Improving the efficiency of policy credit capital

Disbursement of policy credit capital at Quang Hung commune transaction point.

Efficiency from policy capital

Mr. Tran Long Nguyen was present early at the Quang Hung commune transaction point in the first transaction session after the commune merger to pay both principal and interest to the Phu Cu Social Policy Bank Transaction Office. Mr. Nguyen shared: After many years of receiving loans from the bank along with our own capital, my wife and I have successfully built a VAC farm growing hundreds of longan trees, raising snakes, chickens, ducks, fish... By planting and raising the right trees and animals with high economic value, meeting market demand, and following the techniques, longan crops are always good, with high productivity, and animals on the farm are healthy, grow fast, and are easily consumed. Up to now, the farm has a stable income of hundreds of millions of dong each year. My family has planned enough capital to rotate and pay 150 million dong in principal and interest to the bank. Bank staff committed that when the family registers through the savings and loan group (TK & VV), they will be given a loan according to regulations.

With a loan of 150 million VND from the Phu Cu Social Policy Bank Transaction Office, Ms. Nguyen Thi Phuong in Doan Dao commune converted 3 hectares of ineffective rice fields to growing longan and lychee for high economic efficiency. Ms. Phuong said: Before, my family grew rice, so our income was low and life was difficult. To escape poverty and get rich, my husband and I decided to "give up rice" and grow a garden, but the biggest difficulty at that time was the lack of capital for production. Thanks to the connection of the Commune Women's Union, I was given a loan by the Phu Cu Social Policy Bank Transaction Office to implement the project. At first, I grew longan, then I saw that lychee had a higher economic value, so I boldly expanded the area to over 3 hectares, growing 360 longan and lychee trees, of which 60% were lychee trees. Lychee with its bright appearance, thin skin, thick flesh, small seeds, and sweet aroma is sought after by many gourmets despite its very high price of 100,000 - 120,000 VND/kg, 3 - 4 times higher than the price of longan and other lychees. Every year, after deducting expenses, Mrs. Phuong's family earns 350 - 500 million VND from gardening, creating jobs for 3 - 4 local workers with a daily wage of 500,000 VND/person. The bank not only provides loans but also motivates Mrs. Phuong's family to strive to overcome difficulties and become a typical example of good economic performance in the locality.

Mrs. Nguyen Thi Phuong's family in Doan Dao commune earns 350 - 500 million VND/year from growing longan and lychee.

Help reduce poverty sustainably

Over the past decades, social credit has become a bright spot, a pillar in the poverty reduction policy system, ensuring social security, meeting the aspirations of the people, especially the poor and vulnerable groups in society, contributing to reducing "black credit". Up to now, the credit programs of the Phu Cu Social Policy Bank Transaction Office have been deployed to 100% of villages in the area of 4 newly merged communes: Doan Dao, Quang Hung, Tien Tien and Tong Tran. Total outstanding debt as of June 30 reached nearly 460 billion VND, overdue debt accounted for only 0.05% of total outstanding debt. In the first 6 months of the year, the loan capital has helped 12 poor, near-poor and newly escaped poverty households to have capital to develop the economy; created new jobs for 348 workers; had more than 700 clean water and rural environmental sanitation works; 144 disadvantaged students were "supported" to go to school, 6 households have new houses to live in. Mr. Nguyen Xuan Tinh, Director of Phu Cu Social Policy Bank Transaction Office, said: To ensure that disbursement, debt collection, interest collection... activities take place smoothly, promptly, and effectively after the merger and operation of the two-level government, the Transaction Office continues to entrust loans through 196 savings and credit groups of socio -political organizations, maintaining the stability of 13 transaction points at the old commune People's Committee, the transaction schedule is kept the same as before, ensuring maximum convenience for people when coming to transact, avoiding having to travel far or change financial living habits. The Transaction Office publicizes preferential credit mechanisms and policies, lists of borrowers, documents, and procedures to facilitate inspection and supervision by the government and people; at the same time, closely coordinate with the People's Committees of communes to facilitate customers in confirming loan documents and authorization procedures. In addition to maintaining TDCS management applications on smartphones, the Transaction Office is implementing the opening of member accounts at banks to move towards cashless transactions and improve customer service quality.

Staff of Phu Cu Social Policy Bank Transaction Office visited and checked the use of loan capital at the lychee garden of customers.

With the determination to leave no one behind on the journey of poverty reduction and household economic development, Phu Cu Social Policy Bank Transaction Office always strives to improve the effectiveness of credit programs. Many poor households and policy beneficiaries have used the preferential capital for the right purposes, effectively promoting the effectiveness of preferential capital, contributing to improving income and stabilizing life.

Source: https://baohungyen.vn/nang-cao-hieu-qua-von-tin-dung-chinh-sach-3183118.html