Thai Nguyen farmers escape poverty thanks to preferential credit from the Social Policy Bank

Efficiency from preferential loans

Over the past 7 years, the Farmers' Association of Dong Hy district ( Thai Nguyen province) has actively coordinated with the district's Social Policy Bank in disbursing preferential loans and achieved many results.

As of August 31, 2024, Dong Hy District Farmers' Association is managing 80 savings and loan groups in 15 communes and towns with outstanding loans of VND 184,400 million for 3,864 farmer households.

Many farmer members have used preferential loans from the Social Policy Bank to expand production. Photo: Ha Thanh

According to Mr. Dang Ngoc Hieu - expert of Dong Hy District Farmers' Association: Regarding the capital source of the Social Policy Bank, there are many different loan programs, however, currently the most necessary capital source for farmer members to develop the economy is the loan source to create jobs. The capital source of the Policy Bank has a long loan period, low preferential interest rates, and is easy for people to access, creating many favorable conditions for people.

With that capital, many members and farmers have actively expanded production, invested in machinery, applied advanced science and technology, helping members develop the economy, escape poverty and get rich on their homeland. From there, it helps to improve people's income and life, contributing to the development of the district in building new rural areas.

Farmers use preferential loans for the right purposes

According to Mr. Dang Ngoc Hieu, through the activities of the savings and loan group, more and more members have been gathered to participate in the Association, contributing to the building of an increasingly strong Association, as well as strengthening trust, solidarity, actively supporting each other in life, helping members to be more attached to the Association.

Ms. Vu Thi Nghi (Quang Trung hamlet, Nam Hoa commune, Dong Hy district, Thai Nguyen province) said: “My family is currently borrowing capital from the Dong Hy district Social Policy Bank with an amount of 50 million VND. After 3 years of using the loan, my family has gradually developed the family economy effectively. With preferential interest rates and easy access to capital, I hope that in the near future I will be able to borrow more capital to create jobs to expand the store.”

Mr. Ha Duc Chung's family (Van Huu residential group) is a large-scale production and livestock household in Hoa Thuong town, Dong Hy district with 20,000 white chickens. In 2024, his family borrowed 100 million VND in preferential loans from the Dong Hy District Social Policy Bank.

With a preferential loan of 100 million VND from the Dong Hy District Social Policy Bank, Mr. Ha Duc Chung's family has improved production efficiency. Photo: Ha Thanh

“Although the capital source has not yet met the demand, it has contributed to my family’s efforts to improve production efficiency. I hope that in the future, the Dong Hy District Social Policy Bank will provide more support to business households like us so that we can have better conditions to develop production,” Mr. Chung shared.

Ms. Nguyen Thi Nho (Van Huu residential group, Hoa Thuong town, Dong Hy district, Thai Nguyen province) is both a farmer member who received loans to develop production and the head of the Savings and Loan Group.

According to Ms. Nho, before accessing loans from the Dong Hy District Social Policy Bank, her family mainly grew tea and rice. When she was able to borrow 50 million from the Social Policy Bank, her family invested in growing bamboo roses, thereby helping to increase the family's income.

With a loan of 50 million VND from the job creation fund, Ms. Nguyen Thi Nho's family (Van Huu residential group, Hoa Thuong town, Dong Hy district, Thai Nguyen province) has invested effectively in growing bamboo-skin roses. Photo: Ha Thanh

As the Head of the Farmers' Association of Van Huu Residential Group, Ms. Nho said: "Currently, the association has 157 farmer members. Along with accessing other capital sources, since accessing preferential loans from the District Social Policy Bank, for about 2-3 years now, the association has had no poor or near-poor households. However, the demand for loans from the people is still very large, so we hope that the competent authorities will continue to pay attention and create conditions for lending more capital to solve employment problems so that people have more capital to develop production, solve labor problems and increase income."

Talking to PV Dan Viet, Mr. Lam Van Duc - Chairman of the Farmers' Association of Hoa Thuong town said: Implementing the entrustment of the Social Policy Bank of Dong Hy district, the Farmers' Association of Hoa Thuong town also regularly focuses on propagating to cadres and farmer members in the area about policies as well as credit policies related to the Social Policy Bank.

Up to now, the Farmers' Association of Hoa Thuong town is managing 6 Savings and Loan Groups with outstanding loans of over 9 billion VND for 262 households.

“Basically, households when borrowing capital strictly comply with policies and guidelines related to borrowing capital, and at the same time use the loan capital for the right purpose. It can be said that, up to now, the capital of the Social Policy Bank has contributed to the economic development of households in particular and the locality in general. Not only that, it also helps to solve employment, helping many poor and near-poor households to escape poverty” – Mr. Duc informed.

Source: https://danviet.vn/nong-dan-thai-nguyen-thoat-ngheo-nho-nguon-tin-dung-uu-dai-tu-ngan-hang-chinh-sach-xa-hoi-20240926222446245.htm