Join hands for the poor, policy
The total outstanding policy credit balance of Quang Nam as of June 30 reached over VND7,842 billion. Of which, the outstanding balance entrusted through the Provincial Women's Union reached over VND3,159 billion (accounting for 40.4%).
Ms. Dang Thi Le Thuy - President of the Women's Union said that the unions at all levels closely coordinated with the Vietnam Bank for Social Policies (VBSP) Quang Nam branch and local authorities to effectively carry out information work so that people know about preferential loan programs to access and invest in economic development.
To make preferential capital effective, the Women's Union at all levels focuses on guiding borrowers through vocational training, job creation, and product consumption connections.
The Provincial Women's Union has supported women to participate in economic development models, integrated with national target programs, projects, and plans, especially the project "Supporting women to start businesses in the period 2017 - 2025" with thousands of start-up ideas accessing preferential capital for development and replication.
The Provincial Women's Union regularly consolidates, improves and enhances the quality of operations of savings and credit groups (S&C Groups) by evaluating borrowers well, urging borrowers to repay principal, interest and deposit savings.
In particular, resolutely handle households that deliberately delay debt repayment, households that leave the locality... Thanks to that, credit quality is maintained stably, currently the overdue debt ratio only accounts for 0.04% of outstanding debt.
Up to now, the outstanding balance of 19 policy credit programs entrusted by the Provincial Farmers' Association has reached over VND2,487 billion (accounting for 31.8%). Notably, the annual interest rate has reached 100%; more than 99% of households borrowing capital have participated in savings; credit quality has been maintained stably.
The Veterans Association has received over VND1,034 billion in policy credit (accounting for 13.9%), managing 485 Savings and Credit Groups in 195 communes, wards and towns; average outstanding debt of VND2,167 billion/group; average VND55 million/household.
Monthly interest collection reached 100%; members complied with the operating regulations, used the loan capital for the right purpose, and paid the principal and interest on time. The Provincial Youth Union received over 1,038 billion VND (13.9%) in policy capital entrustment. Loan entrustment activities have helped the Youth Union develop the economy more and more effectively.
Need to promote propaganda and consultation
Besides many achievements, preferential loan entrustment activities in Quang Nam still face some challenges. Mr. Nguyen Tan Thanh - Chairman of the Provincial Veterans Association said that the propaganda work in some places is not timely, some poor households and policies have not fully fulfilled their obligations after borrowing capital.
The leaders of the Savings and Credit Groups in some places have not met the requirements; overdue debts are high. The inspection and supervision of the activities of the Savings and Credit Groups and borrowers is still formal and of poor quality...
“It is necessary to promote preferential credit to the people more effectively; at the same time, consolidate and improve the quality of operations of the Savings and Credit Group. Strengthen inspection, supervision, and collection of overdue debts, outstanding interest debts, and misappropriated debts, and prevent the emergence of new overdue debts and outstanding interest debts. The provincial Social Policy Bank needs to organize training, coaching, and fostering to improve the professional skills of officers assigned to manage entrusted capital,” said Mr. Thanh.
According to Secretary of the Provincial Youth Union Pham Thi Thanh, in addition to the achieved results, policy credit entrustment activities still have certain limitations. Some localities and units have not done a good job of guiding union members and youths to build economic models; supported loans but have not yet evaluated the effectiveness after lending...
Some commune-level youth union units have not really paid attention to inspecting and supervising the Savings and Credit Groups, especially inspecting the use of loans by group members, and have not urged debt collection and savings deposits.
The review of loan demand in some districts, towns and city unions is not really accurate, leading to the fact that young people have little access to preferential capital. The provincial Youth Union will coordinate with relevant agencies to remove "bottlenecks" so that policy credit can continue to promote its role in creating momentum for socio-economic development.
Enhancing the responsibility of socio-political organizations
Comrade Luong Nguyen Minh Triet - Alternate member of the Party Central Committee, Secretary of the Provincial Party Committee said that socio-political organizations receiving preferential loans from the Vietnam Bank for Social Policies, Quang Nam branch, need to be responsible for fully implementing the entrusted contents; closely coordinate with functional agencies to consolidate and improve the quality of policy credit activities.
Farmers', Women's, Veterans' and Youth Unions need to be impartial, open and democratic in guiding the assessment of borrowers; strengthen inspection, supervision and collection of debts on time, and guide borrowers to use capital effectively; integrate with programs and projects of socio-political organizations. It is necessary to do a good job of consulting, guiding the construction and replication of typical production and business models, helping each other to escape poverty sustainably and get rich.
Source: https://baoquangnam.vn/cach-quang-nam-dan-von-uu-dai-den-ho-ngheo-chinh-sach-3138363.html
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