Staff of the transaction office of the Social Policy Bank of Hoa Thanh town and the President of the Women's Union of Hiep Tan ward (right cover) give capital to demobilized soldiers.
Clearly identifying the effective use of policy capital as a key factor to ensure the success of the preferential credit program, in recent times, the provincial branch of the Vietnam Bank for Social Policies (VBSP) has seriously implemented the work of inspecting and supervising the use of loans for young people who have completed their military service and returned to their localities to borrow capital to start a business under the job creation loan program.
Ensuring credit efficiency
According to the provincial branch of the Vietnam Bank for Social Policies, the implementing unit organizes the inspection of 100% of new loans of demobilized soldiers within 30 days from the date of disbursement. Thereby, promptly instructing and adjusting the method of capital use to suit the approved production and business plan, avoiding misuse or overdue debt.
Inspection and supervision work is organized periodically and suddenly, with the participation of socio- political organizations, local authorities, and savings and loan groups. The organizations and associations receiving entrustment at the grassroots level also actively participate in meetings to review and inspect the implementation of debt repayment commitments and disseminate new regulations, helping demobilized soldiers proactively plan debt repayment and reinvestment.
Ms. Nguyen Thi Minh Hang - Deputy Director of the Provincial Branch of the Social Policy Bank said: "Through actual inspection, most of the loans of young people who have completed their military service and People's Public Security service have been used for the right purposes, investing in livestock farming, purchasing machinery, mechanical repair, small-scale production, technical services... Many cases have had income, quickly stabilizing their lives and creating more jobs for their relatives. Some models have become typical, introduced at meetings and commune transaction sessions".
According to Mr. Ngo Le Trung Hung - credit officer of the Social Policy Bank Transaction Office in Chau Thanh district, from the beginning of 2025, the unit will coordinate with local authorities, departments, branches, and organizations to review and make a list of young people who have completed their obligations for no more than 36 months to borrow capital to solve employment.
In order to improve the quality of the entrustment work, the District Social Policy Bank Transaction Office closely coordinates with the entrusted socio-political organizations to pay attention to the inspection and supervision work. Every year, the entrusted socio-political organizations organize the implementation of the inspection and supervision process for the following contents: the implementation of joint documents, entrustment contracts; mobilize the establishment of Savings and Loan Groups to guide the operation in accordance with the regulations on the organization.
In addition, the entrusted socio-political organizations also participate in monthly transaction and meeting sessions with the Social Policy Bank; proactively and closely follow the direction to fully and seriously implement the entrusted contents; develop specific inspection and supervision plans for groups and households; guide members of the Savings and Loan Groups to conduct transactions with the Social Policy Bank; and repay the principal and interest on loans on time as committed to the bank.
At the same time, review and register loan capital needs; strengthen and improve the quality of operations of Savings and Loan Groups; proactively direct and participate in Savings and Loan Group activities to ensure publicity and transparency in loan review meetings to correctly identify beneficiaries, loan amounts, loan periods and loan purposes.
“The inspection and supervision of loans for demobilized soldiers not only ensures credit efficiency but also contributes to building trust for borrowers, thereby spreading the spirit of self-reliance and self-reliance of soldiers in peacetime in accordance with the spirit of Resolution No. 74/2024/NQ-HDND dated May 28, 2024 on regulations for a number of other policy subjects in the locality to borrow capital from local budget capital entrusted through the provincial Social Policy Bank in the province” - said a credit officer of the Chau Thanh District Social Policy Bank Transaction Office.
Thanks to the loan, young people who have completed their military service have stable jobs and develop their family's economy .
Need to increase lending capital
The implementation of the policy of providing loans to help young people who have completed their military service and returned to their localities has brought about many positive results. However, during the implementation process, the provincial branch of the Vietnam Bank for Social Policies also encountered some difficulties and problems that need to be addressed. For example, some demobilized soldiers who returned to their localities were still confused about choosing a suitable career and had not received any information or career counseling. Many young people did not have a clear orientation about their jobs or had not yet developed a feasible production and business plan, leading to limited access to capital or difficulty in promoting efficiency.
The demand for loans for demobilized soldiers is to meet the needs of starting a business in some areas with high investment costs such as: high-tech agricultural production, technical repair, mechanics or small transportation services... However, the source of loans is still limited so it cannot meet the needs of borrowers.
Make a list of young people after discharge who are eligible for preferential loans.
To promote the effectiveness of preferential credit policies for demobilized soldiers, in the coming time, the Provincial Branch of the Vietnam Bank for Social Policies will continue to closely coordinate with entrusted socio-political organizations and authorities at all levels to strengthen policy propaganda, guide documents, and evaluate loans for the right subjects and needs. In addition, strengthen inspection and supervision after lending, ensure that capital is used for the right purposes, promote practical effectiveness, contribute to the formation of a generation of post-military youth with economic thinking, production capacity, and positive contributions to local development.
The provincial branch of the Vietnam Bank for Social Policies recommends that the Central and local governments supplement capital sources from the State budget and local budgets; at the same time, consider increasing the loan limit for some start-up models that require large capital. All levels and sectors should strengthen counseling and career guidance activities for demobilized soldiers right from the military and when they complete their service, especially integrating career orientation programs with information on preferential credit policies to help young people have clear and feasible plans to establish their careers.
Thien Di - Phuong Thao
Source: https://baotayninh.vn/bai-cuoi-no-luc-nang-buoc-cho-bo-doi-xuat-ngu-a190722.html
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