Da Nang - Policy credit is like a refreshing stream.

Spring arrives like a vibrant symphony, bringing new life and the lofty dreams of the coastal city of Da Nang. Amidst this spring-filled atmosphere, the story of social policy credit flows like a refreshing stream, nourishing the seeds of hope. It's not just a story about numbers, but also a journey of compassion and the collective efforts of the entire political system to bring a better life to the people.

Local economic leverage

According to Mr. Doan Ngoc Chung, Director of the Social Policy Bank of Da Nang City , in the context of climate change, rapid urbanization, and the consequences of the Covid-19 pandemic causing many socio-economic fluctuations, social policy credit has become an important support for many disadvantaged households in Da Nang. Preferential capital helps to promptly meet the needs for production, business development, education, and investment in social housing. The impact of these programs has helped Da Nang successfully implement the "5 no's," "3 yes's," and "4 safe" programs, especially the goal of sustainable poverty reduction.

Thanks to financial support from the Vietnam Bank for Social Policies (VBSP), many poor, near-poor, and policy-beneficiary households have overcome difficulties, risen out of poverty sustainably, increased their income, and improved their quality of life.

During the period 2014-2024, the Vietnam Bank for Social Policies (VBSP) disbursed VND 11,090.55 billion and collected VND 7,178.04 billion in debt; VBSP's social policy credit activities helped 247,164 poor households and other policy beneficiaries access loans.

Thanks to social policy credit funds, the poverty reduction plan for the 2016-2020 period was completed two years ahead of schedule, with 20,293 households escaping poverty (including 6,514 poor households according to the central government's standards); creating, maintaining, and expanding jobs for 140,400 workers; 10,946 students received loans to cover their study expenses; and loans were provided for the construction, upgrading, and renovation of 49,795 new clean water and sanitation facilities.

Through continuous efforts, the Social Policy Bank of Da Nang City has contributed to the successful achievement of sustainable poverty reduction and enhanced social security.

Effectively implement Directive 40-CT/TW

The dissemination, understanding, and implementation of Directive No. 40-CT/TW and Conclusion No. 06-KL/TW of the Party Central Committee have been carried out extensively and seriously by Party committees, agencies, units, and localities at all levels. This forms the foundation for social policy credit to become an effective tool in poverty reduction and socio-economic development.

Specifically, authorities at all levels have identified leading and directing social policy credit as a regular task in their operational programs. The city has issued numerous leadership documents, proactively allocated entrusted budgets through the Social Policy Bank, and linked the mobilization and use of capital with agricultural and rural development, vocational education, job creation, and social security. This has helped Da Nang meet the needs of its people and create significant progress in achieving sustainable poverty reduction goals.

Thanks to the coordination of the Vietnam Fatherland Front and entrusted political and social organizations, propaganda work on social credit has been strengthened. These organizations actively guide, inspect, and supervise the effective use of loan capital, replicate exemplary production and business models, helping people escape poverty and gradually become wealthy.

In particular, after 10 years of implementing Directive No. 40, social policy credit has helped Da Nang achieve outstanding results: 247,164 poor households and policy beneficiaries have received loans; more than 20,000 households have escaped poverty, nearly 140,400 workers have found employment; and thousands of clean water and sanitation projects have been built. Social policy credit programs have contributed to poverty reduction, curbing illegal lending, and creating motivation for people to improve their lives.

Improve credit quality

To ensure the efficient use of funds, the branch implements various measures such as: strengthening inspections before, during, and after lending; and closely coordinating with associations, organizations, and local authorities. Thanks to the active participation of the Savings and Credit Group, professional training and workshops are conducted regularly.

Mr. Chung emphasized: "The human factor is the decisive element in credit quality." Accordingly, the branch focuses on training, especially improving the professional competence and ethical conduct of its staff.

Through continuous efforts, the Social Policy Bank of Da Nang City has contributed to the successful achievement of sustainable poverty reduction and enhanced social security. In the future, these programs will continue to be promoted, helping to narrow the gap between rich and poor and bring a better life to the people.

Source: https://thoibaonganhang.vn/da-nang-tin-dung-chinh-sach-nhu-dong-suoi-mat-lanh-160114.html