Development leverage from policy capital in Uncle Ho's hometown

Leverage from policy capital

During the journey back to the source of Nam Dan district - Uncle Ho's hometown these days of May, visitors cannot help but admire the rustic OCOP products such as Thien Nhan lemon, pink wine, kudzu, lotus tea, soy sauce, veal ham... Those "highlight" products were built and developed with loans from the Social Policy Bank.

At the "Quan Beo" veal ham production facility of Mr. Le Hai Quan's family in Sen 1 hamlet, Kim Lien commune, his family's products have been present in many provinces and cities across the country, creating jobs for more than a dozen workers with stable income. That result of his family originated from 100 million VND of the loan program for near-poor households of the Bank for Social Policies of Nam Dan district.

Economic models in Nam Dan district. Photo: BNA

Mr. Quan said: "From the job creation loan from the Social Policy Bank, my family has had the resources to invest in machinery and equipment to make a veal ham production facility; have more conditions to cover life's difficulties and continue to invest in expanding production according to modern trends.

Like Mr. Quan's family, Mr. Tran Van Tra's family in Van Hoi hamlet is currently borrowing 100 million VND from the job creation program to invest in pig farming. Along with applying the right farming techniques, up to now, Mr. Tra's pig farm has more than 800 pigs, creating a stable income for the family. The clean water supply system for bathing pigs and the livestock wastewater treatment system are built to meet standards, not affecting the living environment of local people.

Mr. Le Hai Quan's veal ham production facility in Kim Lien commune, Nam Dan district creates stable income for many local workers. Photo: TH

The persistent efforts of each resident of Kim Lien commune such as Mr. Quan and Mr. Tra have created an increasingly developing economic picture. The total outstanding balance of credit programs in Kim Lien commune to date has reached 42 billion VND, with 9 credit programs being implemented. Through policy capital, it has contributed to reducing the poverty rate of the commune in the period of 2020 - 2025, from 4.1% to 0.55%; 905 poor households, near-poor households and other policy beneficiaries have received loans to invest in production and business development, serving social security.

From a poor village, Kim Lien commune has risen to innovate every day and was awarded the title of "Hero of the People's Armed Forces" by the State in 1997; and the title of Cultural Commune in 2006. In 2014, Kim Lien commune was recognized by Nghe An province as a commune that met the new rural standards. Notably, in 2023, Kim Lien commune met the model new rural standards and is on the journey to compete to build and improve the model new rural criteria.

People borrow credit policy capital to develop effective livestock farming. Photo TH

Not only in Kim Lien commune, the people of Uncle Ho's hometown are overcoming themselves every day and every hour in the journey of economic development and improving their lives. Policy credit capital is one of the resources that help the locality build new rural areas and reach the goal of advanced new rural areas.

Director of the Bank for Social Policies of Nam Dan District, Nguyen Sy Hai, said: The effective implementation of policy credit programs plays an important role in implementing the National Target Program on sustainable poverty reduction, ensuring social security, creating jobs, building new rural areas; contributing to the implementation of the goals of economic restructuring, restoring craft villages, developing and expanding OCOP products and services in the area.

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Deputy Prime Minister Tran Hong Ha has just signed Decision No. 921/QD-TTg on recognizing Nam Dan district, Nghe An province as meeting advanced new rural standards in 2024. By the end of 2024, Nam Dan district had 18/18 communes recognized as meeting new rural standards (100%); 15/18 communes were recognized as meeting advanced new rural standards (83.3%); 7/18 communes were recognized as meeting model new rural standards (38.9%); Nam Dan town met civilized urban standards. Nam Dan district met 9 criteria according to the set of criteria for advanced new rural districts in the period 2021-2025. Average income per capita in 2024 reached 67 million VND; the multidimensional poverty rate was 2.1%.

Pillar of economic development , ensuring social security

Nghe An is a land rich in patriotic and revolutionary traditions, this spirit has been and is being fostered by the effective implementation of policy capital over the years. In particular, to revive a poor land, with a large area and administrative unit, difficult transportation, high rate of poor households, near-poor households and other policy beneficiaries.

Over the past years, the Nghe An branch of the Bank for Social Policies has actively and effectively advised local Party committees, authorities and Board of Directors at all levels to effectively implement Directive No. 40-CT/TW, Conclusion No. 06-KL/TW on strengthening the Party's leadership over policy credit and recently Directive No. 39-CT/TW. In particular, focusing on local resources to entrust loans to policy beneficiaries through the Bank for Social Policies.

Nam Dan District Social Policy Bank visits families with revolutionary contributions. Photo: TH

By April 30, 2025, the total capital implemented at the branch reached VND 14,071 billion, of which the capital entrusted from the local budget reached VND 536 billion, accounting for 3.81% of the total capital. This is the foundation for the branch to expand credit to support the poor and policy beneficiaries in 100% of communes and wards in the province, with a total outstanding loan balance of VND 14,053 billion for many policy credit programs.

In addition, the Nghe An branch of the Social Policy Bank continues to promote the application of digital banking, to enhance customer experience, providing mobile banking services to customers with increasingly diverse utilities. Credit quality is not only growth figures but also verified through the synthesis of inspection and comparison results of associations and organizations at all levels with the conclusion that loans are disbursed to the right subjects, 100% of households receive loans and use the capital for the right purpose and effectively.

However, in order for social policy credit to continue to be a pillar of economic development, ensuring social security, promoting Nghe An to move faster, catch up with the whole country in the era of national development, Director of the Nghe An Provincial Bank for Social Policies Branch Tran Khac Hung said: Capital to support the poor and policy beneficiaries is still a challenge for the province. By the end of the first quarter of 2025, most provinces and cities in the country have completed the plan to increase local budget capital for the whole year, however, the Nghe An provincial branch has only achieved a rate of 54.3%.

The Social Policy Bank disburses policy capital to the people. Photo: TH

To promote local economic development, Director of the Nghe An Provincial Bank for Social Policies Branch Tran Khac Hung said that the unit will continue to advise the Provincial People's Committee and the People's Committees of districts that have not completed the transfer of local entrusted capital to continue to complete the assigned targets in the second quarter of 2025. Continue to advise the Provincial People's Committee to balance the transfer of sufficient provincial budget capital to complete the plan objectives of the Project "Investing in policy credit for poor households, near-poor households and other policy beneficiaries in Nghe An province, period 2023 - 2025". Balance and arrange local budget capital in 2025 entrusted through the Bank for Social Policies to lend for the purchase, hire-purchase of social housing, housing for armed forces, and housing for workers under the direction of the Provincial People's Committee. Proactively advise the Provincial People's Committee to arrange the budget entrusted through the Social Policy Bank in the medium-term public investment capital plan for the period 2026 - 2030 of the Provincial People's Committee, ensuring that the local budget reaches at least 15% of the total capital of the Social Policy Bank according to Directive No. 39-CT/TW dated October 30, 2024.

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The branch will also proactively coordinate with local authorities at all levels and entrusted socio-political organizations and related units to effectively implement preferential credit policies and guidelines in the area, disburse capital in a timely manner; closely monitor capital sources to ensure loans are given to the right subjects, used for the right purposes, and promoted effectively, contributing to supporting Nghe An to take advantage of the historic opportunity when the Politburo issued Resolution No. 39-NQ/TW, and was granted a special mechanism to not only "strive to become a well-off province" as Uncle Ho once instructed, but further, to become a modern development model of the Central region in the new era of development.

Mr. Tran Khac Hung - Director of the Social Policy Bank Branch in Nghe An province

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Source: https://baonghean.vn/don-bay-phat-trien-tu-nguon-von-chinh-sach-o-que-bac-10297619.html