Highlights in the implementation of social policy credit

Recognizing that strengthening leadership and guidance over policy credit activities is one of the key tasks of the locality aimed at poverty reduction, job creation, ensuring social security, and sustainable socio-economic development, the Party Committee of Huong Non commune, Tam Nong district, has issued a specialized resolution, assigning the government, the Fatherland Front , and various departments, organizations, and Party branches to organize study sessions, disseminate information, and mobilize cadres, Party members, and people to implement it.

Policy credit funds have helped families in Huong Non transform their crop and livestock structures, thereby increasing their income.

The coordination between the Party Committee, the government, and entrusted political and social organizations with the District Social Policy Bank is ensured to be close and effective; the management of social policy credit funds is regularly inspected and supervised. This allows for timely monitoring of capital management and utilization, prompt and decisive handling of proposals and recommendations, and ensures that the funds reach the intended beneficiaries as stipulated. To date, the commune is implementing 8 credit programs for lending to poor households and other policy beneficiaries, with a total outstanding loan balance of over 26.5 billion VND for 614 households belonging to 16 savings and loan groups.

According to the assessment of the leaders of the District Social Policy Bank, the Women's Union, the Veterans' Association, the Farmers' Association, etc., and the Credit and Loan Groups have been proactive in handling overdue debts and have done a good job of inspecting before, during, and after lending. Borrowers have used the capital to invest in production and business effectively, increasing income, creating jobs, alleviating poverty, and providing additional capital for commodity production. Households have become familiar with credit services, proactively borrowing and repaying capital according to agreements. In recent years, there have been no cases of borrowing by individuals or groups, or misappropriation of funds in the commune.

The campaign to encourage and promote loan recipients to participate in regular savings deposits through the Savings and Credit Groups has been effective. The current savings deposit balance is 829 million VND, and 100% of the Savings and Credit Groups in the commune are rated as good. Mobilizing savings deposits through these groups has instilled in the poor a sense of saving to create capital. Since implementing this savings deposit mobilization program, many loan recipients have proactively deposited money to transfer funds for principal and interest payments, thereby alleviating difficulties when repayment deadlines arrive.

Notably, policy credit funds have been closely linked to local economic development plans, poverty reduction plans, and the implementation of the New Rural Development Program. This has created a ripple effect, attracting households to borrow capital to participate in restructuring crop and livestock production, gradually familiarizing themselves with commodity production, improving their lives, reducing risks, and helping poor households improve their income and rise to legitimate wealth. Over the past 10 years (2014-2024), policy credit funds have helped over 1,300 poor, near-poor, newly-escaped-poverty households and policy beneficiaries in Huong Non commune to borrow capital for production development and stabilize their lives; and 558 disadvantaged students in the commune to borrow capital for education and to purchase computers for online learning.

Policy credit funds have also contributed to creating jobs for 52 workers; building new houses and renovating and repairing 24 houses for poor households, and providing social housing loans to 12 households under Government Decree No. 100/2024/ND-CP dated July 26, 2024, detailing some provisions of the Law on Housing on the development and management of social housing . Along with local financial resources, social policy credit funds and entrusted lending activities of socio-political organizations have significantly contributed to promoting the socio-economic development of Huong Non. The poverty rate in the commune decreased from 9.5% in 2014 to 1%, people's lives have improved, and their trust in the Party and the State has been firmly consolidated. Huong Non achieved the status of a New Rural Commune in 2016 and an advanced New Rural Commune in 2022.

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