The Tủa Chùa District Branch of the Social Policy Bank has proactively developed plans and implemented propaganda, training, and professional development in managing social policy credit capital for 100% of entrusted associations and organizations at all levels, with a focus on loans for poverty reduction and new rural development. As a result, policy beneficiaries, poor and near-poor households, and those facing difficulties in accessing capital for production and business development can easily access preferential loans to invest in their businesses and improve their living standards.
To date, social policy credit has "covered" 100% of communes and towns in the entire district, with a focus on lending to ethnic minority areas, disadvantaged regions, and key investments in areas with high poverty rates and communes building new rural areas. Social policy credit funds are integrated with agricultural and forestry extension work and crop and livestock conversion to effectively achieve the goals of sustainable poverty reduction and new rural development in the locality.
Previously, the family of Mr. Dieu Chinh Luyen was one of the poor households in Huoi Luc village, Tua Chua town. In 2018, his family accessed a loan program for production, business, and job creation from the Social Policy Bank with an amount of 100 million VND. Mr. Luyen's family invested in a garden, pond, and livestock farming model. Thanks to the effective use of the loan capital, his family has a stable income and escaped poverty. Mr. Luyen shared: "With the loan from the Social Policy Bank, I invested in livestock pens for raising buffaloes, pigs, chickens, and dug a pond for fish farming. To date, my family's economic model has developed well, generating an income of 80-100 million VND per year."
The case of Mr. Luyen's family is one of the typical examples of effectively using loan capital to escape poverty and contribute to building new rural areas in the district. According to statistics, the Tủa Chùa District Branch of the Social Policy Bank is currently implementing 15 loan programs. In 2022, the total outstanding debt of policy credit programs was over 422 billion VND, with 8,101 poor households and policy beneficiaries receiving loans. By October 2023, the total outstanding debt of credit programs in the district was over 455 billion VND, with 8,335 households still having outstanding loans. Some programs have large loan volumes, such as: loans to poor households (nearly 33 billion VND); loans to households engaged in production and business in difficult areas (nearly 13 billion VND); and loans to poor and near-poor households (nearly 5.6 billion VND). Loans to newly lifted-out-of-poverty households totaled nearly 3 billion VND… Particularly, the capital allocated for loans to ethnic minority and mountainous households reached over 7 billion VND, accounting for 1.58% of the total outstanding loans; more than 180 households received loans for house repairs and renovations. Each household could borrow a maximum of 40 million VND from policy credit funds.
According to the assessment of the Tủa Chùa District Branch of the Social Policy Bank, policy credit capital has contributed to changing the face of rural areas, improving socio-economic infrastructure, preserving cultural values, maintaining political security, and raising the material and spiritual lives of the people. Although Tủa Chùa district does not yet have any communes recognized as achieving New Rural Area standards, this serves as a foundation and condition for the district to strive towards building New Rural Areas. In the coming time, the Social Policy Bank will continue to closely coordinate with local Party committees, authorities, and entrusted organizations to improve the quality of credit, transaction activities at the commune level, and the activities of savings and loan groups. Regularly review and compile statistics on poor households, near-poor households, and other policy beneficiaries in need of loans to facilitate timely access to capital, contributing to the successful implementation of the National Target Program for Building New Rural Areas in the district.
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