The effectiveness of policy credit capital in Nam Sach

With 100 million VND in policy credit capital, Mr. Nguyen Van Chien's family in An Lam commune has more conditions to invest in production.

"Midwife" of difficult lives

Nearly 20 years ago, Mr. Nguyen Van Chien, born in 1965 in Dong Nghia village, An Lam commune, first accessed policy credit capital. At that time, with only a few million VND in preferential loans, Mr. Chien turned a plot of land of more than 1 hectare into a mushroom farm. However, after many ups and downs in the market, in 2015 he converted to a garden-pond-cage model. At the end of 2023, Mr. Chien accessed policy credit capital for the second time under the job creation loan program.

“With the 100 million VND borrowed, I have bought more fish and ducks for breeding since the beginning of the year. It is estimated that by June, the first batches of fish such as grass carp, bighead carp, and bighead carp in my family’s 1.4-acre fish pond will be harvested, with an expected profit of 60 million VND. In addition, in just over a month, the flock of more than 200 commercial ducks can also be sold, helping my family earn a few dozen million VND more,” Mr. Chien shared.

Mr. Chien also bought nearly 2,000 tree seedlings of many types such as sưa, dổi, lim... to plant in the garden.

In the same An Lam commune, the family of Ms. Nguyen Thi U., born in 1962 in Cam Ly village, has just received a loan under a program for relatives of people who have completed their prison sentences. Ms. U. shared that due to her husband's unstable income from his construction work, the family's livelihood depends on the 7-sao fish pond. "In years when the market price is good, my family earns about 40 million VND in profit, but in years when the price is low, it is not worth much, especially when the price of fish feed is as high as it is now. In the midst of difficulties, my family encountered another incident when our son had to serve a prison sentence for a mistake nearly a year ago," Ms. U. shared.

In early 2024, after being approved for a loan of 100 million VND, Ms. U.'s family renovated the fish pond, bought more fish and a pair of breeding cows. "With more capital to do business, and my son having a job after being released from prison, this can be said to be a double joy for my family at this time," Ms. U. added.

As a civil servant in Thai Tan commune, Hoang Thi Thao, born in 1981, had never dared to dream of building a house. In 2000, Thao got married, and a year later, she and her husband had their first son. They thought a good life would come, but then tragedy struck. In 2006, her husband unfortunately passed away in a traffic accident.

In the 60-square-meter house owned by her grandparents, Thao and her daughter never dared to dream of a new house. “I was lucky enough to be given a 500 million VND policy loan to build a more spacious house on the land left by my family. That makes me very happy,” Thao shared.

Persistently supporting people

Thanks to policy funding, now Hoang Thi Thao and her children in Thai Tan commune have a more spacious home than before.

In the first quarter of 2024, the total amount of money that the Nam Sach District Social Policy Bank Transaction Office has lent is nearly 41 billion VND to nearly 1,000 customers, the highest in the entire social policy bank system in the province. Compared to the same period in 2023, it increased more than 3 times, equivalent to nearly 31 billion VND. Meanwhile, debt collection revenue is nearly 23 billion VND, an increase of 54%.

Loan turnover and debt collection are among the indicators to evaluate the efficiency of capital turnover in the banking sector. In Nam Sach, both indicators recorded impressive growth, showing high efficiency in the use of policy capital in this locality.

Mr. Dang Van Hiep, Director of the Transaction Office of the Social Policy Bank of Nam Sach District, said: “In 2024, in addition to favorable conditions, people's production and business activities are forecasted to still face many difficulties, and access to credit sources is limited, especially for vulnerable groups. The unit has focused on implementing tasks from the beginning of the year, coordinating with units entrusted to transfer assigned policy capital, contributing to helping the poor and policy beneficiaries access loans, creating more conditions to improve their livelihoods”.

Not only lending and debt collection, policy credit balance in Nam Sach is also among the top in the whole system. By the end of March 2024, policy credit balance in this district is estimated at nearly 450 billion VND, an increase of 4.3% compared to the beginning of the year. This is also a locality with no overdue debt, thanks to which it has the best credit quality in the system. Policy credit capital contributes to reducing the rate of poor households in the district from 1.62% (end of 2022) to 1.39% (end of 2023) and near-poor households from 1.39% (end of 2022) to 1.22% (end of 2023).

HA KIEN

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