Social policy credit, a "lever" to create jobs and sustainably reduce poverty in Phu Ninh

Practical companionship with the poor

Since its inception, the Phu Ninh District Social Policy Bank has clearly defined its operating motto: bringing capital to the right people, for the right purposes and in a timely manner. On that basis, the unit has built a solid transaction network, effectively coordinated with entrusted socio -political organizations, local authorities and the Savings and Loan Group system to implement policy credit programs throughout the area.

By the end of April 2025, the total policy credit capital in the district reached more than 407 billion VND; of which the central government provided more than 287 billion VND, the local budget entrusted more than 61 billion VND, the rest was mobilized from organizations and individuals. The total outstanding loans reached over 401 billion VND, an increase of more than 19.5 billion VND compared to the beginning of the year, showing a stable and sustainable credit growth rate.

Life-changing capital

Thanks to preferential capital, many households in Phu Ninh have gradually escaped from difficulties and become masters of their lives. Mr. Luong Quang Binh ( Phu Yen village, Tam Dan commune) used to be a poor household. Thanks to a loan of 50 million VND from the district's Social Policy Bank, he invested in raising 3B cows. From one cow at first, he has now increased his herd to 5 cows, creating a stable income, improving living conditions, and providing his children with a full education. "I have paid off all my debts, and my family is now living a stable life, largely thanks to this herd of cows," Mr. Binh shared.

The 3B policy credit loan model for cattle breeding brings economic efficiency in Tam Dan commune, Phu Ninh district. Photo: QUOC VUONG

Similarly, Ms. Tran Thi My Diem (Thanh Hoa village, Tam Dan commune) borrowed 50 million VND to invest in clean water and environmental sanitation projects. Previously, the well water in the area was often contaminated with alum, turbid, and unsanitary. Thanks to the loan, her family built a modern clean water system and solid toilets, ensuring health and improving the quality of life. "Since having clean water, my family's life has improved significantly," Ms. Diem said happily.

People in Phu Ninh district borrow capital to invest in clean water and household sanitation projects. Photo: QUOC VUONG

Contribute to sustainable poverty reduction

In the period of 2020-2025, the Phu Ninh District Social Policy Bank has disbursed loans to more than 21,454 poor households and policy beneficiaries. Of which, more than 3,619 poor and near-poor households, 1,789 households have escaped poverty, 4,894 workers have new jobs or have maintained stable jobs; 872 students with difficult circumstances have access to study capital; more than 18,590 clean water and environmental sanitation works have been invested; 176 houses have been built and repaired according to Decree 100/2015/ND-CP.

Thanks to that, the poverty rate of the whole district has decreased sharply from 22.3% in 2005 to 1.8% at the end of 2024, affirming the great role of policy credit in the cause of sustainable poverty reduction.

Tight management, efficient operation

The success of policy credit in Phu Ninh comes from the synchronous participation of the entire political system. The District Social Policy Bank Transaction Office always proactively coordinates closely with entrusted organizations and local authorities to review needs, approve the right subjects, and at the same time strengthen inspection and supervision of loan use. Savings and Loan Groups operate more and more effectively, playing an important role in capital management, technical support, and production consulting for borrowers.

In particular, the District Social Policy Bank has promptly advised the District Party Committee and the District People's Committee on the implementation of Directive No. 40-CT/TW, Conclusion No. 06-KL/TW of the Secretariat; the Development Strategy of the Social Policy Bank to 2030 according to Decision No. 05/QD-TTg of the Prime Minister; and most recently, Directive No. 39-CT/TW dated October 30, 2024 of the Secretariat on improving the effectiveness of policy credit in the new period. Thanks to that, the district has transferred 6.7 billion VND from the budget to entrust the District Social Policy Bank to lend to poor households and policy beneficiaries.

Policy credit - the pillar of social security

Mr. Nguyen Huu Binh - Vice Chairman of the District People's Committee, Head of the Board of Directors of the Phu Ninh District Social Policy Bank - assessed: "Social policy credit is one of the important 'pillars' of the poverty reduction campaign, contributing to stabilizing people's lives, developing the local economy and limiting black credit in rural areas. Phu Ninh has been and is a bright spot in implementing the State's preferential credit policy."

Policy credit capital has truly spread to every village and household, becoming a "lever" to promote livelihood development and build a new life in rural areas. With the right orientation, strong participation of all levels, sectors and the whole society, Phu Ninh district is gradually realizing the goal of no more multidimensional poor households by 2030, building an increasingly civilized, developed and livable locality.

Source: https://baoquangnam.vn/tin-dung-chinh-sach-xa-hoi-don-bay-tao-viec-lam-giam-ngheo-ben-vung-o-phu-ninh-3155037.html