Promoting the effectiveness of preferential loan sources

To motivate members to develop the economy and reduce poverty sustainably, the Provincial Women's Union has done a good job of managing preferential loans from credit institutions for members to borrow for production. Through the organization, many women, especially poor members in difficult areas, have access to safe financial resources and develop effective livelihood models.

Provincial Women's Union officials propagate to ethnic minority women members who borrow capital to comply with regulations on using loan capital effectively and for the right purpose.

The whole province has 75 Women's Unions in communes and wards, with 2,233 branches and women's union groups, and more than 210,000 members. To help women access preferential loans, develop the economy , and expand production models, the whole province maintains 960 savings and credit groups (S&L) of the Social Policy Bank, with more than 31,000 borrowing households, total outstanding loans of more than 1,800 billion VND; 98 S&L groups of the Bank for Agriculture and Rural Development, with nearly 3,000 borrowing households, total outstanding loans of more than 300 million VND. Since the beginning of the year, women's unions at all levels have organized more than 30 specialized training conferences for grassroots union officials, union members and members of S&L groups. In particular, they propagate and disseminate the Party and State's policies and guidelines on social policy credit, support women in economic development, and sustainable poverty reduction.

Social Policy Bank staff trained loan capital management for savings and loan group leaders.

The Women's Union of Bon Nghe sub-area, Thuan Chau commune is maintaining a Savings and Credit Group with 45 members and a debt of 2.8 billion VND. Households mainly borrow to create jobs and invest in production development. Ms. Luong Thi Banh, Head of the Women's Union of Bon Nghe sub-area, said: Every year, I participate in training courses organized by the Provincial Women's Union in coordination with the Bank for Social Policies. Through that, I have a firm grasp of the Government 's preferential credit policies and programs, and the skills to manage the Savings and Credit Group to promote members to use capital for the right purposes and effectively.

The family of Vu Thi Xi, It Ta Bot village, Muong Chien commune is a poor household in the commune. In 2020, with the guidance of the Women's Union of the village, she borrowed 100 million VND from the Social Policy Bank to build solid barns to develop livestock farming. Ms. Xi said: From the preferential loan, my family bought more buffaloes and cows to raise. Currently, the family has 8 buffaloes and cows and grows grass for animal feed. Each year, 2 to 3 buffaloes are sold, helping to significantly improve the family's income.

The heads of the TK and VV groups participated in training on loan capital management.

From preferential loans, women's union members in the province invest in developing fruit trees, raising livestock with high economic value in the direction of farms, developing tourism and traditional industries, investing in business services... At the same time, policy capital also encourages and motivates members to start businesses, establish cooperatives or change production and business forms. The whole province has 203 cooperatives with many economic models in agriculture , trade services, tourism, small-scale industry... owned by women, bringing high economic efficiency, creating jobs for local workers, especially female workers. By 2025, women's union members at all levels in the province strive to help 204 women members escape poverty.

Ms. Quang Thi Van, Permanent Vice President of the Provincial Women's Union, said: The Union directs the grassroots associations to coordinate with the staff of the Social Policy Bank and other credit institutions to do a good job of inspecting and supervising the activities of savings and credit institutions; reviewing and lending to the right subjects; effectively managing loan sources, ensuring that members pay interest and principal on time. Strengthening the grasp of the situation at the grassroots level to resolve arising problems, in which, paying attention to households facing financial difficulties when facing natural disasters, leading to the inability to repay debts on time to guide timely debt extension procedures or handling risks according to regulations.

Women's Union members of Thuan Chau commune raise livestock.

In the coming time, women's unions at all levels will continue to effectively manage capital sources to support women's economic development; maintain and expand savings models to support women in starting businesses; and implement activities to help poor households headed by women. At the same time, improve the capacity of union officials and savings and credit team leaders, coordinate in organizing training courses to transfer production techniques to women union members..., actively accompany union members in economic development and sustainable poverty reduction.

Source: https://baosonla.vn/thuong-mai-dich-vu/phat-huy-hieu-qua-nguon-von-vay-uu-dai-xo3kKEkvg.html