Policy capital creates sustainable livelihoods.

Policy-based credit is becoming a leverage that helps many households in Hoa Vang break through, build economic models generating hundreds of millions of dong in income, and create sustainable livelihoods.

Preferential loan capital helped Mr. Phan Van Hung build a mushroom farm with a scale of 550m2. Photo: HA

Social policy credit programs in Hoa Vang commune have been implemented promptly, targeting the right beneficiaries and practically meeting the aspirations of the people. This capital plays a key role in implementing policies on building new rural areas, developing human resources, and ensuring social security. Thanks to access to preferential capital from the Social Policy Bank, many households have boldly invested in livestock and crop farming models, sustainably increasing their income.

A prime example of overcoming adversity is the mushroom farming model of Mr. Phan Van Hung (Cam Toai Dong village). Having struggled through various jobs with unstable incomes, in 2017, a turning point came for him when he accessed a loan from the Hoa Vang branch of the Social Policy Bank. From there, he began experimenting with cultivating oyster mushrooms, reishi mushrooms, and cordyceps.

Mr. Huynh Ngoc Nam invested in a freshwater fish and snail farm on 4.5 hectares using a loan to support job creation. Photo: HA

Thanks to financial support, Mr. Hung has now developed 5 mushroom farms with a total area of ​​550m2. On average, he supplies about 30kg of purple oyster mushrooms to the market each day at a price of 50,000 VND/kg. During holidays, Tet (Lunar New Year), or full moon days, the consumption volume increases tenfold, reaching 300-400kg/day. In addition, he also supplies dried reishi mushrooms at prices ranging from 800,000 VND to 1,000,000 VND/kg.

The model generates an income of 300-400 million VND per year for the family, while also creating stable jobs for 3 local workers with salaries of 5-7 million VND/month. Mr. Hung shared: “To have this business, in addition to personal efforts, preferential capital from the Social Policy Bank played a key role. Timely support, especially after the production disruption due to the COVID-19 pandemic, has helped me maintain and develop the business stably as it is now.”

Similarly, in 2020, Mr. Huynh Ngoc Nam (Khuong My village) accessed a loan from the Hoa Vang Social Policy Bank's job creation support program. He boldly invested in a 4.5-hectare farm, focusing on developing a freshwater fish and snail farming model. Thanks to the application of modern techniques and proactive market research, his model has yielded significant economic benefits. Currently, the farm has 5 ponds (including 2 ponds for tilapia and 3 ponds for snails), bringing in an average income of over 200 million VND per year.

Policy-based capital was disbursed promptly and to the right recipients, helping people in Hoa Vang commune develop production. Photo: HA

The effectiveness of policy credit is not only reflected in the success of individuals but also in the professional operation of the local management system. Ms. Nguyen Thi Bich Hanh, Head of the Cam Toai Dong Savings and Loan Group (Hoa Vang commune), said that the group is managing over 4.6 billion VND with 57 borrowing households. Thanks to close supervision and thorough dissemination of information, most households use the capital for its intended purpose and invest effectively in production and services. The people's awareness of repaying principal and interest has improved, contributing to building a healthy credit environment.

Ms. Nguyen Thi Quynh Nga, Deputy Director of the Hoa Vang branch of the Social Policy Bank, said that the job creation loan program is a practical support channel to help rural workers expand their businesses. The unit is focusing on implementing diverse loan packages for poor and near-poor households, students, and for clean water and sanitation projects. Disbursing funds to the right recipients not only boosts household economies but also helps combat illegal lending and ensures local security. In the future, the unit will continue to closely coordinate with Party committees, authorities, and mass organizations to maximize the effectiveness of the capital.

Affirming the value of this capital flow, Mr. Le Phu Nguyen, Chairman of the Hoa Vang Commune People's Committee, said that preferential loans from the Social Policy Bank have become a solid foundation for the people. Thanks to this, many poor households and policy beneficiaries have additional resources to develop production and business, improve their income, and sustainably escape poverty. The locality is committed to closely coordinating with the bank to optimize the effectiveness of the capital, considering this a key task in socio-economic development and improving people's lives.

Source: https://baodanang.vn/von-chinh-sach-tao-sinh-ke-ben-vung-3339252.html