Policy-based capital helps people escape poverty.

Mr. Ha Van Trung, from Hamlet 9, Lanh Ngoc Commune, harvesting oranges. Photo: N. Hung

Owning nearly 2 hectares of hillside garden land, Mr. Ha Van Trung (village 9, Lanh Ngoc commune) wants to renovate it to plant fruit trees but faces difficulties with capital.

Thanks to a local referral, Mr. Trung was able to access a preferential loan of 100 million VND from the Tien Phuoc Branch of the Social Policy Bank under the Job Creation Loan Program. Using this loan and his savings, Mr. Trung and his wife invested in improving their land to plant approximately 200 green pomelo, orange, durian, and banana trees, and nearly 5,000 Tien Phuoc betel nut trees; they also built pens to raise nearly 200 hybrid wild boars.

Thanks to hard work, in just over 5 years, Trung's family's integrated farming and livestock model has provided a stable income of approximately 250 million VND per year after deducting expenses.

Officials from the Tien Phuoc branch of the Social Policy Bank guide residents of Lanh Ngoc commune through the loan application process. Photo: N. Hung

Alongside fruit tree cultivation and raising hybrid wild pigs, Mr. Trung and his wife invested in planting about 10 hectares of hybrid acacia trees, averaging an income of about 100 million VND per year. Their total annual income exceeds 350 million VND, helping Mr. Trung's family achieve economic stability and become a well-off household in the locality.

Also in Hamlet 9, Lanh Ngoc Commune, thanks to accessing a 100 million VND loan from the Social Policy Bank, Ms. Huynh Thi Phuong and her husband boldly invested in developing a garden-pond-livestock farming model. “Thanks to the effective use of policy credit, our family has not only repaid all the principal and interest but also has the means to build a spacious house. It can be said that the capital from the Tien Phuoc Social Policy Bank is a support system that helps us farmers rise out of poverty and stabilize our lives,” Ms. Phuong said.

Officials and leaders of the Tien Phuoc branch of the Vietnam Social Policy Bank survey the economic models of households using loan capital. Photo: N. Hung

Mr. Phan Hong Nhat, Deputy Director of the Tien Phuoc Branch of the Social Policy Bank, said that to ensure preferential loan capital reaches people promptly, the branch coordinates with socio- political organizations to maintain the effective operation of savings and loan groups, disbursing funds monthly at the commune's transaction point. Thanks to the rapid and effective implementation, people have the opportunity to do business, develop production, improve their living standards, and contribute to achieving the goal of building an advanced new rural commune.

To date, the policy credit capital managed by the Tien Phuoc Branch of the Social Policy Bank has implemented many preferential loan programs such as: loans for poor households, near-poor households, newly escaped poverty households; households engaged in production and business in disadvantaged areas; loans for clean water and rural sanitation…

The entire Lãnh Ngọc commune has 44 savings and loan groups, with over 1,680 customers and a total outstanding loan balance exceeding 7 billion VND. Preferential credit capital has become an important support, helping poor households and policy beneficiaries improve their income, stabilize their lives, and gradually rise out of poverty.

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