Dak Nong Farmers Support Fund is effective

Mr. Nguyen Van Nin's family, in village 8, Kien Thanh commune (Dak R'lap), previously had difficult economic conditions. After receiving a loan from the People's Credit Fund, the family's economy has completely changed.

img_0083(2).jpg — Farmers get loans from the Farmer Support Fund to improve coffee production efficiency

Mr. Nin said that previously, the Farmers' Association of Kien Thanh commune created favorable conditions for him to borrow 50 million VND from the Farmers' Association Fund. This capital has helped his family to apply science and invest in fertilizers in agricultural production.

Up to now, his family has 5 hectares of coffee, with a yield of 4 tons/ha/crop; 1 hectare of pepper with a yield of 5 tons/ha/crop. The family's fruit trees, passion fruit, etc. all have high yields.

Since 2008, his family has earned over 800 million VND per year. Mr. Nin's family also creates jobs for many local workers.

img_0149(2).jpg — Many farming households have promoted economic efficiency thanks to capital from the Farmer Support Fund.

Currently, all districts and cities have established People's Aid Funds. The capital from this fund is growing. In 2010, the total source of the People's Aid Fund in the whole province was less than 600 million VND, but now it has reached more than 60 billion VND.

Of which, the central fund entrusted over 10 billion VND, the provincial fund over 22 billion VND, the district fund nearly 28 billion VND.

The Farmers' Association has created conditions for over 1,800 farmer members to borrow capital, of which 228 cases borrowed capital to implement economic development projects.

The management of capital from the Farmers' Association Fund is always focused on by the units. Mr. Nguyen Tu, Vice Chairman of the Farmers' Association of Dak R'lap district, said that the unit regularly disseminates to farmer members about the purpose and significance of the support capital.

Since then, farmers have made good use of loan capital and actively contributed to fund building, causing the fund to increase rapidly.

The unit manages loans closely, lending to the right subjects and for the right production purposes. Thanks to that, it has improved loan efficiency, bringing practical value to farmers.

"Farmers who have access to loans from the Farmers' Association Fund have applied scientific and technical advances to production, transformed the structure of crops and livestock appropriately, and developed the economy effectively," said Mr. Tu.

img_0082(2).jpg — Many farmers' products are invested in processing thanks to access to loans from the Farmer Support Fund.

According to the Provincial Farmers' Association, the Farmers' Association Fund has promoted economic efficiency, contributed to exploiting the potential and strengths of each locality, created stable jobs, and improved income and life for members and farmers.

Thanks to this fund, many associations have established groups with the same purpose of producing goods on a large scale; building collective economic models, clubs, cooperatives, cooperatives, etc., bringing high economic value.

Mr. Ho Gam, Member of the Provincial Party Committee, Chairman of the Farmers' Association of Dak Nong province, assessed: The Farmers' Association Fund helps farmers have capital to develop production and business, create jobs, increase income, get rich and sustainably reduce poverty.

This fund contributes to economic, political, security and social stability, especially in rural areas. The Farmers’ Credit Fund has become one of the “channels” that help farmers access capital effectively.

"The fund has been helping to gather and attract farmers to the association more and more effectively. Through this source, the association at all levels has been strengthened and the position of the farmers' association in the political system has been raised," said Mr. Gam.

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