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| Disbursement of policy credit capital in Hoa Tan Dong commune (Dong Hoa town). Photo: MINH HUYEN |
Loan opens business direction
At the transaction session in Hoa Hiep Trung ward in May 2025, Ms. Nguyen Thi Lieu in Phu Hiep 2 quarter received 50 million VND in capital for near-poor households to raise cows. This is the third time Ms. Lieu has borrowed this capital from the Vietnam Bank for Social Policies (VBSP).
The 62-year-old woman said she was old and her family did not have the means to do business, so she focused on raising cows. “With preferential loans, I bought cows to raise to generate income. The head of the savings and loan group and the bank staff gave me very enthusiastic instructions and the procedures were quick and easy, so I felt very secure,” said Ms. Lieu.
Last May, Ms. Nguyen Thi Hao in Ward 3 (Hoa Vinh Ward) also completed the loan application to create a job to open a fish stall at the market. According to Ms. Hao, she has been selling fish on the go for a long time. After getting the fish at the port, she transports them to all the markets in the area to sell, and does not have a fixed stall. After being informed about the policy credit loan program by the head of the savings and loan group, she discussed it with her family and decided to apply for a loan. "I hope that after having a stall in the market, my business will be stable and my income will be better," Ms. Hao shared.
Not only the two cases mentioned above, in the first 5 months of 2025, policy credit capital from the People's Credit Fund has helped 2,150 households in Dong Hoa town to have conditions for production and business, improving their lives. According to the report of the Dong Hoa Town People's Credit Fund Transaction Office, in the first 5 months of this year, the total loan turnover in the area reached nearly 86.3 billion VND, of which May alone reached 26.2 billion VND - the highest level since the beginning of the year. Debt collection turnover reached nearly 65 billion VND, bringing the total outstanding debt of the whole town to nearly 523.8 billion VND, with 10,931 households still having outstanding loans.
Policy capital has been evenly distributed to communes and wards. Some places with high loan turnover include: Hoa Tan Dong commune with more than 13.2 billion VND; Hoa Vinh ward with more than 12 billion VND; Hoa Xuan Dong commune with nearly 11.4 billion VND; Hoa Thanh commune with more than 11.2 billion VND... Areas with high total outstanding debt include: Hoa Hiep Trung ward with more than 75.5 billion VND; Hoa Tan Dong commune with more than 67.8 billion VND; Hoa Thanh commune with more than 65.6 billion VND...
Accompanying government, spreading policy
According to the plan, in the coming time, Dong Hoa town will merge communes and wards to streamline the management apparatus, in accordance with the population size and actual conditions. This merger will lead to some changes in administrative boundaries, grassroots political system and the way of managing policy credit capital.
Mr. Le Hong Phong, Director of the Dong Hoa Town Social Policy Bank Transaction Office, said: “We identify the pre-merger period as an important time to speed up disbursement to ensure that people have capital to do business. After the merger, the commune-level government apparatus will change; savings and loan groups may need time to consolidate and adjust. Therefore, speeding up disbursement in the current period is a way to help people stabilize their lives and avoid interruptions in accessing capital.”
According to Mr. Phong, the unit is currently working closely with the authorities of communes, wards and associations to review loan needs and guide people to complete loan applications quickly and in accordance with regulations. In addition to fixed transaction sessions, the unit can arrange additional transactions to promptly transfer capital to beneficiaries.
In the context of localities preparing for merger, effective implementation of policy credit is not only meaningful in the short term but also brings long-term value to the sustainable development process of the town.
Mr. Le Hong Phong, Director of Dong Hoa Town Social Policy Bank Transaction Office
Not only stopping at disbursing capital, the Dong Hoa Town Social Policy Bank Transaction Office also actively implements post-loan inspection and supervision activities, guiding borrowers to use capital for the right purpose and effectively. Communication sessions, training on business skills and capital management are also coordinated by associations and organizations in many localities. Thanks to that, the majority of borrowers use capital for the right purpose, are aware of repaying debts on time. The debt collection rate is high, helping to quickly rotate capital and expand the scope of support.
“In the context of the locality preparing for merger, the effective implementation of policy credit is not only meaningful in the short term but also brings long-term value to the sustainable development of the town. With the initiative and flexibility of the Dong Hoa Town Social Policy Bank Transaction Office, the support of authorities at all levels and the active participation of mass organizations, policy credit is truly becoming a “lever” to help people rise up and take control of their lives during the administrative transition period,” Mr. Phong affirmed.
Source: https://baophuyen.vn/kinh-te/202506/tang-toc-giai-ngan-giup-nguoi-dan-on-dinh-sinh-ke-c120532/
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