Cao Phong Social Policy Bank Transaction Office: Unblocking preferential capital flow

Over the years, preferential capital from the Vietnam Bank for Social Policies (VBSP) has accompanied farmers in communes in Cao Phong district (old) in developing family economy, creating jobs for rural workers, increasing income, and improving living standards. Thereby, gradually improving the quality of life, actively contributing to the implementation of the national goal of sustainable poverty reduction, building new rural areas, and ensuring social security in the area.

After the merger, the Cao Phong Social Policy Bank Transaction Office is in charge of 3 communes: Cao Phong, Muong Thanh and Thung Nai. Carrying out the task of providing preferential loans for capital programs for poor households and other policy households, the Transaction Office has effectively implemented loan programs in the past time. Most of the poor and policy subjects who have needs and meet the conditions are able to borrow preferential loans conveniently, promptly investing in production and business development.

Staff of the Cao Phong Social Policy Bank Transaction Office collects debts from savings and loan groups at the Muong Thanh 2 transaction point.

Before 2020, Mr. Bui Van Tinh's household in Dung Tien hamlet, Muong Thang commune was a poor household in the commune for many years. Previously, the whole family only relied on corn fields and small-scale livestock farming, so poverty continued to cling to them. Since his family had access to policy capital, their lives have gradually stabilized and gradually escaped poverty. Up to now, his family still has a debt of 77 million VND, of which 20 million VND is from the clean water and environmental sanitation program to invest in building water tanks and sanitation works to improve the quality of life and 57 million VND is from the employment program to invest in buffalo farming to develop the family economy . Up to now, his family has paid interest in full every month and participated in saving money through the group.

Or Ms. Bui Thi Tam's household in Dong Nhat hamlet borrowed 50 million VND from the near-poverty program to invest in planting acacia trees, and now the acacia hills are growing well. Mr. Tinh's household and Ms. Tam's household are just two of thousands of households using the loan capital for the right purpose and effectively in Cao Phong commune.

From preferential loans from the Vietnam Bank for Social Policies, people invest in livestock farming to develop their family economy.

Immediately after the administrative arrangement, the Cao Phong Social Policy Bank Transaction Office continued to maintain 10 transaction points, including 6 transaction points located at the headquarters of the People's Committees of the old communes, 4 transaction points located at the cultural houses of hamlets and communes. The organization of transaction schedules is carried out on a fixed monthly basis. To effectively carry out lending, the transaction office has closely coordinated with associations and unions to organize propaganda work at the grassroots level.

In particular, focusing on perfecting savings and loan groups, regularly improving capital management capacity for group leaders. Since then, associations, savings and loan groups in villages, hamlets, and residential areas have promoted their entrustment role well, being the bank's right-hand man in implementing propaganda and capital management at the grassroots level. Especially in the evaluation of loan subjects, associations participate with localities in evaluation, ensuring democracy, fairness and correct subjects.

The whole district has 187 savings and loan groups, with the lending method entrusted through 4 socio-political organizations. In implementing loans, the bank not only ensures the correct banking procedures, pays attention to propagating policies to the people, transferring capital to those who need capital, but also pays special attention to how to use capital effectively. Therefore, in the lending process, bank staff also coordinate with social organizations, closely following local conditions and loan purposes to both guide, orient and check the capital use process.

Through transaction activities at the commune level, the bank has organized meetings with local Party committees, authorities, associations, and unions, as well as the Management Boards of Savings and Loan Groups, and has also organized propaganda to help officials and people better understand the activities of the Vietnam Bank for Social Policies and the new policies and guidelines on preferential credit of the Party and the State.

Credit officers of the Cao Phong Social Policy Bank Transaction Office regularly propagate new policies on preferential credit of the State to the leaders of the Savings and Loan Groups.

Currently, the Cao Phong Social Policy Bank Department implements 16 preferential credit programs, with a total outstanding debt of over 501 billion VND with 7,174 households still in debt. Of which, Thung Nai commune has a debt of 117 billion VND, Cao Phong commune has a debt of 173 billion VND, and Muong Thanh commune has a debt of 211 billion VND. Among the credit programs, the job creation loan program has the highest outstanding debt of over 162 billion VND. Borrowers mainly invest in cattle breeding, acacia planting, and fruit tree planting. Through assessment, all borrowers use the loan for the right purpose and promote efficiency.

Director of the Transaction Office of the Social Policy Bank Cao Phong Phi Cong Thanh said: In recent times, the policy credit capital in the area has always been cleared, flowing regularly to the villages, to the right beneficiaries. The preferential credit capital of the State has affirmed its important role in the process of socio-economic development and sustainable poverty reduction of the locality. In the coming time, the unit will continue to maintain the method of operation, keeping the commune transaction points and savings and loan groups intact, without affecting people's access to capital.

Dinh Thang

Source: https://baophutho.vn/phong-giao-dich-ngan-hang-chinh-sach-xa-hoi-cao-phong-khoi-thong-dong-von-uu-dai-239271.htm