Policy credit helps develop the economy, eliminate hunger and reduce poverty sustainably in Gia Lai

The close and responsible coordination between the Gia Lai Provincial Bank for Social Policies (CSXH) and associations and unions in the province has helped 219,244 households benefit from policy credit, giving them more opportunities to invest in economic development, hunger eradication and sustainable poverty reduction in the locality.

In order for policy credit to reach the right beneficiaries quickly, the Gia Lai Provincial Bank for Social Policies has proactively coordinated with local authorities and associations and unions to review and grasp each subject eligible for policy credit; disseminate credit programs to people so that they know and can access loans.

Mr. Dinh Quoc Hiep, in Hoai An commune, is a person who has benefited from policy credit many times.

The Provincial Social Policy Bank coordinated with associations and unions to consolidate and improve 5,806 savings and loan groups in 135/135 communes and wards, creating savings and loan groups to become the "extended arm" of the bank in bringing social policy to beneficiaries.

The bank has also organized 373 transaction points in communes and wards to help people easily access and borrow capital, while also helping to better inspect and monitor credit transactions.

Ms. Nguyen Thi Yen, Head of the Savings and Loan Group of An Long 1 Village, under the Women's Union of Canh Vinh Commune, said that from the stage of reviewing households for loans to disbursement, everything is done openly and transparently; with the supervision of banks, associations, unions and the commune poverty reduction committee. In particular, households that borrow loans are consulted by the functional agencies of the province and commune on investment plans, and guided on production and livestock processes, etc., in order to maximize the benefits from the borrowed capital.

Thanks to that, the management, use of loan capital and debt repayment of the savings and loan group are very favorable. Currently, 60 members of the group have borrowed nearly 5 billion VND from Van Canh Social Policy Bank; 100% of members effectively use the loan capital and have savings deposits through the group.

In 2023, through the savings and loan group of Lam Truc 2 neighborhood managed by the Hoai Nhon ward youth union, Mr. Nguyen Xong borrowed 80 million VND from Hoai Nhon Social Policy Bank to buy a grinder, dryer, and vacuum machine to serve the processing of lotus products.

Mr. Xong shared that TDCS has helped him have more conditions to invest in upgrading equipment and machinery, increasing productivity, ensuring food safety and hygiene, improving product quality while preserving both medicinal properties and lotus scent. Currently, his facility has 2 products that have achieved OCOP 3 stars, the product with the brand name "Sen Nam Xong" is trusted by consumers in Da Nang , Gia Lai, Khanh Hoa and Ho Chi Minh City.

Mr. Nguyen Xong (far left) shares with credit officers of Hoai Nhon Social Policy Bank about promoting loan capital and creating products from lotus plants.

Regularly working with villagers, credit officers and heads of savings and loan groups of Hoai An Commune Farmers' Association grasp the loan needs of each household, thereby advising and guiding people to complete loan applications from many different credit programs.

Among them, Mr. Dinh Quoc Hiep's household in Vinh Hoa village, Hoai An commune, borrowed capital 4 times with preferential interest rates to invest in afforestation; develop livestock; borrow capital for his children's education and go abroad to work.

Currently, Mr. Hiep's 4 children are all married, have their own lives, and are financially stable.

"Simple procedures, low interest rates, and long repayment terms are outstanding advantages of TDCS. Therefore, whenever I need more capital for investment, I often go to the Social Policy Bank to borrow and it is always met," Mr. Hiep shared.

Mr. Xong and Mr. Hiep are just two of thousands of households that have received loans and effectively utilized the loan capital. Ms. Nguyen Thi Thao Vi, Deputy Director of the Provincial Branch of the Social Policy Bank, said: The bank not only provides capital to the people but also coordinates with the government and associations and organizations to advise and guide people to develop appropriate investment plans, in order to effectively utilize the loan capital. At the same time, it strengthens the inspection and supervision of comparing loan results, using loan capital from books with reality, promptly handling arising problems. Thanks to that, outstanding debt and credit quality have increased, overdue debt accounts for only 0.06% of total outstanding debt.

Source: https://bvhttdl.gov.vn/tin-dung-chinh-sach-giup-phat-trien-kinh-te-xoa-doi-giam-ngheo-ben-vung-tai-gia-lai-20251109210004928.htm