A fulcrum to help women escape poverty

Thanks to preferential loans from the Bank for Social Policies, Ms. Lo Thi Thanh, a member of the Women's Union of Chieng So commune ( Dien Bien Dong district) has invested in developing an egg-laying chicken farming model.

Once a poor household in Nam Po 2 village, Muong Nhe commune (Muong Nhe district), but now, Ms. Tong Thi Dai's family's economic conditions have improved and she has gradually risen in hunger eradication and poverty reduction. Especially since the Women's Union of Muong Nhe commune created conditions for a loan of 50 million VND from the district's Social Policy Bank. With the initial loan, Ms. Dai invested in buying 2 breeding buffaloes to raise. Thanks to her diligence, hard work, and eagerness to learn and apply techniques to animal husbandry, after only 1 year, her family's breeding buffaloes began to reproduce. With the motto "taking short-term to nurture long-term", in 2022, Ms. Dai borrowed an additional 100 million VND from the job creation fund to continue investing in economic development.

Ms. Dai expressed: “Previously, the family's life depended only on cassava and corn fields, so life was quite precarious. During difficult times, in 2021, the family was fortunate to be introduced by the Women's Union of the commune to borrow capital entrusted by the Bank for Social Policies. Thanks to that, the family was able to find a way to develop the economy and escape poverty. Up to now, the family has built a model of raising both meat buffalo and breeding buffalo with nearly 10 buffaloes, providing a fairly stable income…”.

Similar to Ms. Dai, the family of Ms. Do Thi Hanh, a member of the Women's Union of Group 5, Dien Bien Dong Town (Dien Bien Dong District) also had early access to preferential loans from the Social Policy Bank. Based on the loan amount, Ms. Hanh's family has invested in building a comprehensive business model with an average income of over 150 million VND/year. In addition, she also created regular jobs for 2 members in difficult circumstances with an income of 5 - 6 million VND/month...

Many women's union members of Sin Thau commune (Muong Nhe district) have access to loans from the Bank for Social Policies to effectively invest in economic development.

In addition to Ms. Hanh, from the preferential loans of the district's Social Policy Bank, thousands of women's union member households in Dien Bien Dong district have received loans to invest in economic development. Many of them have boldly introduced new, high-yield, high-quality plant and animal varieties into production, gradually changing old farming practices. Through credit capital entrustment activities, in the period of 2021-2024, the district's Social Policy Bank has entrusted preferential loans to many members of the Women's Union; thereby maintaining and effectively developing 65 economic models.

Mr. Nguyen Van Dung, Director of the Social Policy Bank of Dien Bien Dong district, said: In the past time, the Transaction Office of the Social Policy Bank of the district has created all favorable conditions to support female members in the district to develop the economy and strive to become rich legitimately. To do that, the unit, together with the District Women's Union, has done a good job of entrusting policy credit capital, creating conditions for female members to borrow capital to invest in production, livestock farming, and develop the family economy. Therefore, the capital entrusted through the Women's Union has been constantly increased in terms of outstanding loans as well as the scale of credit programs, promptly meeting the aspirations of a large number of female members in difficult circumstances. By the end of August 2024, the total outstanding loan entrusted capital managed by the District Women's Union was 130.6 billion VND, through 65 savings and credit groups, with more than 2,320 households borrowing. Thereby, it has helped hundreds of women's households develop their economy and escape poverty sustainably, contributing positively to the process of poverty reduction and economic development of the district.

The Social Policy Bank of Muong Cha district is interested in training in trust skills for members of the district Women's Union and mass organizations in the area.

In order to help female members have conditions to rise up in economic development, the Social Policy Bank always creates favorable conditions for women to access preferential credit capital. Together with the Women's Union at all levels, it effectively manages preferential credit capital in the whole province. In particular, it focuses on surveying, evaluating, and classifying poor households in each commune, village, and hamlet according to regulations; paying attention to single-parent households, women-headed households, and encouraging women to participate in activities and complete loan procedures. The Women's Union at all localities also focuses on urging and directing the Management Board of Savings and Credit Groups to monitor the use of loans for the right purposes, effectively, repaying debts, paying interest, and practicing savings by group members, and strengthening the direction and supervision of transaction sessions. In order for members to use loans for the right purposes and bring high efficiency, Women's Unions at all levels also proactively organize propaganda sessions, instructing loan members on how to do business and use capital effectively, and how to apply new scientific and technical advances in production...

Through the entrusted capital of the Bank for Social Policies, many women members in the province have risen out of poverty. From that, it can be affirmed that preferential loans are the fulcrum to help improve the material and spiritual life of women members, contributing to the successful implementation of poverty reduction and new rural construction projects in the whole province.

Source: https://baodienbienphu.com.vn/tin-tuc/Ngan-hang-csxh/218462/diem-tua-giup-phu-nu-thoat-ngheo