Policy credit efficiency in Hiep Duc

A member of the Board of Directors of the Provincial Bank for Social Policies has just chaired a delegation to inspect and supervise policy credit in Hiep Duc. Photo: PV

The representative board of the Board of Directors of the Social Policy Bank (CSXH) of Hiep Duc district said that from 2023 to now, the disbursement work has been timely, basically meeting the capital needs for 1,959 poor households, near-poor households, newly escaped poverty households and other policy beneficiaries to borrow nearly 102.8 billion VND to invest in production, business, afforestation, livestock farming, housing construction and economic development...

The total outstanding debt of 18 social credit loan programs in the area is more than 379 billion VND, with 5,660 households borrowing, an increase of 43.9 billion VND compared to 2022.

According to the analysis of the Board of Directors of the Social Policy Bank of Hiep Duc district, the disbursement rate at the commune is 100%, the debt collection rate at the commune is 99.7% and the interest collection rate at the commune is 99.9%. The credit quality classification results of transaction offices every month, quarter and year are always good.

By March 31, 2024, the total credit quality assessment score of the whole district reached 98.5 points; 139/141 savings and loan groups were classified as good, accounting for 99.58%; 2 groups were classified as fair, accounting for 1.42%, and there were no groups classified as average or weak.

Assessing the quality of policy credit, Mr. Hoang Van Hung - Vice Chairman of the District People's Committee, Head of the Board of Directors of the Social Policy Bank of Hiep Duc District said that each lending program as directed by the Government was promptly organized and implemented.

Credit capital is allocated to 46/46 villages and residential blocks and is focused on investing in industries, crops and livestock that are suitable for the socio-economic development orientation of the district.

From 2023 to present, policy credit capital has helped 1,604 young people in the district have capital to invest in production, business, and create jobs.

Many youth business models have been funded with effective economic benefits, typically the acacia planting and cattle raising projects of Mr. Ho Van Ranh (Tra No village, Phuoc Tra commune), Mr. Ho Thi Xuan (Ha Son village, Phuoc Gia commune), Mr. Le Thi Canh (An Phu village, Thang Phuoc commune)... Through policy credit capital, more than 1,014 clean water and sanitation facilities have been built and renovated; creating jobs for 637 workers.

Based on the assessment of policy credit quality, the Transaction Office of the Social Policy Bank of Hiep Duc district said that it will continue to prioritize loans for investment in developing afforestation, garden economy, farm economy, livestock, investment in developing OCOP products; women starting businesses, youth economic development...

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