Agreement in principle was reached on the Project for Reorganizing and Reorganizing the Provincial Farmers' Support Fund.

This afternoon, August 19th, the Standing Vice Chairman of the Quang Tri Provincial People's Committee, Ha Sy Dong, chaired a meeting with the Provincial Farmers' Association and relevant departments and agencies regarding the draft plan for restructuring the organization and operation of the Provincial Farmers' Support Fund.

Permanent Vice Chairman of the Provincial People's Committee Ha Sy Dong delivers the concluding remarks at the meeting - Photo: QH

According to information from the leaders of the Provincial Farmers' Association, the Provincial Farmers' Support Fund has been in existence and developing for 24 years. Over the years, capital from the fund has helped thousands of farming households borrow to develop their businesses , escape poverty, and contribute to creating jobs for thousands of rural workers.

Based on observations, the activities of the Provincial Farmers' Support Fund have had a positive impact on economic restructuring, rural development, and sustainable poverty reduction, while also making a significant contribution to enhancing the role of farmers' associations at all levels.

However, the current capital needs of farmer members are very high. Meanwhile, the current capital of the Provincial Farmers' Support Fund is only nearly 5.9 billion VND, which only meets a small part of the members' needs. At all levels of the association, the growth of the Farmers' Support Fund is still slow. The funds allocated from the state budget remain low. In order for the Farmers' Support Fund to meet the increasing demand for investment capital for agricultural development linked to the value chain in production and product consumption, state investment, including investment through the Farmers' Support Fund of the Provincial Farmers' Association, is essential.

At the meeting, the leaders of the Provincial Farmers' Association presented the draft plan for restructuring the organization and operation of the Provincial Farmers' Support Fund. Accordingly, the Provincial Farmers' Support Fund will be headquartered at the Provincial Farmers' Association office. The Fund will operate on the principle of financial autonomy, not for profit; ensuring transparency, accountability, and capital preservation and growth.

The Fund performs its functions and duties in accordance with the law. The purpose of the Provincial Farmers' Support Fund is to support farmer members in building and replicating effective production and business models, contributing to increased income and improved living standards for farmers; creating resources, conditions, and tools to unite and gather farmers into the association, contributing to building the association and the farmers' movement... The leaders of the Provincial Farmers' Association requested the Provincial People's Committee to consider supplementing the charter capital of the Provincial Farmers' Support Fund to nearly 30 billion VND by 2031.

Concluding the meeting, the Standing Vice Chairman of the Provincial People's Committee, Ha Sy Dong, agreed in principle with the proposal to reorganize and operate the Provincial Farmers' Support Fund. He also requested the Department of Finance to coordinate with the Department of Planning and Investment to inspect and review budget funds, and based on that, propose a suitable plan for balancing and allocating capital. The Provincial Farmers' Association will incorporate the opinions of the departments and agencies to finalize the draft proposal and submit it to the Provincial People's Committee for review and approval before presenting it to the Provincial People's Council at the next session.

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