In 2002, Mr. Ly Seo Ao, a Mong ethnic in Bao Yen district, Lao Cai province, was a poor household and borrowed 2 million VND from the Poor Household Loan Program. With the family's savings, Mr. Ao bought a breeding buffalo. After 5 years, the mother buffalo gave birth to two more calves, providing the family with additional capital for development. Besides raising buffalo, Mr. Ao also grew crops, raised pigs and chickens, ensuring daily living expenses and increasing income. Thanks to diligence, hard work and thrift, after 5 years, his family rose out of poverty.
To expand the buffalo herd and create more jobs for family members, in 2007, Mr. Ly Seo Ao continued to borrow 30 million VND from the capital for production and business. With this capital, his family invested in developing more sow buffalo herds and growing grass for animal feed. Thanks to that, the family has more income from selling buffalo for meat and breeding, the economy is increasingly stable and has fully repaid the loan to the Social Policy Bank.
By 2019, when the Government issued a loan policy for developing production forests and livestock farming under Decree No. 75, Mr. Ao boldly borrowed an additional 50 million VND to expand livestock farming and develop buffalo herds on his family's forest area. Thanks to the effective use of capital, by 2024, his family had completed paying off the debt to the Social Policy Bank from the revenue from selling buffaloes and exploiting cinnamon. Since then, Mr. Ly Seo Ao's family has officially escaped poverty and risen to stabilize their lives.
The story of Mr. Ly Seo Ao's family is just one of many households in Lao Cai province, especially ethnic minorities living in remote areas, who have risen out of poverty thanks to the Government's policy capital through the Social Policy Bank system.
In 1995, the Bank for the Poor was established, marking an important first step in the State's policy credit work. Seven years later, on October 4, 2002, the Bank for Social Policies was officially established, taking over and carrying out the tasks of the Bank for the Poor. With the mission of implementing preferential credit policies for policy beneficiaries, the Bank for Social Policies has contributed to the national goal of hunger eradication, poverty reduction, and improving people's lives, especially those in remote areas and ethnic minority areas. Thereby clearly demonstrating the humane nature of the social regime: "No one is left behind."
The generation of staff working at the Bank for the Poor and later the Bank for Social Policies in the two provinces of Yen Bai and Lao Cai (old) have made efforts to overcome many difficulties, always staying close to the grassroots, closely coordinating with local Party committees, authorities and socio-political organizations. Thanks to that, the work of reviewing, making a list of loan recipients, appraising documents and disbursing capital sources has been carried out promptly and in accordance with regulations.
Comrade Nguyen Van Ty - former Director of the Bank for the Poor and the Social Policy Bank of Yen Bai province (old), shared: "When transferring from the Agricultural Bank, which has a stable organization, solid operations and better staff lives, to To serve the poor, we must have great determination. Although the conditions at that time were still difficult, the generation of staff of the Social Policy Bank always steadfastly adhered to the goal: honesty, dedication, bringing capital to the right subjects, promoting practical efficiency."
From July 1, 2025, according to Resolution No. 60 of the Party Central Committee and Resolution No. 202 of the National Assembly, the two provinces of Yen Bai and Lao Cai officially merged into Lao Cai province. Along with that, the two Social Policy Branches of Yen Bai and Lao Cai provinces were also merged, forming the Lao Cai Provincial Social Policy Bank Branch.
Immediately after the merger, the organization and staff were quickly consolidated. Currently, the Branch has a Party Committee directly under the Provincial People's Committee, with 10 Party cells directly under the Party Committee and 8 Party cells directly under the People's Committee of the commune where the headquarters is located. The entire Branch has 17 transaction offices, and 319 transaction points in 99 communes across the province are maintained, ensuring timely service to the needs of the people.
If in 2003 (when the two branches were established), only 2 credit programs were implemented with a total outstanding debt of 49 billion VND (Yen Bai 26 billion VND, Lao Cai 23 billion VND), including loans for poor households of 39 billion VND and job creation of 10 billion VND, then up to now, Lao Cai Provincial Branch of the Bank for Social Policies has implemented 22 credit programs, with a total outstanding debt of 11,352 billion VND, serving more than 157 thousand households with outstanding debt.
Credit quality has been increasingly consolidated and improved, with total overdue debt and deferred debt accounting for only 0.38% of total outstanding debt (of which overdue debt is 0.08%, deferred debt is 0.3%). Commune transaction points are always classified as good; the network of savings and loan groups includes 4,393 groups, of which 4,146 groups (95.4%) are classified as good, 203 groups (4.6%) are classified as fair, 44 groups (1%) are classified as average, and no group is classified as weak.
Comrade Ngo Hanh Phuc - Vice Chairman of the Provincial People's Committee, Head of the Board of Directors of the Lao Cai Provincial Social Policy Bank, said: "The Provincial Party Committee and the Provincial People's Committee highly appreciate the role of the Social Policy Bank in the work of hunger eradication and poverty reduction in general and new rural construction in particular. Resources from policy capital have helped poor people and policy households build new houses, have clean water and environmental sanitation facilities, and children of policy households have the opportunity to go to school; in particular, preferential capital from the Government has helped farmers have means of production, such as: buying materials, fertilizers, machinery, agricultural tools, seedlings, planting forests, building barns, digging ponds for fish farming... thereby stabilizing their lives and overcoming poverty".
Now, coming to villages from lowland to highland, or remote places with difficult transportation and harsh climates such as Mu Cang Chai, Hanh Phuc, Bat Xat, Ta Van, Si Ma Cai, Ta Cu Ty... it is easy to see that the face of agriculture, rural areas, and farmers' lives have all improved. Notably, with creative ways of mobilizing social resources, the emulation movement "eliminating temporary and dilapidated houses" of Lao Cai province "reached the finish line" 2 months earlier than the target assigned by the Prime Minister; poverty reduction work has achieved many positive results... these achievements have the contribution of preferential capital, along with the small efforts of the staff of the Bank for Social Policies.
Comrade Dinh Trong Hoai - Director of Yen Binh Transaction Office, excitedly said: "I just returned from the new house of Mr. To Van Ho and his wife, customers in Ca Lo village, Yen Thanh commune. I am really happy, because the happiness of the homeowner is also our happiness. The family has overcome difficulties and risen out of poverty thanks to the effective use of policy capital."
Looking back at the 30 years of its establishment, it can be affirmed that the Social Policy Bank system has been constantly stable and developed, making important contributions to the cause of hunger eradication, poverty reduction and ensuring social security. However, in many mountainous rural areas, people's lives are still facing many difficulties due to the impact of natural disasters, epidemics, etc. That requires the staff of the Social Policy Bank today to continue to promote the spirit of solidarity, strive to rise up, take advantage of the leadership and direction of the Party Committee, the government and the effective coordination of political and social organizations. All are working towards the goal of social security, with the highest determination: "No one is left behind."
Source: https://baolaocai.vn/hanh-trinh-30-nam-mang-von-uu-dai-den-cac-doi-tuong-chinh-sach-post884525.html
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