Diversifying sources of funding for farmers

Over the past period, the Farmers' Association (FA) at all levels in Phu Tho town has created conditions to help farmer members access and effectively utilize capital sources to develop the economy , increase income, and contribute to promoting the movement of farmers competing in excellent production and business.

Leaders of the Phu Tho Town Farmers' Association visited the seedling model of Mr. Nguyen Van Dong's family in Zone 1, Ha Loc Commune.

Visiting the integrated VAC economic development model of Mr. Nguyen Van Dong's family in Zone 1, Ha Loc commune, we learned that previously, Mr. Dong, like many other farmer association members, developed his family's economy on a small scale, with low efficiency.

In 2012, Mr. Dong began developing a model for planting seedlings, including forestry trees such as acacia, eucalyptus, teak, mahogany, camphor, and fruit trees such as star apple, custard apple, palm, and jackfruit, which yielded positive economic results. By 2022, Mr. Dong joined a livestock cooperative and received a loan of 50 million VND from the farmer support fund.

Mr. Dong shared: “After receiving the loan, I invested in livestock pens and expanded the model. To date, I raise over 100 wild boars, 20 goats, 40 dogs, 500 free-range chickens and ducks, and various types of fish in the pond... bringing in an income of over 700 million VND per year.”

Mr. Han Minh Chinh, residing in Zone 3, Thanh Minh Commune, chose to develop his economy by opening a mechanical workshop, which has initially yielded positive economic results. In 2022, he received a loan of 400 million VND from the employment creation fund of the Social Policy Bank.

He expanded his workshop to ^700m² , specializing in the production of aluminum and glass products, industrial wood furniture, and mechanical parts, generating an income of over 800 million VND per year and providing stable employment for 8 workers with an average income of over 10 million VND per person per month.

Over the years, the Phu Tho Town Farmers' Association has diversified its sources of funding to support its members, including: the Farmers' Support Fund, entrusted capital from the Social Policy Bank, and job creation funds... creating credit capital with the goal of prioritizing loans for building and replicating economic development models that leverage the potential and advantages of the locality, applying scientific and technological advancements and high technology to production, establishing production linkages along the value chain, ensuring food safety and hygiene, and aiming to achieve the local OCOP standard...

Currently, the Farmers' Association of the town manages nearly 2.6 billion VND in the Farmers' Support Fund, providing loans to farmers for raising breeding cows and sows, growing safe vegetables, producing vermicelli and cakes, and cultivating fruit trees, etc.; it also receives entrusted loans from the Social Policy Bank and manages 47 savings and loan groups with a total value of over 52 billion VND for 1,704 farmer households. These funds are managed strictly, used for their intended purpose, and bring practical economic benefits to farmer members.

With access to loan capital, farmer members in Phu Tho town have enthusiastically competed in labor and production, reforming their mindset and methods to become wealthy; actively shifting the structure of crops and livestock, and cropping patterns; exploiting the potential and strengths of land and labor in each locality, and boldly applying new technical and technological advancements to production. Many models have large-scale production, attracting hundreds of workers and generating incomes ranging from several hundred million to billions of dong per year.

Mr. Le Van San, Chairman of the Phu Tho Town Farmers' Association, said: "In the coming time, the Phu Tho Town Farmers' Association will continue to maintain and improve the effectiveness of its operations, sign cooperation agreements and entrust loan disbursement with banks, creating conditions for farmers to access loan sources for investment in production and business development. At the same time, we will proactively and actively advise the government to allocate additional budget for the Farmers' Support Fund; promote propaganda and mobilization of non-budgetary sources; coordinate guidance, inspection, and supervision to ensure that loan funds are used for the right purposes and effectively..."

Linh Nguyen

Source: https://baophutho.vn/da-dang-nguon-von-cho-nong-dan-217828.htm