Credit policies help Khmer people boost economic development

Khmer people develop breeding industry. (Photo: baoangiang.com.vn)

As of May 31^st, the outstanding balance was estimated at over VND2.829 trillion, with over 167,000 customers; of which over VND215.66 billion was for 17,568 ethnic minority families.

The loans have mainly been spent boosting agricultural, forestry, breeding production; building and repairing houses; building safe water systems; sanitizing the environment; and supporting educational fees, thus improving and raising local residents’ quality of life, helping them master new ways of production among millions of poor families and beneficiaries’ families, especially those in poor, disadvantaged and remote areas. “Meanwhile, ethnic minority people have been more confident with advanced commodity production and market mechanism,” said Mr. Hoanh.

To facilitate people in having easy access to loans, the bank has developed transaction locations in communes. As of late May, 156 communal transaction locations were established, helping reduce transaction fees for the lenders, especially for ethnic minority people in remote areas, where they meet difficulties in travel.