, dedication, and companionship with the poor and policy beneficiaries, will continue to effectively implement Directive No. 39/CT-TW dated October 30, 2024 of the Secretariat on improving the effectiveness of social policy credit in the new period, focusing on mobilizing all resources, maintaining smooth and timely policy credit flows, becoming a "pillar" to support people in production and business, contributing to sustainable poverty reduction, gradually getting rich, and ensuring social security in the mountainous and midland areas of Thai Nguyen.

Article and photos: DONG DU

Source: https://nhandan.vn/chia-khoa-cho-cong-cuoc-giam-ngheo-o-thai-nguyen-post918975.html