Thanks to access to preferential loans for agricultural and rural development from branches of the Agricultural and Rural Development Bank ( Agribank ) in the province through loan groups, in recent years, hundreds of thousands of households in the province have been able to access capital with preferential interest rates to develop production, create jobs, and increase income. Capital from banks has become a "lever" contributing to promoting economic development associated with the construction of new rural areas, advanced and model new rural areas in localities.
Together with a delegation of Agribank Nam Thanh Hoa officials, we visited Quang Xuong district to learn about models of using preferential loan capital through loan groups. Mr. Le Thien Nham, from Tan Phong town, said: “My family's entire current business has been built up by Agribank over many years. My family has been connected with Agribank since the early days of our business in 1995, receiving loans to invest in raising traditional fish species. To date, my family has borrowed 500 million VND from Agribank Nam Thanh Hoa to invest in building dozens of cement fish ponds, each 50m2 in size, specializing in producing specialty fish fry imported from southern provinces. Each year, our fish fry production facility sells 8 to 10 million fish fry to the market. In addition, my family also acts as a middleman for purchasing commercial fish from local households for export to Laos and the provinces of Nghe An, Ha Tinh , Quang Tri, and Hue. Each year, our family's revenue reaches 8 to 10 billion VND, with a profit of nearly 1 billion VND, creating jobs.” "This creates jobs for 5 to 6 workers, with an income of 6 to 8 million VND per person per month."
The loan groups have truly become an "extended arm" contributing to the timely and effective delivery of Agribank's preferential capital to farmers. The loan groups perform tasks such as evaluating loan applicants, guiding and verifying loan applications, submitting them to associations, organizations, and the People's Committee at the commune level for approval, notifying and supervising borrowers in receiving funds according to the bank's disbursement schedule, monitoring the use of capital by borrowers for the intended purpose, urging borrowers to repay loans directly to the bank on time, and are responsible for disseminating information and urging borrowers to comply with relevant regulations of the bank and higher-level associations. The head of the loan group is selected from reputable individuals who are close to the members and can closely monitor, encourage, and understand the loan needs of the group members. People participating in the loan program are assessed at the group level, and loan disbursement, repayment, and interest collection are conducted through mobile groups and commune-level transaction points. This has helped save on travel costs and provided more convenient and easier access to loan capital. In addition, during the loan process, group members receive training and technology transfer from farmers' associations and women's unions at all levels, enabling them to develop feasible production and business plans and maximize the effectiveness of the loan capital.
As of mid-November 2024, the province had established 4,842 loan groups, with over 142,000 members participating in loans, outstanding loans exceeding 20 trillion VND, and a non-performing loan ratio below 0.03%. The activities of these loan groups have been truly effective and meaningful, especially in mountainous districts, remote areas, and areas with special difficulties. The persistent, comprehensive, and continuous propaganda and mobilization efforts at the grassroots level have yielded very positive results. For many years, there have been virtually no complaints or petitions from people regarding loans, negative issues have been almost completely eliminated, and other emerging problems have been detected and resolved promptly. Through the various levels and loan groups, Agribank's credit capital has reached the people more easily, contributing to helping members invest in production development. The loan group management board has coordinated with the bank to promptly resolve any arising issues. Agribank's loan programs have promoted the development of traditional craft villages, such as: Tu Tru sticky rice cake village, Xuan Lap leaf-shaped rice cake village, Phu Xuan rice vermicelli village, Ngoc Thom conical hat village (Tho Xuan); Tan Chau rice crackers village (Thieu Hoa); Thang Long rice vermicelli village, Van Thang incense sticks village (Nong Cong); Phu Quang sticky rice cake village (Vinh Loc); Ai village soy sauce village (Yen Dinh), Hoang Thinh traditional rattan and bamboo weaving village (Hoang Hoa)... Through these programs, people have access to capital to maintain and expand production and business, create jobs for workers, and contribute to the socio-economic development of the locality.
Loan groups are being likened to "extended arms" of Agribank branches, effectively managing and disseminating information about credit policies for agricultural development, farmers, and rural areas. To improve the effectiveness of these loan groups, Agribank branches in the province are continuing to coordinate with relevant organizations and associations to improve the quality of the loan group network; strengthening inspection and supervision of the use of funds by borrowers after disbursement to ensure that credit reaches those in need and is used effectively.
Text and photos: Minh Ha
Source: https://baothanhhoa.vn/tao-dieu-kien-cho-nguoi-dan-tiep-can-voi-nguon-von-phat-trien-nong-nghiep-nong-thon-232243.htm
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