Providing capital for farmers to develop the economy

Over the years, the Farmers' Association of Kien Xuong district has consistently strived to act as a bridge connecting with banks in the district to bring preferential capital sources to its members, empowering them to invest in production and business development, and helping them escape poverty and become wealthy.

Staff at the Kien Xuong District Branch of the Social Policy Bank are processing customer applications.

Following the Kien Xuong District Farmers' Association officials to visit a highly effective mudless eel farming model in cement tanks in Minh Quang commune, we were introduced by Mr. Tran Van Trinh, the owner of the model: In mid-2023, with guidance and connections from the commune's Farmers' Association, my family boldly applied for a 1 billion VND loan from the Agricultural and Rural Development Bank ( Agribank ) branch in the district, investing in building 20 cement tanks and buying eel fry for farming. I chose mudless eel farming because it requires less space, less labor, is easy to clean the tanks and change the water, has higher productivity; and the market and prices are stable.

After 11 months of proper care, the eels are ready for sale. On average, Mr. Trinh harvests over 10 tons of eels per batch, earning a profit of 500-600 million VND per year after deducting expenses. Thanks to timely financial support, Mr. Trinh's family has achieved a high and stable income from their mudless eel farming model.

Mr. Tran Van Trinh's mudless eel farming model in Minh Quang commune has yielded high economic efficiency.

In mid-2024, Mr. Hoang Van Vang from Binh Dinh commune was also connected by the commune's Farmers' Association with Agribank's Kien Xuong branch to borrow over 1 billion VND to open another store selling eyeglasses and watches. With the motto of always prioritizing trustworthiness and quality, the store is always busy with customers. Mr. Vang shared: "After deducting expenses, my family earns about 20 million VND per month. My family plans to expand the store and hopes the bank will continue to provide additional loans to support the expansion."

Mr. Nguyen Tien Du, Chairman of the Farmers' Association of Binh Dinh commune, said: The commune currently has 225 members connected with local banks to borrow capital, with outstanding loans totaling over 13 billion VND. The association has also organized many training courses on transferring scientific and technical knowledge in crop cultivation and livestock farming, encouraging and guiding members to introduce high-economic-value crops and livestock into farming and livestock breeding, and expanding business to maximize the effectiveness of capital. Many economic development models have generated incomes of tens to hundreds of millions of VND per year, such as Mr. Hoang Van Vang selling eyeglasses and watches; Mr. Pham Van Tinh raising fish in floating ponds; and Ms. Nguyen Thi Thanh Tam raising pigs in a closed-loop system… However, the majority of members and farmers in the commune still lack capital for large-scale production development. They request that banks continue to cooperate and create conditions so that more farmers can access preferential loans, expand their scale, and apply scientific and technical advancements to production and business to achieve effective wealth creation.

Mr. Nguyen Van Chuyen, Chairman of the Kien Xuong District Farmers' Association, said: Supporting and assisting members and farmers in economic development has always been a crucial task for the District Farmers' Association. The Association proactively seeks and diversifies loan channels to provide capital for farmers to expand production and business, build new economic models, and strive for prosperity. One of these channels is the implementation of a program in coordination with the Social Policy Bank, Agribank's district branch, and other commercial banks in the area; establishing and maintaining effective operation of over 270 savings and loan groups with nearly 6,500 members. To create favorable conditions for members to borrow capital for economic development, the association at all levels reviews and understands capital needs, provides information, guides members in completing loan applications, and collects loans according to schedule. By the end of 2024, the total outstanding loan balance of the Farmers' Associations at all levels in the district, entrusted by banks, was nearly 645 billion VND, providing loans to over 11,500 households. Of this, the Social Policy Bank branch in the district accounted for 219.5 billion VND for 4,600 households; the Agribank branch in the district accounted for 175.46 billion VND for 1,923 households; and other commercial banks accounted for 250 billion VND for 5,007 households. Through inspection and monitoring, the funds were used by households for their intended purposes and generated profits. This has gradually affirmed the position and role of the association, fostering trust and loyalty among members to the organization.

Providing capital to farmers is a practical measure that meets their needs, helping them invest in production development, restructure crop and livestock farming, create new jobs for rural workers, increase income, and develop family economies. This is also a task of the District Farmers' Association in jointly building advanced and model new rural areas in the locality.

Trung Nghia

Source: https://baothaibinh.com.vn/tin-tuc/4/216908/tiep-von-cho-nong-dan-phat-trien-kinh-te