Nearly a year ago, the life of Ms. Hoang Thi Tam's family in Hamlet 5, Vinh Quang, Nung Tri Cao Ward was still full of difficulties. The couple worked as hired laborers, raised two small children, and had no capital to invest in production. With support from the Women's Union, Ms. Tam applied for a loan of 100 million VND from the job creation loan program. She invested in building barns, buying livestock, and renovating the garden to grow safe seasonal vegetables. Up to now, her family's comprehensive economic model has brought in a stable income of nearly 10 million VND/month.
Not only Ms. Tam, thousands of households in localities in the province have also accessed policy capital to develop their household economy. Mr. Trieu Ton Khe, Khuoi My hamlet, Ca Thanh commune said: In 2021, I was able to borrow 100 million VND to raise buffaloes for breeding and plant forests. Up to now, the buffalo herd has developed stably, the forest has begun to be exploited, and the annual income is estimated at nearly 40 million VND. In my hometown, I have land and labor, but in the past, I lacked capital, so it was difficult to develop. Thanks to the job creation loan program, I dare to invest long-term, and now my life is more stable.
Identifying the job creation loan program as one of the important programs, every year the Provincial Social Policy Bank actively coordinates with local Party committees, authorities, and entrusted organizations to promote propaganda and dissemination of policies, review subjects in need of loans, and disburse capital promptly and to the right beneficiaries. The transaction points of the Social Policy Bank increase access to the Government 's preferential credit policy services for poor households and policy subjects. Policy credit programs for ethnic minorities, remote areas, and isolated areas help people have access to financial services and preferential credit services of the State for economic development. Credit quality is guaranteed, capital from preferential credit programs is disbursed to the right subjects, and most households use loans for the right purposes. In particular, the annual job creation loan program has created conditions for over 1,000 local workers to have stable jobs. To date, the total outstanding loan program for job creation has reached over 2,000 billion VND.
Deputy Director of the Provincial Social Policy Bank Dang Trung Hong said: The job creation loan program is not only to support capital but also to motivate people to proactively develop their livelihoods and gradually escape poverty sustainably. With the characteristics of fragmented terrain and economic difficulties, policy capital has helped open up many opportunities to change the lives of people in the whole province, especially those in remote areas.
In order for capital to reach the right subjects, promptly and effectively, in the past time, the entrusted organizations have well coordinated the inspection and supervision of lending to poor households and other policy subjects according to the signed commitments; participated in monthly and quarterly meetings with the Vietnam Bank for Social Policies, proposed solutions to remove difficulties and obstacles at the grassroots level, coordinated with local authorities to handle overdue debt cases and provided guidance on preparing documents to request handling of risky debt and organized regular meetings, committed to using capital for the right purpose and paying interest on time. Savings and lending groups have well implemented the community responsibility, supporting timely repayment of principal and interest for group members when they encounter difficulties and are unable to repay their debts. Thanks to that, overdue and risky debt accounts for less than 0.3% of total outstanding debt.
Luong Thi Duyen, head of the Savings and Loan Group, Group 9, Song Bang, Nung Tri Cao Ward, shared: My group has over 34 members, with a total outstanding debt of over 4 billion VND. Borrowers mainly do organic farming or animal husbandry. I not only manage the books, but also remind people to pay their debts on time, guide them on how to spend, and calculate profits and losses after each crop.
By assigning mass organizations to be the focal point for capital management, people not only have quick access, but also receive regular support in the process of using capital, minimizing risks and avoiding borrowing for the wrong purpose.
Source: https://baocaobang.vn/hieu-qua-chuong-trinh-tin-dung-cho-vay-giai-quyet-viec-lam-3178573.html
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