Helping poor households in Thang Binh rise up with preferential loans

Pepper garden of Mr. Nguyen Ba Nang's household. Photo: V.QUANG

Realizing that the local soil is favorable for pepper growing, Mr. Nguyen Ba Nang (Binh Phung village, Binh Que commune, Thang Binh) boldly borrowed 50 million VND from the Transaction Office of the Social Policy Bank (CSXH) of Thang Binh district to plant 350 pepper trees on an area of ^{​​2,000m2} .

Pepper plants grow quickly and bear fruit, helping Mr. Nang earn an income of 100 million VND/year from selling pepper. He said that policy credit has helped his family invest in production to have a stable income and escape poverty.

Mr. Tran Quoc Tuan - Director of the Transaction Office of the Social Policy Bank of Thang Binh district said that the total capital and total outstanding policy credit balance in the area as of December 31, 2024 is more than 949 billion VND.

In 2024, the total preferential loan turnover in Thang Binh district reached more than 293 billion VND, debt collection was 179 billion VND; outstanding debt increased by 114.6 billion VND compared to the beginning of the year.

In 2024, outstanding policy credit in Thang Binh district will grow by 13.7%, higher than the provincial average of 9% and accounting for nearly 12% of outstanding debt in the province.

“In 2024, we will urgently deploy documents to quickly disburse capital to the people in a timely manner. Monthly interest collection will reach 100% of the interest receivable. Savings mobilization through groups and individuals, groups will reach more than 100% of the plan. Credit quality is stable, overdue debt will decrease by 247 million VND compared to 2023” - Mr. Tuan said.

Model of growing vegetables and fruits indoors under canvas cover from social policy loans in Thang Binh district. Photo: V.QUANG

Up to now, there are 16 policy credit programs in Thang Binh district, including loans for poor households, near-poor households, households that have just escaped poverty, loans for students, job creation support, social housing loans, labor export, loans for investment in clean water and environmental sanitation, loans for people who have completed their prison sentences, etc.

Mr. Nguyen Van Huy - Vice Chairman of the People's Committee of Thang Binh district, Head of the Board of Directors of the District Social Policy Bank, said that in 2024, the policy credit system in the area has focused on operating, inspecting, and fostering expertise and professionalism to improve policy credit activities with the motto "understanding people's hearts, serving wholeheartedly".

“We focus on implementing Directive 40 of the Party Central Committee Secretariat on strengthening the Party's leadership over policy credit; implementing policy credit in association with sustainable poverty reduction; balancing, reviewing and allocating additional district budgets for preferential loans in the area, contributing to the good implementation of the local socio -economic development task. In 2025, Thang Binh district strives to achieve a debt balance of more than 1 trillion VND” - Mr. Huy said.

Source: https://baoquangnam.vn/tiep-suc-ho-ngheo-thang-binh-vuon-len-bang-von-vay-uu-dai-3147870.html