Thursday, 12/10/2017 06:39 (GMT+7)
Over 40,000 families in the central province of Khanh Hoa have escaped poverty, thanks to access to credit loans for production and business.
Women in Ninh Phuoc commune, Ninh Hoa town, develop high value garlic production thanks to the credit. (Photo: VNA)
The results were brought about after 15 years of implementation of the Government’s Decree 78/2002/ND-CP dated October, 2002, on credit for poor people and beneficiaries.
Among 13 credit programs of the Khanh Hoa provincial Bank for Social Policies, the program giving credit to poor families is a key program to realise rapid and sustainable poverty reduction. Accordingly, each poor family is provided loans worth VND50 million at maximum each time, and may be given loans several times until they escape poverty. The turnover for the program reaches VND1.6 trillion. So far over 11,000 poor families have been given loans, worth over VND267 billion.
Similarly, the loan program for nearly-poor families has disbursed over VND425 billion, benefiting over 18,000 families. Assessment shows that the loans have helped poor and ethnic minority families in mountainous areas change their production practices, apply advanced technology and new seedlings into agricultural production, which bring greater productivity and value. As a result, the lives of poor and ethnic minority families have been improved.
According to the provincial Bank for Social Policies, credit programs for poor and beneficiaries’ families have satisfied more and more the demand for loans, with the total credit worth VND2.225 trillion, an increase of 20 times compared to 2003.
The province targets to give credit to 100% of poor and beneficiaries’ families by 2020./.
Compiled by BTA