Considered a "midwife" for poor households and policy beneficiaries, since the beginning of 2024, policy credit funds have continued to be effective, supporting tens of thousands of households in the province to invest in production and business development. This has significantly contributed to sustainable poverty reduction and social security in the province.
With the determination to "leave no one behind" on the journey to poverty reduction, social policy credit programs are considered a deeply humane initiative, helping tens of thousands of poor households benefit from the policy and achieve stable lives.
Ms. Luong Thi Lien, a Thai ethnic minority resident of Hop Nhat village, said: "With a preferential loan of 50 million VND from the Thuong Xuan District Social Policy Bank's program for near-poor households, my family was able to buy more breeding buffaloes and plant trees. Thanks to this loan, my family has a stable income and has escaped poverty sustainably."
With 14 preferential policy credit programs, the total outstanding loan balance at the Thuong Xuan branch of the Vietnam Bank for Social Policies (VBSP) has reached over 700 billion VND, an increase of more than 110 billion VND compared to the beginning of the year, with nearly 11,500 households still borrowing capital, and an average outstanding loan balance of 60.4 million VND per household. This capital has helped thousands of poor households and other eligible beneficiaries invest in livestock farming, business services, and improve their livelihoods. Following a fixed schedule, regardless of whether it's Saturday or Sunday, the VBSP staff in Thuong Xuan are present at the commune transaction points to disburse loans, collect principal and interest, and conduct other transactions as regulated, aiming to create the most favorable conditions for poor households and eligible beneficiaries who need and qualify for loans.
Social policy credit programs have been widely disseminated throughout the province, becoming one of the fundamental and key solutions to help reduce poverty quickly and sustainably. Policy credit funds have been allocated to 100% of villages and neighborhoods in communes, wards, and towns across the province, helping the poor and policy beneficiaries access capital conveniently and promptly. Political and social organizations at all levels have seriously and fully implemented the assigned tasks, coordinating closely with the Social Policy Bank and local authorities in managing, consolidating, and improving the quality of social policy credit.
As of the end of October 2024, the total outstanding debt of policy credit programs throughout the province reached nearly 14,600 billion VND, with more than 250,000 poor households and other policy beneficiaries still having outstanding debt. In the first 10 months of 2024, social policy credit capital supported investment in production and business, creating jobs for more than 8,500 workers, including over 500 workers going to work abroad on temporary contracts and more than 252 people who had completed their prison sentences finding employment; helped nearly 1,800 disadvantaged students borrow capital for their studies; and built, renovated, and upgraded more than 56,000 clean water and sanitation facilities in rural areas. Supporting the purchase, construction, repair, and renovation of 108 social housing units for policy beneficiaries, contributing to economic stability and development, ensuring social security, and successfully implementing the task of preferential credit investment for National Target Programs on sustainable poverty reduction, rural development, and socio-economic development in ethnic minority and mountainous areas.
To contribute effectively to the implementation of policies and goals for sustainable poverty reduction and social security in the province, the Vietnam Bank for Social Policies (VBSP) in Thanh Hoa is continuing to promote awareness campaigns, increase the mobilization of savings deposits from the community, and supplement loan capital for poor households and other policy beneficiaries at commune transaction points. The VBSP is strictly adhering to the loan approval process at savings and loan groups, ensuring transparency, openness, and full participation in meetings as stipulated. Emphasis is placed on pre-loan monitoring to ensure borrowers are eligible, meet loan conditions, and have effective loan utilization plans. Simultaneously, the VBSP is coordinating with political and social organizations to provide training for entrusted staff, focusing on newly issued credit policies, especially planned inspection and monitoring methods; and improving the efficiency of operations at commune transaction points and savings and loan groups. In addition, organizing transaction activities well at the commune, ward, and town levels, and operating operational mechanisms and transaction software effectively will ensure that preferential loans reach the right recipients in a timely and efficient manner.
Text and photos: Khanh Phuong
Source: https://baothanhhoa.vn/ba-do-cua-ho-ngheo-va-doi-tuong-chinh-sach-228746.htm
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