Preferential capital helps many farmers increase income

Mr. Ngan Van Ut (middle) introduces his family's fruit garden. Photo: T.Thu

To improve policy effectiveness, Thong Nhat district and related organizations have strengthened lending solutions to ensure that all eligible people with loan needs can receive loans with preferential interest rates.

Change thanks to preferential loans

In 2021, Mr. Nguyen Duc Huy's family (residing in Hamlet 2, Lo 25 Commune) was granted a loan of 50 million VND from the District Social Policy Bank to convert more than 0.6 hectares of land specializing in growing vegetables to growing coconuts. By early 2025, he was considered for a loan of 100 million VND to invest in production. Currently, the coconut garden has begun to bear fruit, and it is estimated that the first crop will bring in more than 100 million VND; the profit will increase as the coconut trees grow larger. This amount is much higher than growing vegetables before.

According to Mr. Huy, thanks to timely access to preferential loans, his family was able to change crops, thereby improving the efficiency of household economic production and life has changed a lot.

Mr. Ngan Van Ut (residing in Hamlet 2, Lo 25 Commune) said that in 2024, his family's 6-year-old Thai rambutan garden will generate an income of nearly 200 million VND/hectare. This result is thanks to the fact that in 2019, his family had access to preferential loans from the District Social Policy Bank and in 2024, his family received a loan of 100 million VND from the District Social Policy Bank to invest in installing a water-saving irrigation system, increasing productivity, quality, and reducing labor. Mr. Ut estimates that this year's rambutan harvest could reach over 15 tons of fruit, an increase of nearly 5 tons compared to last year.

“Thanks to the loan from the District Social Policy Bank, my family has capital to invest in production. I pay this capital back gradually with low interest rates, so my family is very secure. If we borrow at high interest rates from other sources, it will be very difficult,” Mr. Ut added.

Along with loans from the Social Policy Bank, the locality also implemented other capital support programs for local people, especially farming households. Recently, on April 29, 7 farmer members in Gia Tan 3 commune were awarded VND 500 million by the Provincial Farmers' Association in coordination with the Thong Nhat District Farmers' Association under the Vegetable and Flower Growing Project with preferential interest rates. Previously, in March 2025, 5 farmer members of Quang Trung commune were given a loan of VND 400 million. Thanks to the province's loan, members have more funds to buy fertilizers, agricultural supplies, and seeds earlier, thereby reducing input costs and increasing income.

Enhance lending solutions

According to Mr. Tran Duc Tien, Director of the Transaction Office of the Social Policy Bank of Thong Nhat District, the unit has advised the district to implement synchronous solutions to improve credit quality in order to use capital effectively. From there, it creates conditions for poor and near-poor households and other policy beneficiaries who have the need and meet the prescribed conditions to borrow preferential loans to invest in production and business organization. Preferential capital helps farmers develop organic agriculture and high-tech agriculture.

In the first quarter of 2025 alone, the Transaction Office of the Social Policy Bank of Thong Nhat District disbursed loans to over 760 households with an amount of nearly 46.6 billion VND (an increase of nearly 14 billion VND compared to 2024). The total outstanding loan balance by the end of the first quarter of 2025 was nearly 490 billion VND, with nearly 9.9 thousand households borrowing.

Vice Chairman of the District People's Committee, Head of the Board of Directors of the Thong Nhat District Social Policy Bank Nguyen Dinh Cuong said that in recent times, the district has implemented solutions to improve the effectiveness of social policy credit, in line with the development orientation of the locality; at the same time, synchronously implementing solutions to improve credit quality to create favorable conditions for the poor, policy beneficiaries and people to learn about and access preferential capital sources. The locality's goal is that 100% of poor households, near-poor households and other policy beneficiaries who have the need and meet the prescribed conditions can borrow social policy credit to organize production, business and serve essential needs in life.

According to Vice Chairman of Thong Nhat District People's Committee Nguyen Dinh Cuong, it is important to review, manage and lend to the right subjects. Ensure that 100% of eligible households with needs have access to social policy credit loans. At the same time, strengthen propaganda on policy credit, inspect, supervise, and coordinate to support people with effective production and business plans.

Van Gia - Tien Thu

Source: https://baodongnai.com.vn/kinh-te/202505/nguon-von-uu-dai-giup-nhieu-nong-dan-tang-thu-nhap-9cb390b/