The effectiveness of policy credit brings not only economic value but, more importantly, addresses social issues, gradually improving the lives of a significant portion of the poor and vulnerable. This contributes to strengthening the people's trust in the Party and the State, based on the harmony between the Party's will and the people's aspirations.
Directive No. 40-CT/TW dated November 22, 2014, of the Secretariat of the 11th Central Committee of the Communist Party of Vietnam on Strengthening the Party's Leadership over Social Policy Credit, has become a correct decision, directly addressing internal issues in the implementation of social policy credit, creating a breakthrough in connecting the strength of the entire political system with the Vietnam Bank for Social Policies (VBSP) to achieve the goal of sustainable poverty reduction.
Besides coordinating and effectively implementing the investigation, review, and verification of poor households, near-poor households, households with average living standards, and other policy beneficiaries, the local Party committee and government have paid attention to leading and directing social policy credit activities, creating favorable conditions for the Social Policy Bank of the town to carry out its assigned political tasks; political and social organizations have effectively implemented the entrusted tasks from the Social Policy Bank; coordinated the loan assessment process; strengthened inspection, supervision, and debt and interest collection; guided borrowers to use capital effectively; and effectively implemented the work of advising and guiding the development and replication of typical production and business models to help each other rise out of poverty and become rich... bringing preferential credit capital to poor households and policy beneficiaries in a timely and appropriate manner. Priority is given to loan capital to implement social policy credit programs and projects to ensure stable and sustainable operation.
In conversations with many residents in Hoa Thanh commune, Dong Hoa town, numerous people shared stories of overcoming difficulties and improving their family lives thanks to policy-based credit. Comrade Nguyen Van Vinh, a veteran member of the Phuoc Loc 2 village branch, said: “The policy-based credit has enabled my family to purchase machinery such as combine harvesters and plows, and develop livestock farming… so in recent years, our family's economy has improved significantly. Each year we earn between 120 and 150 million VND, which has significantly boosted our finances.”
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| Policy credit contributes to achieving poverty reduction goals, ensuring social security, and building new rural areas in Phu Yen province. |
Veterans Association member Ho Thanh Van from Phuoc Binh Bac branch shared: “My family has borrowed money three times, totaling 120 million VND. We repay the loan and then borrow again to continue our business. Thanks to preferential loans from the policy bank, purchasing machinery and livestock has been relatively easy.”
According to the Vice Chairman of the Veterans Association in Phu Le village, Van Phu Hoa shared: “Thanks to the attention and advice of the Association, my family was able to borrow 120 million VND from the preferential loan source of the policy bank. We invested in expanding our model of raising high-yield cattle combined with growing sugarcane, corn, and grass, and utilizing leftover vegetables and fruits from markets as animal feed. Now, my family's income is stable, and we can better cover our daily expenses, creating favorable conditions for our children's education. We hope that organizations will continue to create opportunities for other households to confidently access loan sources to develop production and livestock farming, thereby improving their family's economy.”
The Chairman of the People's Committee of Hoa Thanh commune, Mr. Doan Phu Huu (also a member of the Veterans Association), affirmed: The monthly transaction point of the Social Policy Bank in the commune is located within the commune's People's Committee premises, creating favorable conditions for people to borrow and repay loans. The transaction point has all the necessary information and is publicly displayed as required. Boards, suggestion boxes, hotlines, etc., are displayed in easily visible locations for customers to monitor. The local government promptly directs the commune's poverty reduction committee and entrusted political and social organizations to review loan applicants, ensure loan approval is granted to eligible recipients, and urge the recovery of due debts, especially overdue debts.
Specifically, the Veterans Association of Hoa Thanh commune has coordinated with the Vietnam Bank for Social Policies (VBSP) to promptly deliver policy credit funds to poor households and other policy beneficiaries in the area. By the end of October 2024, the total outstanding entrusted loan balance of VBSP at the Veterans Association of Hoa Thanh commune was 7.7 billion VND with 215 borrowers. Poor people and other policy beneficiaries who have needs and meet the criteria have access to the products and services provided by VBSP.
The effective use of loan capital has helped local households not only escape poverty but also develop economically, build their homeland, and improve their material and spiritual lives. Maximizing the effectiveness of credit capital from the Social Policy Bank has not only contributed to poverty reduction but also helped achieve one of the criteria for Hoa Thanh commune to reach the standard of a model new rural area by 2024.
It can be said that social policy credit has made a significant contribution to the implementation of the National Target Program on Sustainable Poverty Reduction in Hoa Thanh commune in particular, and in Dong Hoa town in general; it is proof that the correct leadership of the Party and the State towards the poor and policy beneficiaries is increasingly effective, widespread, and worthy of its mission as a special social security policy, empowering the poor and policy beneficiaries in their journey to overcome poverty, so that no one is left behind.
The entire political system is involved.
In fact, not only the Party Committee and People's Committee of the commune have closely followed the content of Directive No. 40, but in recent times, the village Party committees and various associations and organizations in the commune have identified leadership and guidance on social policy credit activities as one of the key tasks in their regular work programs and plans. Accordingly, they have paid attention to supporting the Social Policy Bank with facilities and equipment to serve the unit's operations in the area; balancing and prioritizing the allocation of local budgets entrusted to the Social Policy Bank to supplement social policy credit capital, meeting the borrowing needs of poor households and other policy beneficiaries in the area more promptly.
The Vietnam Fatherland Front and socio-political organizations regularly disseminate the Party and State's guidelines and policies on social policy credit; closely monitor and direct grassroots levels to coordinate with banks in implementing credit programs; consolidate and improve the quality of credit and the operational quality of Savings and Loan Groups. They coordinate with local authorities and relevant units to integrate credit activities with programs and policies for agricultural and rural development, education and vocational training, job creation, and new rural development to enhance the effectiveness of social policy credit.
The work of consolidating and improving the quality of operations of the Board of Representatives of the Vietnam Bank for Social Policies at all levels has been carried out regularly, especially after the Chairman of the People's Committee at the commune level joined the Board of Representatives of the Vietnam Bank for Social Policies at the town level. This has enhanced operational capacity; policies and guidelines are implemented quickly, and difficulties and obstacles are promptly resolved at the grassroots level under the direct guidance of the Chairman of the People's Committee at the commune level.
With the dedication, commitment, and responsibility of the staff and employees of the Vietnam Bank for Social Policies, regardless of difficulties and hardships, being present at fixed transaction times to serve the people, they have connected the strength of the entire political system to participate in sustainable poverty reduction and ensure social security, contributing to the overall success of Directive No. 40.
Preferential loan capital provided through the Vietnam Bank for Social Policies (VBSP) has overcome capital shortages and unemployment, prevented usurious lending in rural areas; narrowed the gap between rich and poor, improved people's lives, enhanced economic conditions, stabilized social order and security, and strengthened people's trust in the Party and the State.
This further emphasizes the humanistic aspect of the policy.
Over the 10 years of implementing Directive No. 40 in the commune, policy credit funds have been disbursed to nearly 1,750 poor households and other policy beneficiaries, with a total loan amount reaching nearly 52 billion VND. This capital has helped hundreds of households overcome poverty; attracted and created jobs for 8,630 workers; provided loans to one person who had completed their prison sentence to reintegrate into the community; provided loans to 133 disadvantaged students; supported nearly 60 disadvantaged students in purchasing equipment for online learning; built 1,357 clean water and sanitation projects; and constructed 26 houses for poor households and policy beneficiary families, making a positive contribution to resolving social welfare issues.
Clearly, the effectiveness of policy credit investment is not only measured by the economic value achieved, but also by its role as a solid foundation for the poor, improving people's quality of life, and contributing to the successful implementation of the National Target Program for Sustainable Poverty Reduction and New Rural Development.
It can be affirmed that this is a correct policy of the Party and the State, meeting the aspirations of the people and increasingly being implemented in practice. To further enhance the effectiveness of social policy credit, in line with the context and socio-economic development situation in the new period, in the coming time, Party committees, governments, and functional agencies in the province will continue to pay attention to thoroughly disseminating the content of Directive No. 40. They will raise the awareness of cadres, Party members, and the people about the position and role of social policy credit in the process of organizing the implementation of the Party's guidelines and policies, and the State's laws on economic growth coupled with social progress and equity, ensuring social security, and sustainable poverty reduction.
Party committees and authorities at all levels, especially their leaders, need to demonstrate a sense of responsibility in gathering information related to social policy credit activities; promptly direct the resolution of difficulties and obstacles, and consolidate and improve the quality of credit in their localities. They should direct the effective implementation of surveys to identify poor households, near-poor households, and households with average living standards as a basis for implementing social policy credit, creating conditions for beneficiaries to access capital quickly and promptly. The role of the Fatherland Front in social supervision and criticism should be promoted, enhancing the effectiveness of public supervision of social policy credit activities. The campaign "For the Poor" should be expanded, and consideration should be given to depositing funds and temporarily idle money into the Social Policy Bank to supplement capital.
Political and social organizations entrusted with the task should focus on fully and effectively carrying out the assigned work; guide the assessment of loan applicants; strengthen inspection, supervision, and debt collection; guide borrowers in using capital effectively; and integrate the implementation of social policy credit with programs and projects of associations and organizations. They should effectively provide advice and guidance on building and replicating effective production and business models, as well as models that help each other overcome poverty and achieve legitimate wealth.
Recently, at the conference summarizing 10 years of implementing Directive 40-CT/TW, dated November 22, 2014, of the XI Party Central Committee on strengthening the Party's leadership over social policy credit in the province, organized by the Standing Committee of the Phu Yen Provincial Party Committee on the afternoon of July 17, 2024, Deputy General Director of the Vietnam Bank for Social Policies (VBSP) Hoang Minh Te, speaking at the conference, acknowledged and highly appreciated the outstanding results in the implementation of Directive 40-CT/TW of the Party Central Committee in Phu Yen. It can be affirmed that Directive 40-CT/TW has been put into practice, aligning with the Party's will and the people's aspirations, and has received the people's support and approval. "In the coming time, the Vietnam Bank for Social Policies (VBSP) will continue to pay attention to and focus on supplementing resources and capital to effectively implement preferential credit policies in Phu Yen province, contributing to socio-economic development, sustainable poverty reduction, new rural construction, and ensuring social security in the locality," the Deputy General Director of VBSP affirmed.
Concluding the conference, Ms. Ho Thi Nguyen Thao, Vice Chairman of the People's Committee of Phu Yen province, requested that in the coming time, Party committees and authorities at all levels in the province continue to seriously, promptly, and effectively implement the contents of Directive 40-CT/TW; integrate social policy credit programs into public investment decisions, national target programs, and other programs and projects in the socio-economic development plan for the period 2021-2030; and annually balance and prioritize the allocation of local budgets and other legitimate capital sources to be entrusted to the Social Policy Bank to supplement lending capital.
People's Committees at all levels in the area should direct and effectively carry out the investigation and identification of poor households, near-poor households, newly escaped-from-poverty households, households with average living standards, and other beneficiaries of credit policies as a basis for the Social Policy Bank to provide loans; promote agricultural, forestry, and fisheries extension activities and vocational training to help poor households and other policy beneficiaries improve the efficiency of capital utilization…
The Provincial Fatherland Front Committee coordinates the implementation of social monitoring and criticism activities to improve the effectiveness of policy credit. Political and social organizations enhance their responsibility and role in entrusted lending, guide loan assessments to ensure loans are granted to the right recipients, instruct borrowers on effective use of capital, and regularly inspect, monitor, and urge the recovery of overdue debts…
A correct, effective, and people-pleasing policy has contributed to fundamental changes in both awareness and action throughout the entire political system. A consistent political determination from Party committees and authorities at all levels, from the central to local, has yielded encouraging results in all aspects of economic, cultural, and social order for the poor in rural areas. Over the past 10 years of implementation, Directive No. 40-CT/TW dated November 22, 2014, of the Central Party Secretariat on strengthening the Party's leadership over social policy credit has truly become a guiding principle for social policy credit activities at the provincial, city, and commune levels. This has enabled the Social Policy Bank not only to act as a representative entrusted by the Government to disburse credit but also as a bridge and lever to promote the close link between the Party, the people, and the government in the fight against poverty and sustainable development.
Source: https://thoibaonganhang.vn/tin-dung-chinh-sach-xa-hoi-dap-ung-nguyen-vong-cua-nhan-dan-159333.html
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