Policy credit has created widespread effects in poverty reduction, job creation and improvement of the material and spiritual life of ethnic minorities in the locality.
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| Near-poor households in Quang Long commune (Ha Lang district) build stables and develop livestock from policy capital. (Photo: nhandan.com.vn) |
Recently, the family of Mr. Hoang Van Trong, Ms. Luc Thi Thu, from Bo Chia hamlet, Quang Long commune, Ha Lang district, were honored to receive a certificate of merit from the General Director of the Vietnam Bank for Social Policies for using the concessional credit capital for the right purposes and effectively.
He said: “Without policy credit, my family would not have a good life like today”. From borrowing 7 million VND in 2003 to invest in buying buffaloes and cows, then turning the capital, continuing to accumulate, until 2019, Mr. Trong borrowed another 25 million VND under the housing loan program to build a spacious house. In addition, his family also borrowed 65 million VND under the loan program for near-poor households to invest in building a barn system, raising five breeding buffaloes and 10 pigs.
Visiting a good business model in Ky Lac hamlet, Quang Long commune, we were quite surprised to see a valuable car next to the floor. The owner is a veteran, good farmer, Nong Duc Hanh, pointing to the car, said that he bought the car worth of more than 700 million VND from the profit of selling tangerines and dragon fruit.
Currently, Mr. Hanh owns an orchard with 600 mandarin trees and 100 dragon fruit trees. The family’s income from selling fruit is about 150 million VND a year. In the early 2000s, Mr. Hanh’s family was a poor household. After absorbing the policy and being determined to escape poverty, he borrowed preferential credit to buy buffaloes and cows and raise goats. Gradually, his family switched to growing fruit trees that brought sustainable economic benefits.
Secretary of the Ha Lang district Party Committee Vu Khac Quang affirmed that social policy credit is the fulcrum and motivation to help the socio-economic development in the poor district of Ha Lang prosper. Especially in border areas, local disadvantaged areas in which investment resources for production development are limited, social policy credits have been like “midwives” helping people have investment capital and develop.
Director of the Transaction Office of Ha Lang District Bank for Social Policies Dam Thi Thu shared that the unit promoted synergy in the implementation of social policy credits for non-profit to bring capital to the right subjects. For example, in the border commune of Thi Hoa, after meeting the new-style rural standard, the loan source for poor and near-poor households in the area decreased. The Transaction Office flexibly allocated and increased the capital to solve jobs, helping people in border areas stabilize preferential loans, thereby, investing and developing production.
Director of the Vietnam Bank for Social Policies in Cao Bang Nguyen Thi Phuong said that so far, the total outstanding balance of 19 loan programs is nearly 3,230 billion VND, of which, bad debts equal to 0.1% of total outstanding loans. Thousands of households have escaped poverty and become well-off, being a clear demonstration of the effectiveness of preferential credit policy programs. In the coming time, the Branch will strengthen coordination with mass organizations and social organizations to implement measures to use preferential credit capital for the right purposes and effectively./.