Unlike commercial credit channels, the Farmers Support Fund offers loans with simple procedures and preferential interest rates, suitable for farmers in the highlands. Thanks to that, farmers have boldly changed their production mindset, from fragmented to concentrated, bringing more efficiency.
For example, in 2023, the Farmers' Association of Van Chan commune created conditions for 10 households in Thac Hoa village to borrow 50 million VND/household from the Farmers' Support Fund to plant lacquer trees (an industrial tree for resin, the selling price of lacquer resin ranges from 200,000 - 210,000 VND/kg). After more than 2 years of implementing the project, the households planted 20 hectares of lacquer trees and harvested resin.
Mr. Trieu Van Mong, one of the members participating in the lacquer tree planting project, shared: Before, my family only had 2 hectares of lacquer trees. After receiving the loan, my family had more resources to invest and expand the area, now developing to 4 hectares, earning over 500 million VND each year from selling lacquer resin.
In addition to the lacquer tree planting project, the Commune Farmers' Association also disbursed the Farmers' Support Fund for a project on breeding cattle and buffaloes, supporting 3 households with a loan of 40 million VND/household; 2 cinnamon planting projects, with 8 households participating, with a loan of 30 - 37 million VND/household in Tap Lang village...
Most households that borrowed capital used it for the right purpose. Many households developed production and became well-off with incomes ranging from 100 to 500 million VND/household/year.
The Farmer Support Fund is one of the practical loan programs, helping farmer members in the commune build models according to group projects with the same goal of economic development, gradually rising to get rich and sustainably reduce poverty, opening up new opportunities for the development of collective economic models in the locality.
Loans from the Farmer Support Fund have given Van Chan farmers the confidence to take charge of their lives. Each successful model is not only a family's story, but also a testament to the effectiveness of the policy, a source of inspiration for other farming households to continue writing stories of life-changing events on their homeland.
Source: https://baolaocai.vn/giup-nong-dan-lam-giau-post883105.html
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