Empowering people in disaster areas

Since 2024, the continuous historic floods in Lao Cai province have caused severe damage to people, including thousands of customers of the Provincial Social Policy Bank (CSXH) Branch. In this situation, the branch has proactively deployed and activated many solutions, promptly accompanying people to overcome the consequences of natural disasters and soon stabilize their lives.

In the historic floods caused by storm Yagi in 2024 and storm No. 10 recently, Nam Cuong ward, Lao Cai province was one of the localities that suffered severe consequences, with damages amounting to hundreds of billions of dong.

Immediately after the natural disaster, leaders and many working groups of the Provincial Bank for Social Policies Branch directly went to the locality to visit, encourage, and hand out gifts to support people in flood-affected areas.

After the floods, hundreds of households in Nam Cuong ward suffered heavy economic damage.

Along with the gifts expressing the heart of sharing, the Social Policy Bank Branch sent many delegations of officials to coordinate with entrusted organizations, village chiefs, savings and loan groups to review the damaged households to assess the level, thereby having solutions to extend, postpone, and freeze debt for customers.

To develop the flower and ornamental plant growing profession, in 2023, Mr. Doan Van Hoa's family in Hop Thanh residential group, Nam Cuong ward borrowed 90 million VND from the Bank for Social Policies, Lao Cai branch. After a series of efforts, his family has built one of the largest flower and ornamental plant supply systems in the area. However, two consecutive floods in 2024 - 2025 caused his family to lose more than 70% of its property value.

After a thorough assessment, the bank rescheduled the 90 million VND loan that Mr. Hoa had made for a period of 60 months and the family did not have to pay monthly interest as before. This concern has given Mr. Hoa's family more motivation to quickly restore production.

Mr. Hoa emotionally shared: “After the natural disaster, my family fell into a deadlock and difficulty. Fortunately, we received support from the Provincial Social Policy Bank Branch. That is the clearest demonstration of our fellow countrymen's affection, we really appreciate it and must make more efforts in economic development.”

Nam Cuong ward residents restore economic development models after floods.

As the Head of the Savings and Loan Group of Hop Thanh village, Ms. Vu Thi Linh Nham's family was able to borrow 50 million VND in job creation capital from the Provincial Bank for Social Policies Branch to invest in raising porcupines and ducks, and their lives have changed a lot since then. However, after the historic flood in 2024, her family lost almost everything they had invested.

Sharing the difficulties with customers, Ms. Nham is one of 19 local people whose debts were rescheduled by the bank, helping her family gradually stabilize production again. Currently, her family's more than 200 ducks and hedgehogs are growing well and are ready to be sold.

Ms. Nham confided: “The floods swept away a lot of local people’s property. During the disaster, the provincial branch of the Social Policy Bank for Social Affairs forbade our debts, waived interest, and provided capital to restore production.”

Ms. Ta Ngoc Hoa - Chairman of Nam Cuong Ward People's Committee said: "We really appreciate the timely support of the Provincial Bank for Social Policies Branch. The amount of over 1 billion VND to reschedule debt for Nam Cuong Ward residents is a great source of encouragement, helping people overcome the consequences of natural disasters and quickly restore production."

Staff of the Social Policy Bank, Lao Cai Province Branch, came to check and grasp the damage caused to customers after the storm.

According to statistics from 2024 to present, the whole province has 560 households borrowing policy credit affected by natural disasters, with a total outstanding debt of about 25.6 billion VND. In order to promptly support people, the Provincial Bank for Social Policies Branch has coordinated with local authorities, entrusted unions, savings and loan groups to conduct statistics on households borrowing loans that have been affected to establish a file to handle risky debt; review damaged households in need of loans to restore production to submit to competent authorities for consideration and resolution.

To date, more than 860 customers who suffered heavy losses after natural disasters have had their debts rescheduled by the Provincial Bank for Social Policies Branch, with an amount of over VND 33 billion. Particularly from the beginning of 2025 until now, the Provincial Bank for Social Policies Branch has reviewed and proposed to process 2 batches of 57 loans with an amount of nearly VND 2.2 billion, and proposed to cancel the debt of 36 loans with an amount of over VND 1.3 billion.

Ms. Vu Thi Lan Huong - Deputy Head of the Business Planning Department, Provincial Branch of the Social Policy Bank said: "Over the years, the branch has always accompanied and shared with people in times of trouble through many specific and practical activities, thereby demonstrating the unit's responsibility to the community."

In the coming time, the Provincial Social Policy Bank Branch will continue to pay special attention to those in natural disaster areas; regularly check and grasp the situation to coordinate in handling objective risks; review customers' loan needs to supplement new capital sources, helping people develop their family economy.

Staff of the Bank for Social Policies, Lao Cai Province Branch, disburse preferential loans to people in disaster areas.

The support of the Provincial Social Policy Bank Branch for people in disaster areas is adding confidence, becoming a support for people to soon overcome difficulties and stabilize their lives after natural disasters.

Source: https://baolaocai.vn/tiep-them-suc-manh-cho-nguoi-dan-vung-thien-tai-post886936.html