Policy capital helps people escape poverty

Mr. Ha Van Trung, village 9, Lanh Ngoc commune, harvests oranges. Photo: N.HUNG

Owning an area of nearly 2 hectares of garden land, Mr. Ha Van Trung (village 9, Lanh Ngoc commune) wants to renovate it to grow fruit trees but has difficulty with capital.

Thanks to the local introduction, Mr. Trung was able to access a preferential loan of 100 million VND from the Tien Phuoc Social Policy Bank Transaction Office under the Employment Loan Program. From the loan and savings, Mr. Trung and his wife invested in improving the land to grow about 200 green-skinned grapefruit, orange, durian, banana trees and invested in planting nearly 5,000 Tien Phuoc areca trees; at the same time, they built a barn to raise nearly 200 hybrid wild boars.

Thanks to hard work, after just over 5 years, Mr. Trung's family's combined crop and livestock production model has provided a stable income of about 250 million VND/year after deducting expenses.

Staff of the Tien Phuoc Social Policy Bank Transaction Office guide people of Lanh Ngoc commune to complete loan application procedures. Photo: N.HUNG

Along with growing fruit trees and raising hybrid wild boars, Mr. Trung and his wife invested in planting about 10 hectares of hybrid acacia trees, earning an average of about 100 million VND per year. The total annual income reached more than 350 million VND, helping Mr. Trung's family stabilize their economy and become a well-off household in the locality.

Also in village 9, Lanh Ngoc commune, thanks to accessing a loan of 100 million VND from the Social Policy Bank, Huynh Thi Phuong and her husband have boldly invested in developing a garden - pond - barn economic model. "Thanks to the effective use of policy credit capital, up to now, the family has not only paid off all the principal and interest from the bank, but also had the conditions to build a spacious house. It can be said that the capital from the Tien Phuoc Social Policy Bank is a fulcrum to help us farmers escape poverty and stabilize our lives," said Ms. Phuong.

Officers and leaders of the Tien Phuoc Social Policy Bank Transaction Office survey the economic models of households using loan capital. Photo: N.HUNG

Mr. Phan Hong Nhat, Deputy Director of the Tien Phuoc Social Policy Bank Transaction Office, said that in order for preferential loans to reach people in a timely manner, the transaction office coordinates with socio -political organizations to maintain the effective operation of savings and loan groups to make monthly disbursements at commune transaction points. Thanks to the quick and effective implementation, it helps people have conditions to do business, develop production, improve their lives, and contribute to completing the goal of building an advanced new rural commune.

Up to now, the policy credit capital managed by the Tien Phuoc Social Policy Bank Transaction Office has implemented many preferential loan programs such as: poor households, near-poor households, newly escaped poverty households; production and business households in difficult areas; loans for clean water and rural environmental sanitation...

The entire Lanh Ngoc commune has 44 savings and loan groups, with more than 1,680 customers, total outstanding loans reaching over 7 billion VND. Preferential credit capital has become an important support, helping poor households and policy households improve their income, stabilize their lives and gradually escape poverty.

Source: https://baodanang.vn/von-chinh-sach-giup-nguoi-dan-thoat-ngheo-3308166.html