Policy loans: Giving opportunities and helping people get rich

Over the past years, the credit capital of the Vietnam Bank for Social Policies (VBSP) has become an important support to help thousands of households in Thai Nguyen province develop production, stabilize their lives and build houses. From preferential capital, many effective economic models have been formed, contributing to the goal of sustainable poverty reduction, new rural construction and ensuring social security.

Social Policy Bank tellers work at commune transaction points, guiding Savings and Loan Groups to carry out loan procedures.

Previously, the family economy of Mr. Do Duc Hoat (in group 11, Bac Kan ward) mainly relied on rice cultivation and small-scale livestock farming, so income was unstable. In 2023, he was able to borrow 60 million VND from the job creation loan program of the Bac Kan Social Policy Bank Transaction Office. With capital, he invested in a goat breeding barn.

Thanks to proactive food sources and proper care, after nearly two years, the family's herd of goats has grown to more than 60, bringing in a stable income.

“Thanks to preferential capital from the Social Policy Bank, my family has the conditions to invest in economic models, increase income, stabilize life and strive to become rich legitimately. In the near future, I plan to expand the scale of the barn, invest in more breeds and find a stable consumer market,” Mr. Hoat shared.

Also from policy capital, many other households have boldly changed their production models. A typical example is Mr. Nguyen Nam Hoan, in Nam Cat lake area (Phong Quang commune), who was able to borrow capital from the job loan program to develop cage fish farming. Taking advantage of the large water surface, he invested in 12 cages to raise tilapia, grass carp, red tilapia, etc. Each year, his family also has an additional income of tens of millions of dong, and life is increasingly stable.

Officials of Thai Nguyen Social Policy Bank visited Mr. Nguyen Nam Hoan's cage fish farming model in Nam Cat lake area, Phong Quang commune.

From small but effective economic models, it clearly shows the practical role of the VBSP in accompanying the people. According to Mr. Tran Trong Nghia, Deputy Director of the VBSP Transaction Office in Bac Kan, the unit always closely follows the socio-economic development orientation of the locality, prioritizing capital for models suitable for production conditions, especially livestock, aquaculture and housing support. In addition to lending, bank staff also coordinate with associations and organizations to guide people to use capital effectively and limit overdue debt.

In the northern part of the province, the Bach Thong Social Policy Bank Transaction Office also achieved many positive results. Outstanding loans of policy credit programs increased steadily over the years, the rate of capital recovery and interest was high, hundreds of households were supported with loans to raise buffalo, cows, goats, grow fruit trees or build or repair houses.

Mr. Quan Thanh Tung, Director of the Transaction Office, said: Policy credit capital is truly a support to help people reduce poverty and improve their lives. Bank staff regularly stay close to the grassroots, inspect, urge, and ensure that loans reach the right subjects, promoting practical efficiency.

Not only stopping at providing capital support, the Social Policy Bank also coordinates with the government and entrusted organizations to promote propaganda, consultation, and guidance for borrowers to make production plans, proactively use capital, and form sustainable livelihoods.

Many households after escaping poverty continued to expand production, became well-off, and became advanced models in the economic development emulation movement in the locality.

It can be affirmed that social policy credit capital is not only a financial tool but also a humane bridge, realizing the Party and State's policy on poverty reduction and social security. Thanks to that, thousands of households in remote areas of Thai Nguyen have more opportunities to rise up, contributing to changing the face of the countryside to become more and more prosperous.

Source: https://baothainguyen.vn/kinh-te/202510/von-vay-chinh-sach-trao-co-hoi-tiep-suc-nguoi-dan-lam-giau-c307fef/