Effectiveness of loan capital to create jobs in Muong Coi

The loan capital for job creation from the Vietnam Bank for Social Policies is having positive effects in Muong Coi commune, supporting many households to develop the economy, create jobs, improve income and stabilize life.

The Thai tangerine growing model of the people of Nghia Hung village, Muong Coi commune was invested from a loan from the Vietnam Bank for Social Policies.

Every year, the Transaction Office of the Social Policy Bank (CSXH) of Phu Yen coordinates with the Party Committee, authorities and organizations of Muong Coi commune to review and make a list of beneficiaries according to Decree No. 61/2015/ND-CP dated July 9, 2015 of the Government regulating policies to support job creation and the national employment fund. From there, consider the specific loan level for production and business establishments with a maximum of about 2 billion VND/project and not more than 100 million VND for 1 employee to create, maintain and expand jobs. The maximum loan term is 120 months, interest rate is 7.92%/year.

Mr. Cam Hai Dang, Director of the Transaction Office of the Social Policy Bank (CSXH) Phu Yen, informed: Through reviewing and planning loans, preferential credit capital for job creation is allocated and disbursed to the right beneficiaries and for the right purposes. At the same time, the unit closely coordinates with entrusted organizations to disburse at the commune's transaction points, bringing capital to the people more conveniently and strengthening inspection and supervision of the effective use of loans.

People of Nghia Hung village, Muong Coi commune use loans from the Social Policy Bank to invest in production development.

Muong Coi commune maintains 45 savings groups borrowing capital from the Bank for Social Policies, the outstanding loan program for job creation in the commune is over 21.4 billion VND, with 361 customers borrowing capital. The main loan subjects are households with clear production and business purposes, development potential, high economic efficiency and the ability to create jobs for many rural workers. In particular, priority is given to lending for OCOP product production models, according to VietGAP standards...

Mr. Phan Ngoc Linh, Chairman of Muong Coi Commune People's Committee, said: From the loan capital, many households have invested in livestock and poultry farming models, renovating fruit growing areas, and doing commercial and service business. Those eligible for loans have used the capital for the right purposes, improving production and business efficiency, creating stable income, and creating jobs for many local workers.

Escaping poverty thanks to policy credit loans, Ms. Dang Thi Hai, Nghia Hung village, shared: In early 2024, through the Commune Veterans Association, I was supported with a loan of 50 million VND from the Phu Yen Social Policy Bank Transaction Office to invest in breeding cows. Currently, the cow herd is growing well, my family has escaped poverty, paid off all debts, and still has money left to invest in expanding production.

Farmers in Muong Coi commune invest in breeding pigs from loans from the Vietnam Bank for Social Policies.

After being facilitated to borrow capital from the Bank for Social Policies twice, Ms. Dang Thi Luu's family in Nghia Hung village has successfully developed a model of growing fruit trees combined with raising livestock, not only escaping poverty but also bringing in high income. Ms. Luu shared: In 2019, with a loan of 50 million VND, my family invested in land improvement and bought seedlings to grow 5,000 m2 of oranges and grapefruits. After paying off the debt, in 2023, my family continued to borrow another 100 million VND to expand the fruit garden to 1 hectare, invest in barns to raise 30 sows and 200 pigs, bringing a stable source of income for the family.

The effectiveness of the loan program to create jobs in Muong Coi is a clear proof that the preferential credit policy has been and is coming into life, effectively supporting people to develop production and increase income. In the coming time, the Phu Yen Social Policy Bank Transaction Office will continue to simplify loan procedures, arrange mobile transaction teams, promptly disburse capital; strengthen inspection and supervision of the effective use of loans, contributing to socio-economic development and new rural construction in the locality.

Source: https://baosonla.vn/kinh-te/hieu-qua-tu-nguon-von-vay-giai-quyet-viec-lam-tai-muong-coi-dK6Am2kvR.html