Thai Nguyen: Policy credit helps people create livelihoods and improve income

From the capital source to support production and business of the Social Policy Bank (CSXH) of Thai Nguyen province in the management area of ​​Bac Kan Transaction Office, many economic models have been effective, helping people to gradually develop the economy, improve the quality of life, and contribute significantly to the goal of sustainable poverty reduction and new rural construction in the province.

Sustainable poverty reduction through policy funding

Social policy credit has become a bright spot, a pillar in the poverty reduction policy system, ensuring social security, meeting the aspirations of the people, especially the poor and vulnerable groups in society. From the preferential capital source of the Social Policy Bank, a new development direction has been opened, helping people have conditions to invest, expand production and improve their lives.

Mr. Ly Truong Giang's family in Duc Xuan ward borrowed capital to invest in a white horse breeding model that brought high economic efficiency.

The family of Mr. Ly Truong Giang, group 1C, Duc Xuan ward, borrowed 100 million VND from the loan program for near-poor households of the Bank for Social Policies. With this capital, he invested in a model of raising goats and white horses. Thanks to the application of systematic techniques, good disease control and taking advantage of available food sources, the model brought in a stable income, gradually improving their lives. “In the past, my family was very poor, belonging to a poor household in the group. Although I worked for hire in many places, life still did not improve. After much thought, in 2023, I decided to borrow production support capital from the Bank for Social Policies to invest in barns, buy 2 white horses and 5 goats for breeding. After 2 years, the herd of goats and horses grew, the family both sold and kept 4 white horses and 10 goats. The money earned was not only enough to eat but also saved. Thanks to that, my family officially escaped poverty and became a well-off household in the group.” - Mr. Giang shared.

From the policy loan, Ms. Nguyen Thi Diem has the conditions to expand the land area for growing tallow trees, developing the family economy.

Also in Group 1C, Ms. Nguyen Thi Diem's ​​family is one of the typical examples of effective use of policy loans. Previously, her family's life was extremely difficult. She herself was often sick, her husband had an accident that damaged one eye, while her two children were still of school age, making all living and education expenses a heavy burden. In 2022, thanks to a loan of 50 million VND from the Social Policy Bank, Ms. Diem invested in planting more than 2 hectares of tallow trees using systematic care methods and sustainable techniques.

After a short time, the forest grew green and lush, bringing in a significant income, opening up a stable and sustainable path for the family. “Before, life was difficult, and I often worried about not having enough money for my family's living expenses. Thanks to the bank loan, I dared to invest in the forest and take care of it properly. Now, looking at the lush green forest and my family's life gradually getting better, I feel more secure and confident in the future," said Ms. Nguyen Thi Diem.

Accompanying people in the journey of accessing and effectively using loans, the role of Savings and Loan Groups (SLCs) is considered a bridge from the Bank for Social Policies to each poor and near-poor household. Ms. Nong Thi Mai, Head of the SLC Group 1C, Duc Xuan Ward, shared: Currently, the group has more than 36 households borrowing capital with a total outstanding debt of more than 2 billion VND. Thanks to policy capital, many households have had the conditions to invest in livestock farming, afforestation, and small business. Many households initially borrowed only a few tens of millions, but now have developed models worth hundreds of millions of VND.

The most encouraging thing is that poor and near-poor households are now doing business effectively, paying principal and interest on time, many households have become typical examples of economic development in the locality. At each group meeting, everyone reminds each other to use capital for the right purpose, save on expenses and share production experiences. At the same time, maintaining regular group activities, regular inspections and supervision have helped limit risks, and strengthen the spirit of solidarity and mutual support in the community.

Do a good job of supporting capital for people

Director of the Bac Kan Social Policy Bank Transaction Office, Hoang Thi Thom, said: The implementation of policy credit is not only a financial activity, but also a political task with profound humanitarian significance. In the localities under the unit's responsibility, 100% of the borrowing households used the capital for the right purpose and paid their debts on time. Many households not only escaped poverty but also became good producers and traders, contributing to spreading the spirit of self-reliance and self-improvement.

Not only providing financial support, the Social Policy Bank also coordinates with the Women's Union, Farmers' Union, Veterans' Union, etc. to guide production techniques, advise on effective capital use, and help people improve their household financial management skills. Thereby, each credit officer and each loan group leader becomes a "bridge of trust", helping the Party and State's policies spread to each household. When people understand, believe in, and use capital properly, they not only escape poverty but also become active members of the community. That is the greatest success of policy credit.

People come to transact under the guidance of officers of Bac Kan Transaction Office.

At the Bac Kan Social Policy Bank Transaction Office, the outstanding policy credit balance has reached over VND379 billion, with over 4,400 customers participating. Importantly, the overdue debt ratio is controlled below 0.3%, reflecting strict management and high responsibility of borrowers.

Not stopping at Duc Xuan ward, the effectiveness of social policy capital is being replicated in many other communes and wards in the province. The preferential capital source of Thai Nguyen Provincial Social Policy Bank is not just a loan but the beginning of a journey of change, a lever for poor and near-poor people to assert themselves and build a better life. Through successful models, through a strong TKVV system, through the State's companionship with the people, policy capital has affirmed its important role in the national strategy on sustainable poverty reduction and socio-economic development.

Source: https://daibieunhandan.vn/thai-nguyen-tin-dung-chinh-sach-tiep-suc-cho-nguoi-dan-tao-sinh-ke-cai-thien-thu-nhap-10396228.html