Following the implementation of the two-tiered local government model, the Thuan Chau branch of the Social Policy Bank, along with 10 communes in the area, signed a cooperation program. This program focuses on promoting the dissemination of information to the people regarding the Party and State's policies on preferential loan programs; and directing organizations and associations to receive entrusted funds to assist members in difficult circumstances to access preferential loans for production, business development, and job creation.
Monthly trading session at Hamlet 2, Thuan Chau Commune.
Speaking with us, Mr. Lo Van Thanh, Deputy Director of the Thuan Chau branch of the Social Policy Bank, said: After the new communes were established, the unit continued to maintain 28 transaction points in the old communes to facilitate transactions for customers. At the same time, we strictly implemented the process of receiving lists of borrowers from the communes and savings and loan groups. We assigned staff to the grassroots level to assess and guide households in preparing loan applications, ensuring that policy funds reach the intended beneficiaries. Currently, we are maintaining 18 loan programs, with over 14,600 customers, a total outstanding loan balance of over 993 billion VND, and an overdue loan rate of 0.06%.
Borrowers receive the money after completing the disbursement procedures.
Currently, there are 542 savings and loan groups operating in Thuan Chau district. These groups are responsible for reviewing and assisting poor and near-poor households and policy beneficiary families in need of loans by registering them in the application process. Afterward, the groups conduct a review and selection process to ensure that policy funds reach the intended recipients, minimizing the risk of policy funds not reaching the right people. After receiving loans, poor and near-poor households and policy beneficiary families are further guided on how to use the loan funds for their intended purpose. Throughout this process, community oversight ensures the funds are used correctly.
Mr. Lo Van Ong, Head of the Savings and Loan Group in Cu village, Thuan Chau commune, shared: "My Savings and Loan Group currently has 22 members who have borrowed capital, mainly for developing buffalo and cattle farming and coffee cultivation. During the process of reviewing and selecting loan recipients, I always focus on assessing the family circumstances of each household in need of capital. Cases requiring loans are also announced on the Savings and Loan Group's Zalo group to gather opinions from group members before preparing loan applications. After disbursing the loan capital, the Group will support borrowers in using the loan capital for its intended purpose and will urge them to pay monthly interest to the bank according to the committed contract."
The savings and loan group guides its members in completing the procedures and documents for loan applications.
As one of many households that escaped poverty thanks to policy-based loans, Ms. Luong Thi Chap, from Bai village, Thuan Chau commune, said: "In 2018, my family borrowed capital under the poverty alleviation program to invest in raising 3 cows. By 2023, we had repaid the bank loan and escaped poverty. At the end of 2023, I sold 8 cows to invest in planting about 2,000 coffee trees. In recent years, coffee has yielded good harvests and fetched good prices, so I plan to expand production by another 3,000 trees, but I lack capital. Last February, I proposed to the village's savings and loan group to borrow capital from the Thuan Chau branch of the Social Policy Bank. With guidance from the group and bank staff, my family quickly received a loan of 100 million VND. We used this money to buy seedlings and supplies for production."
Staff and specialists at the Thuan Chau branch of the Vietnam Social Security Bank guide customers on paying interest on time.
In Co Ma commune, approximately 400 poor, near-poor, and policy-beneficiary households have received preferential loans from the Thuan Chau branch of the Social Policy Bank, with a total outstanding loan balance of nearly 40 billion VND. This preferential capital has provided these households with additional resources to develop production and create more jobs. Mr. Ly A Chu, Chairman of the Co Ma Commune People's Committee, stated: "Policy-based capital is a crucial condition for people to gradually escape poverty. Therefore, the commune has coordinated with the bank to strengthen propaganda and help people access loan policies. As a result, to date, the commune has more than 200 workers with new jobs and stable incomes. This is an important driving force helping the commune achieve its goal of reducing the poverty rate by an average of 4% each year."
Officials and staff from the Thuan Chau branch of the Vietnam Social Policy Bank visit the coffee plantation of a loan recipient.
The results achieved in implementing credit policies in the communes of Thuan Chau district show that preferential capital is an important driving force helping poor and near-poor households and policy beneficiary families to have more strength to escape poverty, rise to legitimate wealth, and contribute to promoting local economic and social development. In the coming time, the Thuan Chau branch of the Social Policy Bank will continue to deliver policy credit capital to the right target groups, maximize its effectiveness, and contribute to the Party Committee and local authorities achieving the poverty reduction goals for the 2025-2030 period.
Source: https://baosonla.vn/xa-hoi/them-nguon-luc-giup-nhan-dan-thoat-ngheo-TllhZ65DR.html
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