Through the method of entrusted lending through socio- political organizations, in recent times, the Vietnam Bank for Social Policies (VBSP) Quang Ninh branch has actively coordinated with units to effectively implement credit programs, bringing capital to the hands of each person, contributing to promoting economic development.
As one of the four socio-political organizations receiving the trust in the province, based on the contents and terms signed with the Bank for Social Policies, Quang Ninh branch, the Provincial Women's Union has directed the Women's Unions at all levels and bases in the whole province to strictly implement joint documents, trust contracts, and authorization contracts. Based on the reality, the Women's Unions at all levels have proactively coordinated with the Bank for Social Policies to drastically implement solutions to well manage the outstanding entrusted debt, reduce overdue debt and remaining interest; mobilize borrowers to deposit savings; closely inspect and supervise the coordination in implementing the lending process, the collection of interest and savings by group leaders, the use of capital by borrowers; consolidate and improve the Savings and Loan Groups (TK&VV).
In order to ensure that loans are given to the right subjects, purposes, and effectively, the Women's Union at all levels also closely coordinates to promptly handle cases of borrowing, delayed debts, overdue debts, borrowers leaving their place of residence, and at the same time, guides borrowing households to prepare documents to request handling of risky debts due to objective reasons... Thanks to that, female members in the province have accessed information, boldly borrowed capital, proactively implemented models, developed the economy , increased income, and gradually got rich on their homeland. Up to now, the Provincial Women's Union is managing over 2,316 billion VND of total outstanding debt of 35,421 borrowing households with 1,012 Credit quality has improved with debt ratio now at only 0.01%.
Ms. Vu Thi Lan, Dong Y village, Viet Dan commune, Dong Trieu town, said: Through the Commune Women's Union, in 2022, I was approached, guided, and completed the loan application for the preferential credit program for job creation of the Dong Trieu Town Social Policy Bank. With the 100 million VND borrowed, I invested, renovated, fertilized, and expanded the area for growing Dien grapefruit. My family's Dien grapefruit garden currently has 1,000 trees, with many fruits, good quality, and a rich sweetness, so it is often traded. Drive to the garden to buy, bring stable income, revenue of 200 million VND/year. I hope to continue to receive attention from the Commune Women's Union and the bank, creating conditions for borrowing more capital to expand the grapefruit garden.
In order to improve the effectiveness of the trust activities, the Bank for Social Policies, Quang Ninh branch and transaction offices have signed joint documents or trust contracts with political and social organizations at the same level. On that basis, the two sides coordinate to effectively implement the trust contents such as: Fully and promptly disseminating the regulations of each preferential credit program so that people know, access capital sources, use loans and are responsible for repaying debts when due; publicly evaluating and evaluating the right subjects; enhancing responsibility in participating in the activities of the Savings and Credit Group to supervise loan evaluation, transaction sessions, use of loans, and instructing borrowers to use capital effectively in conjunction with programs and projects.
In addition, the Bank also coordinates with socio-political organizations to regularly organize quality assessment of entrusted activities, training to improve professional qualifications, disseminate credit programs and directives of the Central and provincial governments, conduct special or surprise inspections to promptly correct shortcomings. Thereby, the coordination of entrusted activities is increasingly close, synchronous and effective.
To prevent capital embezzlement, the inspection and supervision work of the Association and the entrusted organizations at all levels is carried out regularly and in depth, gradually bringing the entrusted activities into order. In the past 10 years, the Association and the entrusted organizations at all levels have proactively carried out 724 inspections at the district level, 9,843 at the commune level, 37,014 at the group level and 342,176 at the borrowing households.
The entrusted lending method has connected the Bank - Government - Associations, organizations - Savings and Loan Groups to join hands to help the poor and policy beneficiaries; strengthen the organization of associations and organizations; reduce management costs; bring capital to people in a timely, effective, right purpose, right target, publicly and transparently. At the same time, it contributes to gathering forces, increasing the number of members, improving the quality of the movement. Up to now, the total outstanding debt entrusted through 4 socio-political organizations has reached 4,887.4 billion VND, accounting for 99.5% of the total outstanding debt of the bank with 2,132 Savings and Loan Groups, 73,939 borrowers with outstanding debt. Notably, overdue debt is 0.74 billion VND, accounting for 0.015% of the total outstanding debt entrusted. Thanks to that, the whole province no longer has poor households according to the Central poverty standards, and the new poverty standard (2023-2025 period) is 1.4 times higher than the Central poverty standard in terms of income criteria, with average income per capita in communes and towns of ethnic minorities, mountainous, border and island areas of the province reaching nearly 74 million VND/person/year.
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