Policy credit capital supports Nam Truc people to develop economy

Officers of the Social Policy Bank of Nam Truc district (left) guide households to borrow capital for production and business.

Staff of the Social Policy Bank of Nam Truc district (left) guides households to borrow capital for production and business.

To effectively promote policy credit capital, the Nam Truc District Social Policy Bank has focused on coordinating with socio -political organizations to effectively implement entrusted lending programs. Through that, the combined strength of the entire political system from the district to the grassroots level has been mobilized to promptly, conveniently and safely transfer social credit capital to poor households and other policy beneficiaries. Socio-political organizations have promoted their strengths in participating in evaluating beneficiaries, managing, urging, and checking the effectiveness of loan use, debt repayment, and interest payment of borrowers, helping to improve the effectiveness of capital use. The district Social Policy Bank has also proactively developed annual targets and plans, promptly transferred capital to beneficiaries and strengthened inspection and supervision of capital use to bring about the highest efficiency; focused on guiding lending operations and fully implementing directive documents related to policy credit programs to Party committees, authorities, and organizations; thereby enhancing the role and responsibility in coordinating management, guidance, and appraisal of documents, ensuring loans to the right subjects, for the right purposes, and effective use, contributing to the implementation of the poverty reduction goal, building advanced and exemplary new rural areas, and ensuring social security in the locality. Every year, based on the capital demand from localities, the Transaction Office flexibly implements solutions to balance credit capital assigned by superiors, accelerates the collection of loans due to organize rotation and disbursement of capital to workers in need of loans.

By the end of April 2025, the total outstanding debt of policy credit programs in Nam Truc district reached more than 542.2 billion VND with 13,505 households still in debt. Outstanding debt of credit programs focuses on loans for clean water and rural environmental sanitation (194.9 billion VND), loans for job creation (104.7 billion VND), loans for newly escaped poverty households (119.5 billion VND), loans for near-poor households (66.1 billion VND). Credit quality is controlled, the bad debt ratio is low, accounting for only 0.15% of total outstanding debt. Since the beginning of 2025, the district's Social Policy Bank has disbursed over 83.5 billion VND to more than 1,200 households borrowing capital to invest in effective livelihood, production and business models, improve income and quality of life, and ensure social security in the district.

In particular, closely following the direction of the Provincial Social Policy Bank Branch, the District Social Policy Bank transaction office has actively promoted the disbursement of preferential credit capital for job creation according to Resolution No. 142/2024/NQ-HDND dated December 10, 2024 of the Provincial People's Council regulating preferential credit policies for sustainable job creation in Nam Dinh province for the period 2024-2030. By the end of April 2025, the District Social Policy Bank had disbursed VND 6.15 billion to 65 borrowers, of which VND 6 billion was disbursed to 63 households borrowing capital for job creation and VND 150 million to 2 households borrowing capital for labor export.

Ms. Bui Thi Phuong in Binh Yen 1 village, Nam Thanh commune said: On average, each month, her family's workshop recycles and casts more than 30 tons of aluminum, so the demand for capital to import raw materials is always high. With the advice of the commune Women's Union, Ms. Phuong's family was able to access and borrow 100 million VND from the job creation program capital of the district's Social Policy Bank in March 2025. "Borrowing capital from the Social Policy Bank does not require collateral, has a preferential interest rate, and a long loan period, so the family can reduce the pressure of debt repayment, focus on production, business, and increase revenue" - Ms. Phuong added. Previously, the economic conditions of Mr. Nguyen Xuan Dieu's family in Xoi Tay village, Nam Thanh commune were very difficult. Many times he intended to go abroad to work, but due to high costs, the family could not manage. By early April 2025, thanks to the guidance of the district's Social Policy Bank staff, Mr. Dieu's family was able to borrow 50 million VND from preferential loans to go to Japan to work. Ms. Vu Thi Huyen (Mr. Dieu's wife) said: "Thanks to the preferential loans from the bank, we have been able to carry out our plan to work abroad. With the new job in Japan, we hope that the family's economy will soon improve; at the same time, we will have some capital to develop the economy, have conditions to repair the house, and stabilize our lives."

In the coming time, the Nam Truc District Social Policy Bank will continue to focus on disbursing capital for programs according to assigned targets; proactively advise the District People's Committee to pay attention to directing the allocation of a portion of capital from the local budget to supplement the trust through banks for lending to poor households and other policy beneficiaries. Timely deploy effective solutions to promptly transfer policy credit capital to beneficiaries. At the same time, coordinate with local authorities, network organizations, and unions to strengthen inspection and supervision, especially regularly checking the use of capital by borrowers, ensuring that borrowers use capital for the right purposes, effectively promoting policy credit capital in the area; strive to "leave no one behind" due to lack of capital.

Article and photos: Duc Toan

Source: https://baonamdinh.vn/kinh-te/202505/von-tin-dung-chinh-sach-ho-tronguoidan-nam-truc-phat-trien-kinh-te-a6025a5/