Lao Cai: Farmer Support Fund helps people escape poverty

From a lack of capital, many farming households in Van Chan commune, Lao Cai province now have a solid "leverage" from loans from the Farmers' Support Fund to boldly change their economic practices, rise up to escape poverty and become rich.

Unlike commercial credit channels, the Farmers Support Fund offers loans with simple procedures and preferential interest rates, suitable for farmers in the highlands. Thanks to that, farmers have boldly changed their production mindset, from fragmented to concentrated, bringing more efficiency.

In 2023, the Farmers' Association of Van Chan commune created conditions for 10 households in Thac Hoa village to borrow 50 million VND/household from the Farmers' Support Fund to plant lacquer trees (an industrial tree for resin, the selling price of lacquer resin ranges from 200,000 - 210,000 VND/kg). After more than 2 years of implementing the project, the households planted 20 hectares of lacquer trees and harvested resin.

In addition to the lacquer tree planting project, the Commune Farmers' Association also disbursed the Farmers' Support Fund for a project on breeding cattle and buffaloes, supporting 3 households with a loan of 40 million VND/household; 2 cinnamon planting projects, with 8 households participating, with a loan of 30 - 37 million VND/household in Tap Lang village...

Loans from the Farmer Support Fund have given Van Chan farmers the confidence to take charge of their lives. Each successful model is not only a family's story, but also a testament to the effectiveness of the policy, a source of inspiration for other farming households to continue writing stories of life-changing events on their homeland.

Source: https://bvhttdl.gov.vn/lao-cai-quy-ho-tro-nong-dan-giup-nguoi-dan-thoat-ngheo-20251101193212902.htm