A fulcrum to help many households escape poverty

Policy credit capital is being effective in building new rural areas in Son La, helping thousands of poor and near-poor households to invest in production development, increase income and improve their lives.

Trading session of Thuan Chau Social Policy Bank.

The story of Mr. Ly A Trong's family in Buom Khoang village, Phieng Pan commune, is a clear example. Previously, his family was a poor household, growing corn and cassava all year round, with an unstable income. In 2019, after visiting and learning about effective production models, he boldly borrowed 100 million VND from the Vietnam Bank for Social Policies (VBSP), invested in renovating 1.5 hectares of land, growing plums, longans, and green-skinned grapefruit, combined with growing elephant grass to raise cows and goats. In 2024, he continued to learn and apply techniques to care for 100 plum trees for early harvest from the end of March, selling for 50,000-70,000 VND/kg. Mr. Trong confided: With policy capital, my family dared to think about expanding production. Now, not only do we have enough to eat and wear, we also have savings to take care of our children's education.

Not only supporting production development, policy credit also helps many households improve their living conditions. The family of Ms. Quàng Thị Mắn, Sub-area 2, Mường Bú Commune, used to have to bring water for daily use from a well nearly 2 km away from their house. During the rainy season, the water was muddy and during the dry season, it was dry. In November 2024, she borrowed 50 million VND from the rural clean water and environmental sanitation program, plus her savings, to build a water tank, bathroom, and closed toilet. Ms. Mắn said: My family has many people, and the lack of water for daily use is very difficult. With the preferential loan, the family was able to build a clean water project, with convenient living hours, and the children had a place to bathe and wash clothes, ensuring the health of the whole family.

Staff of Thuan Chau Social Policy Bank Transaction Office introduce preferential credit programs to people.

These are just 2 of thousands of households that have benefited from policy credit capital; not only does it help people develop production and improve their lives, but the capital has also gradually changed their thinking and economic practices. In line with the goal of building new rural areas, the Provincial Branch of the Bank for Social Policies always prioritizes allocating capital to communes that have registered to meet the standards, ensuring that capital reaches the right subjects, in a timely manner, and promotes practical effectiveness. Thanks to that, in rural areas, not only have people's lives been improved, but criteria on income, poverty reduction, employment, environment, etc. have also been gradually improved.

Mr. Hoang Xuan Truong, Director of the Provincial Branch of the Bank for Social Policies, said: Determining the effectiveness of policy credit is the top priority, especially in communes building new rural areas, the unit prioritizes timely capital allocation, helping tens of thousands of households have the opportunity to develop the economy. From 2021 to now, nearly 158 thousand poor, near-poor households, and policy beneficiaries have received loans, with a total loan of nearly 7,900 billion VND, helping 39 thousand households escape poverty, contributing to reducing the poverty rate of the whole province from 18.3% in 2020 to 10.8% by the end of 2024. Notably, outstanding policy credit in new rural communes currently reaches more than 6,400 billion VND, accounting for nearly 90% of the total outstanding debt of the whole branch.

Farmers in Buom Khoang village, Phieng Pan commune use policy credit loans to develop raising cows in barns.

Policy credit capital is providing loans to more than 23,000 households to create jobs, maintain and expand production; 184 workers are receiving loans to work abroad for a limited period; nearly 29,000 households are receiving loans to develop businesses in disadvantaged areas; nearly 330 students in difficult circumstances are receiving loans to cover tuition fees and purchase equipment for online learning. In particular, the capital has contributed to the construction, renovation and upgrading of more than 83,000 clean water and rural environmental sanitation works, improving the quality of life and health of the people.

Continuing to expand and improve the quality of policy credit, with the support of Party committees and authorities at all levels, policy credit capital will continue to be a solid foundation, helping people feel secure in investing in production, stabilizing their lives, contributing to the successful implementation of the goal of building new rural areas, sustainable poverty reduction, and building Son La to develop more and more.

Source: https://baosonla.vn/thuong-mai-dich-vu/diem-tua-giup-nhieu-ho-dan-thoat-ngheo-BK1lKD9HR.html