Solving the problem of economic development capital for veterans

For veterans - those who have gone through war and those who have served in the military, what they always worry about is the lack of capital to invest in economic models, production and business. With the strength of lending to the poor and policy subjects, for decades, the Social Policy Bank (CSXH) of Ha Tinh province has deployed lending credit programs entrusted through the veterans' association.

Accordingly, the veterans association stands as a guarantee for members to access social policy loans. Thanks to this “leverage”, hundreds of economic models have been born and developed, contributing to improving the quality of life.

The family of veteran Tran Van Phuc (Ky Bac commune, Ky Anh district) invests in fishing services and raising specialty animals for a revenue of 2 billion VND/year.

Mr. Tran Van Phuc - a veteran in Ky Bac commune (Ky Anh district) once "tried his hand" at raising traditional livestock such as buffalo, cows, chickens, pigs... However, the instability of the market along with the threat of disease in livestock caused him to suffer losses at times. The determination to develop the economy right on the land of his ancestors has always urged the old soldier, and after a process of research and learning, Mr. Phuc decided to invest in raising new animals that are popular in the market such as porcupines, bamboo rats, and weasels. In addition, owning a farm with a well-planned pond system, the family invested in fishing services combined with fish farming. Dare to innovate economic development thinking along with the support of the Social Policy Bank of Ky Anh district helped his family fundamentally change their lives.

Mr. Tran Van Phuc shared: “After participating in the Northern border war in 1979, I returned to my hometown to pursue farming. However, due to limited capital, my family only raised livestock on a small scale, with low economic efficiency. In recent years, the Bank for Social Policies has lent money to many programs such as: households newly escaping poverty, job creation, local capital trust... with a total outstanding loan of 300 million VND, helping my family have resources to invest in large-scale livestock farming. We are raising nearly 150 mink, bamboo rats, porcupines and doing business services, with a revenue of about 2 billion VND/year”.

Mr. Pham Anh Duc - Director of Ky Anh District Social Policy Bank informed: "As of April 25, 2025, the total outstanding debt of the whole unit reached more than 845.4 billion VND, of which the outstanding debt entrusted to the Veterans Association was over 167 billion VND with more than 2,740 households still having outstanding debt. With 76 savings and loan groups operating effectively, the quality of credit entrusted to the Veterans Association is good, with no overdue debt. The Social Policy Bank always creates conditions for Veterans Association members to access capital, creating investment resources for models with strengths such as: livestock farming, afforestation, aquaculture - seafood processing...".

Recently, the Hong Linh Town Social Policy Bank has focused on promoting credit policy programs for veterans to grasp and access. In addition to investing in traditional economic models, many people who served in the military in the town have boldly purchased machinery and developed service industries with relatively high incomes.

Mr. Pham Duy Ly's family (Hong Linh Town) invested in machinery for the production line.

Mr. Pham Duy Ly (residing in Dau Lieu Ward, Hong Linh Town) used to participate in training at Brigade 614, Information and Communications Command. After being discharged from the army and returning to his hometown, for a while, his family's life faced difficulties due to lack of stable employment. Later, Mr. Ly decided to learn a trade and open an aluminum, glass, and plastic furniture business and received capital from the Hong Linh Town Social Policy Bank. He invested in modern equipment for the production line, gradually expanding the scale, creating jobs for 2 workers, with an annual revenue of more than 2 billion VND.

Leaders of Hong Linh Town Social Policy Bank and the town's Veterans Association discussed policy credit.

Colonel Lu Duc An - Vice President of the Hong Linh Town Veterans Association said: “Policy credit capital is a channel for members to access, contributing to "solving the problem" of lack of production capital for demobilized soldiers. With 11 savings and loan groups in 6 wards and communes, the total outstanding policy credit debt entrusted to the Veterans Association reached 38 billion VND. During the lending process, the Association coordinated to guide, supervise, and publicly evaluate households that are in need and eligible for loans according to regulations. The Association also coordinated with banks to strengthen inspection and supervision of borrowing households and savings and loan groups to promptly grasp information, remove difficulties and obstacles, and improve credit quality".

As of April 25, 2025, the outstanding credit balance entrusted to the Ha Tinh Veterans Association reached VND 1,309 billion.

As of April 25, 2025, the total outstanding debt of the Ha Tinh Provincial Bank for Social Policies reached over VND 7,400 billion, of which the outstanding debt entrusted to the Veterans Association reached VND 1,309 billion. To promote the growth of outstanding debt entrusted to the Veterans Association, the Bank for Social Policies continues to coordinate with associations at all levels, savings and loan groups to effectively carry out policy communication work; focusing on professional training for commune-level trust associations, savings and loan groups.

At the same time, the bank continues to coordinate and review cases to provide loans in accordance with regulations, prioritizing the review of typical economic models, OCOP facility owners... who need to borrow capital to organize review meetings, complete loan documents, and disburse promptly; continue to coordinate to urge and promptly handle overdue debts to improve the quality of credit entrusted through the veterans' association.

Source: https://baohatinh.vn/hoa-giai-bai-toan-nguon-von-phat-trien-kinh-te-cho-cuu-chien-binh-post286747.html