Imprint of policy loans in Con Cuong district

The effective use of policy capital in Con Cuong district has contributed to the successful implementation of the National Target Program on Sustainable Poverty Reduction in the area. Con Cuong Transaction Office is a typical national collective to be honored by the Social Policy Bank in May.

Preferential capital helps people escape poverty

Following the staff of the Social Policy Bank of Con Cuong district, we visited the family of Mr. Lo Van Mon in Lam Khe village, Chi Khe commune. The spacious house of the couple is located in a 5-hectare green acacia garden, with a production workshop.

Mr. Mon excitedly said that after returning home from working far away to avoid the Covid-19 epidemic, thanks to the Social Policy Bank's support of 50 million VND, he was able to continue his shoemaking career and invest more in livestock farming and afforestation.

Social Policy Bank staff visited the shoemaking model of Mr. Lo Van Mon's family in Lam Khe village, Chi Khe commune (Con Cuong). Photo: Thu Huyen

In addition to planting forests and raising cows, Mr. Mon's shoe factory is creating jobs for 7-10 local workers. Although the revenue is not high yet, now he and his wife are confident in producing in their hometown. Currently, there are many shoe orders, Mr. Mon hopes to borrow more preferential loans to invest in expanding production; buy more cows to raise...

Currently, in Con Cuong district, there are many effective production and business models bearing the mark of the Social Policy Bank. For example, Mr. Lu Van Hung's household in Dong Tien village, Lang Khe commune borrowed 50 million VND from the poor household loan, now he has 8 buffaloes, 4 cows and has escaped poverty; Quang Van Son's household in Cai village, Cam Lam commune is borrowing 100 million VND from the near-poor household loan from 2022, now escaped poverty (formerly a poor household). Currently, he has 8 buffaloes and has repaired a solid house, has a son studying at the Military Technical Academy, ...

Social Policy Bank staff visit Mr. Lo Van Mon's farm in Chi Khe commune, Con Cuong district. Photo: Thu Huyen

Many savings and loan groups also incorporate cultural and artistic activities into their meetings to improve the quality of group activities and diversify lending activities. Bung Xat village, Chau Khe commune is a buffer zone of Pu Mat National Park, where for generations people have lived mainly on the mountains and forests. Now, the staff of the Social Policy Bank in coordination with the locality has brought in state capital to help people develop livestock farming, weaving, etc. to stabilize their lives.

Ms. Lo Thi Linh - Head of the Savings and Loan Group of Bung Xat village said: The Savings and Loan Group of the village has 45 members, the current outstanding debt is more than 3.4 billion VND. Thanks to attracting members to participate regularly, the collection of interest, mobilization of savings is convenient and there is no bad debt. There are many cases where borrowers pay off their debts early, have surplus, and return to save.

Women in Bung Xat village, Chau Khe commune (Con Cuong) weave brocade. Photo: Thu Huyen

Ms. Linh also added that after the launching ceremony of the sustainable savings and loan group model, associated with community activities in June 2024, the group members regularly participated in monthly activities. At the meetings, the group members exchanged experiences in borrowing capital, investing in production, and raising funds to support each other in life.

Building a bridge to bring capital to the people

Con Cuong is a mountainous district of Nghe An province, with a 62 km long border with Laos, one of the 10 largest districts in the country. The transportation system is still difficult, ethnic minorities account for 75.23%, mainly Thai people. Thanks to the determination and consensus of officials and people, in recent years, the sustainable poverty reduction work of this locality has achieved many positive results; in 2020 it was nearly 23%, now it has decreased to 13.8%.

In the period of 2021-2025, the Bank for Social Policies will implement many specific credit programs, especially lending programs under Resolution No. 11/NQ-CP, lending for socio-economic development in ethnic minority and mountainous areas, lending for social housing, lending for people who have completed their prison sentences, etc.

Commune association organization inspects loan usage within 30 days after disbursement in Luc Da commune, Con Cuong district. Photo: TH

The unit has had creative approaches, suitable for the locality, thereby successfully implementing credit programs with high quality and efficiency. Thanks to that, outstanding loans have continuously grown, reaching an annual average of nearly 20%. To date, outstanding loans have reached over 708 billion VND, an increase of 344 billion VND compared to 2020, with 3,494 households accessing preferential capital from social policy credit. Continuously for 6 years, from 2019 to present, the transaction office has always maintained no overdue debt.

Social policy credit capital has made an important contribution to the implementation of national goals on sustainable poverty reduction, new rural construction and economic development of ethnic minority and mountainous areas in Con Cuong district. Thereby, the appearance of the district has many positive changes, in which, 3 communes have reached the new rural finish line.

With the viewpoint "If the group is good, the association is good, if the association is good, the commune is good, if the commune is good, the district is definitely good", from 2020 to now, the Transaction Office of the Bank for Social Policies in Con Cuong district has always actively directed and reviewed each savings and loan group according to the population size of each village and hamlet. Con Cuong district is the first unit selected by the Bank for Social Policies, Nghe An branch, to pilot the construction of a model of savings and loan groups in a sustainable direction associated with community activities.

Disbursement of capital at the transaction point of Chau Khe commune, Con Cuong district. Photo: Thu Huyen

Mr. Nguyen Viet Nam - Director of the Transaction Office of the Social Policy Bank of Con Cuong district said: "Up to now, we have had 72 savings and loan groups operating in association with community activities; 100% of savings and loan groups perform monthly transactions through the VBSP Smart Banking App proficiently, achieving 100% of groups being classified as good for many consecutive years".

Thanks to those who built bridges to bring capital to the people, over the past many years, preferential capital has reached the right people, ensuring the right objects and purposes, contributing significantly to the successful implementation of the National Target Program on Sustainable Poverty Reduction in Con Cuong district with authorities at all levels.
Mr. Tran Khac Hung - Director of Nghe An Province Social Policy Bank assessed: Con Cuong District Social Policy Bank is a methodical unit with good credit quality. Through credit programs in the area, it has changed the economic and social life of the people, positively changed the way of thinking and working of the people...

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With the achieved results, the Con Cuong District Social Policy Bank has been recognized and highly appreciated by superiors and has been honored with many emulation titles and many forms of rewards such as: 5 consecutive years of being recognized as "Collective completing excellent tasks", the Prime Minister awarded a Certificate of Merit; the Governor awarded a Certificate of Merit twice, the Chairman of the People's Committee of Nghe An province awarded a Certificate of Merit twice. Many individuals were awarded Certificates of Merit by the Governor and Chairman of the People's Committee of Nghe An province, the title of Emulation Fighter at the grassroots level; 1 Emulation Fighter of the Banking sector; 2 individuals were awarded typical advanced awards at the provincial level.

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Source: https://baonghean.vn/dau-an-von-vay-chinh-sach-o-huyen-con-cuong-10295980.html