Preferential capital helps women escape poverty

Over the years, the Provincial Women's Union has done a good job of managing entrusted loans from the Social Policy Bank. Bringing policy credit capital to poor women to expand production and business, helping members gradually escape poverty.

Propagating social credit policy for members and women of Muong Bu commune, Muong La district.

Ms. Vi Thi Binh, Vice President of the Provincial Women's Union, informed: Women's unions at all levels in the province focus on propagating and disseminating the Party and State's policies and guidelines on social credit, and regulations of the Bank for Social Policies on lending to poor households and policy beneficiaries to women union members and the people.

The association has well implemented the contents of the agreement signed in the joint document between the provincial branch of the Bank for Social Policies. Up to now, the provincial women's associations at all levels have established 951 savings and loan groups, with a total outstanding loan balance of over VND 1,800 billion for over 31,600 association members and poor women. Of which, the number of savings and loan groups operating well and fairly accounts for 98.75%; the overdue debt rate accounts for 0.003%.

The Women's Union of Nang Phai village, Muong Bu commune, Muong La district, has been one of the grassroots units that has effectively implemented the policy credit loan entrustment activities for many years. The union has 2 savings and loan groups with 54 members. The main needs of households are capital for job creation, clean water and sanitation programs in rural areas... The current total outstanding debt is more than 2.3 billion VND.

Grassroots women's union officials participate in training on lending procedures organized by the Provincial Women's Union.

Ms. Lo Thi Thoa, a member of the Savings and Loan Group in Nang Phai village, Muong Bu commune, Muong La district, shared: In early 2024, my family was given the opportunity by the Women's Union to access a loan of 50 million VND from the District Social Policy Bank Transaction Office. I invested in raising cows, opening a way out of poverty for my family.

Currently, the Women's Union at all levels in Thuan Chau district is pledging more than 201 billion VND with the District Social Policy Bank Transaction Office, lending preferential loans to over 4,500 member households and women. In addition, the Union at all levels also mobilizes members to participate in savings models of 5,000 VND/member/month, with a total savings of over 5 billion VND, with over 31,000 members participating, helping 540 members borrow to develop their family economy . Ms. Luong Thi Thanh Thuy, Chairwoman of the District Women's Union, said: The Union regularly coordinates with the District Social Policy Bank Transaction Office to inspect 135 savings and loan groups, urge borrowers to repay interest and principal on time, and guide borrowers to use capital effectively.

The good management of preferential loans from the Vietnam Bank for Social Policies has brought about positive results. In addition to directly supporting poor households and other policy beneficiaries, the capital from the Vietnam Bank for Social Policies has also made an important contribution to the completion of new rural criteria in the locality. Many loans have been used to build and upgrade clean water and rural environmental sanitation facilities; and develop sustainable production models. The most obvious effect is that the number of poor households has decreased significantly over the years.

Women's Union members of Chieng Den commune, City, invest in goat farming from preferential loans from the Bank for Social Policies.

To promote loan capital more effectively, women's associations at all levels in the province continue to effectively and qualitatively implement social credit programs, ensuring that policy credit capital is transferred to the right beneficiaries, used for the right purposes and fully repaid when due; coordinate inspection, supervision and guidance on lending procedures, loan management, debt settlement, consolidation and improvement of credit quality... in communes and wards according to the arrangement of 2-level local authorities. Develop competition criteria in entrustment activities, coordinate assessment and classification of savings and loan groups; reward collectives and individuals who do well in the entrustment program content, contributing to the implementation of poverty reduction goals, job creation, and ensuring social security in the locality.

Source: https://baosonla.vn/kinh-te/nguon-von-uu-dai-giup-phu-nu-thoat-ngheo-qTpHQsEHg.html