Ms. Ho Thi Luc's family (of the Xo Dang ethnic group) was previously a poor household in Hamlet 3, Tra Linh Commune, Nam Tra My District. Through the Tra Linh Commune Farmers' Association, in April 2022, Ms. Luc's family received a loan of 100 million VND from the Social Policy Bank branch in Nam Tra My District to plant 350 Ngoc Linh ginseng plants on their family's forest land.
By the end of 2023, Ms. Luc's family's Ngoc Linh ginseng garden was producing seeds and leaves for sale, creating a stable source of income. In addition, she also invested in a grocery store to provide essential goods for the local people.
By November 2023, her family borrowed an additional 70 million VND from the Social Policy Bank branch in Nam Tra My district to plant 200 more Ngoc Linh ginseng plants and expand their grocery business.
“To date, my family has a stable income of 120 million VND per year. I always encourage other households to access policy-based loans to develop their economy ,” said Ms. Luc.
In March 2024, Ms. Luc was elected Head of the Savings and Loan Group in Tra Linh village and actively promoted and guided villagers to confidently borrow policy loans for production.
Since then, many households in Tra Linh commune have effectively utilized preferential loans, such as the family of Mr. Ho Van Ky, who has over 100 4-5 year old Ngoc Linh ginseng plants; and the household of Mr. Ho Van Lieu, who has over 200 3-5 year old Ngoc Linh ginseng plants…
Currently, the Savings and Loan Group managed by Ms. Luc has 49 borrowing households, with a total loan amount of 2.8 billion VND. The group has no overdue debts, and all 49 participating households make monthly savings deposits, totaling 84 million VND to date.
According to Mr. Nguyen Van Hien, Director of the Social Policy Bank branch in Nam Tra My district, as of June 30th, the unit has outstanding loans of nearly 243.2 billion VND across 13 loan programs, with 4,951 households borrowing capital for business purposes.
"Policy-based capital in Nam Tra My has grown rapidly. The effectiveness of loan capital has been demonstrated, supporting poor households and production development policies. As a result, poverty reduction efforts have been implemented more practically," Mr. Hien said.
In Bac Tra My district, 18 preferential credit programs are being implemented, including loans for poor households, near-poor households, newly-escaped-from-poverty households, production and business in difficult areas, and job creation support... The total outstanding policy credit in Bac Tra My as of June 30th is over 579.7 billion VND with 8,352 households still having outstanding loans.
Mr. Tran Van Quang, Director of the Social Policy Bank branch in Bac Tra My district, said: "Directive 40 has truly become deeply ingrained in people's lives."
Party committees, government agencies, and the Fatherland Front at all levels have enhanced their roles and responsibilities in implementing and supervising social activities related to policy credit, contributing to the successful achievement of poverty reduction goals, job creation, new rural development, socio-economic development in ethnic minority and mountainous areas, and ensuring social security.
Source: https://baoquangnam.vn/nguon-luc-phat-trien-kinh-te-vung-cao-quang-nam-3137289.html
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