• Working together for sustainable poverty reduction.
  • Sustainable poverty reduction strategies
  • Allocate resources appropriately for sustainable poverty reduction.

Mr. Tran Thanh Bien, Director of the Social Policy Bank Branch in U Minh District, commented: "The social policy credit programs in the area provide loans to the right beneficiaries. As a result, people have invested in many production and business models that develop in line with the district's overall direction, making a significant contribution to the goals and tasks of poverty reduction, economic development, and ensuring social security in the locality."

The above results were achieved thanks in no small part to the advisory and operational guidance of the District Branch of the Vietnam Bank for Social Policies. The branch proactively advised the local Party committee, government, and the Board of Directors on implementing directives and resolutions of the Party and Government , such as Directive 40-CT/TW dated November 22, 2014, and Conclusion No. 06-KL/TW dated June 10, 2021. As a result, the implementation of social policy programs has been highly effective.

In addition to advising the District People's Committee on issuing specific plans, the Branch Office of the Vietnam Bank for Social Policies (VBSP) organizes emulation movements in managing VBSP funds, creating strong motivation to achieve poverty reduction and economic development goals. Furthermore, regular inspection and supervision activities help ensure that VBSP programs are implemented correctly and effectively.

For example, the couple Ngo Phong Cuu and Le Thi Be Sau, from Hamlet 3, U Minh town, invested 80 million VND from the Social Policy Development Fund in crocodile farming. Currently, they earn a profit of approximately 60 million VND per year. In addition, they have expanded their production model by renting land to raise shrimp, further improving their family income.

Mr. Ngo Phong Cuu shared: "My family didn't own any land before, so I worked as an excavator. Then, thanks to a policy loan, I invested in crocodile farming, which helped develop our economy. From there, I gradually saved up to buy land and expand my farming. Now, my family's life is much more stable."

With over 3 hectares of land planted with trees, bananas, rice, etc., Mr. Huynh Thanh Hung, from Hamlet 7, Khanh Lam Commune, borrowed 45 million VND from the Community Development Program to support households engaged in production and business in disadvantaged areas. Mr. Hung invested in planting banana trees, earning over 200 million VND annually from selling bananas and banana blossoms. In addition, Mr. Hung also invested in pig farming. Thanks to his hard work and the support from the Community Development Program, Mr. Hung has been able to afford to send his children to university.

Mr. Huynh Thanh Hung (right in the photo) borrowed capital from the State Credit Fund to invest in banana cultivation, which provides him with a stable income.

Mr. Huynh Thanh Hung (right in the photo) borrowed capital from the State Credit Fund to invest in banana cultivation, which provides him with a stable income.

Ms. Huynh Ut Nho, from Hamlet 3, U Minh town, borrowed 80 million VND from the employment program to build a pond for raising rat snakes and mud crabs. Each year, she earns over 100 million VND from selling snakes. Currently, she is raising over 500 rat snakes. Ms. Ut Nho shared: "Raising snakes is simple; it only costs time to build the pond and buy the initial breeding stock. The rest of the care and harvesting are quite easy. This model provides a stable income."

The model of raising giant water snakes, funded by a loan from the TDCS (Trade and Development Bank of Vietnam), by Ms. Huynh Ut Nho (second from the right).

The model of raising giant water snakes, funded by a loan from the TDCS (Trade and Development Bank of Vietnam), by Ms. Huynh Ut Nho (second from the right).

Savings and loan groups are likened to an extended arm, bringing grassroots credit funds to every household. The entire district has 284 savings and loan groups, gradually improving the quality of their operations; thereby, the grassroots credit funds are being utilized effectively.

Ms. Huynh Cam Anh, Head of the Savings and Credit Group in Hamlet 3, U Minh town, currently manages 28 borrowing households with a total outstanding debt of 1.7 billion VND. The borrowers mainly invest in shrimp farming, small-scale trading, and livestock breeding... all of them pay interest on time and make regular savings. The group has no overdue debts.

Social credit programs in U Minh district have achieved positive results, making a significant contribution to poverty reduction and economic development in the locality. These programs not only help people improve their lives but also promote production development and increase income. The management and supervision of funds are carried out strictly, in coordination with socio- political organizations, resulting in tangible effectiveness.

Mr. Tran Thanh Bien stated: "The District Social Policy Bank continues to direct its staff to actively monitor the area, advising the commune-level People's Committees to review and verify eligible beneficiaries of credit programs. Village heads participate fully in supervision from the loan approval stage at savings and loan groups; organize timely disbursement of credit programs, ensuring that 100% of eligible customers who meet the loan conditions and have a need for loans receive capital suitable to their investment plans, aiming for sustainable poverty reduction and long-term economic development for the people."

By the end of 2024, the total outstanding balance of socio-economic development loans in U Minh district reached VND 476.994 million, an increase of 6.6% compared to the beginning of the year. The management and use of socio-economic development loan funds were strictly implemented, ensuring that support was provided to the right beneficiaries and served the goals of economic development and improving people's lives.

Hong Phuong

Source: https://baocamau.vn/don-bay-xoa-ngheo-a37458.html