"Extended arm" of policy credit capital in Hiep Duc

Ms. Tran Thi Da - Head of the Savings and Credit Group of Binh Kieu village and representatives of the Transaction Office of the Social Policy Bank of Hiep Duc district visited the economic model of Mr. Tran Quoc Hiep's family. Photo: PV

Responsible team leader

Having the business they have today, Mr. Tran Quoc Hiep and Ms. Ngo Thi Ngọt (living in Binh Kieu village, Hiep Hoa commune, Hiep Duc district) cannot forget the difficult days when they moved out to live separately in 2005. At that time, the couple's biggest asset was only a small piece of land granted by the State to build a house.

Later, through the Savings and Loan Group (SLC) of Binh Kieu village, Mr. Hiep's family accessed preferential loans from loan programs for production forest planting, livestock development; job creation; clean water and rural environmental sanitation of the Vietnam Bank for Social Policies (VBSP).

With 170 million VND in preferential loans from the programs, the family has invested in afforestation, livestock farming, etc., and now has a property with 2 hectares of acacia, 1 hectare of rubber, and a pig farm with 60 pigs and nearly 10 sows at its peak.

In addition, the family also invested in rice milling machines, billiard services, and wine making to serve local people, earning hundreds of millions of dong each year.

Mr. Hiep shared: “The preferential loan capital from the Social Policy has helped my wife and I boldly invest in economic development, bringing in a stable income. Thanks to that, we have been able to buy land, build a new house and take care of our children's education” - Mr. Hiep shared.

Mr. Hiep's family is one of dozens of households accessing social security capital through the Savings and Credit Group of Binh Kieu village. With her dedication and wholeheartedness to the people, in 15 years of working, Ms. Tran Thi Da - Head of the Savings and Credit Group of Binh Kieu village has supported many families to access loans, contributing to escaping poverty and having a prosperous life.

Up to now, the Savings and Credit Group of Binh Kieu village has managed 57 households with loans, outstanding debt of more than 7.1 billion VND (average outstanding debt of 126 million VND/household); no overdue debt. The savings balance of the group members to date is more than 301 million VND, with 100% of the group members participating in monthly savings.

Sharing about her work, Ms. Da said: “I am not good at anything, but I work with prestige and responsibility, so I am trusted by banks and borrowers, making the interest collection process easier. When people have needs, I create conditions and provide maximum support.

In addition, I also have to grasp and understand each case and circumstance to manage capital well; especially not to let capital "die", when a household pays back the capital, I introduce it to other households to borrow. Seeing people get loans, then the economy develops and goes up is the joy that makes me passionate and attached to the job".

The "extended arms"

Recently, the Transaction Office of the Social Policy Bank of Hiep Duc district has proactively advised the District Party Committee and the District People's Committee to direct the Party Committees and People's Committees of communes and towns to thoroughly grasp and implement Directive No. 40, dated November 22, 2014 and Conclusion No. 06, dated June 10, 2021 of the Secretariat on strengthening the Party's leadership over social policy credit.

Mr. Tran Van Hiep (middle) and his wife have a comfortable life thanks to the effective use of social credit capital. Photo: PV

Thereby, enhancing the role and responsibility of Party committees and local authorities in leading and directing policy credit activities.

Each lending program as directed by the Government is organized and implemented promptly. Credit capital is allocated to 46/46 villages and residential blocks and is focused on investing in industries, crops, and livestock that are suitable for the socio-economic development orientation of the district.

Mr. Ngo Quang Do - Deputy Director of the Transaction Office of the Social Policy Bank of Hiep Duc district said that there are currently 141 savings and credit groups in the area, which are the "extended arms" of the Social Policy Bank.

The total outstanding debt as of June 24, 2024 of the locality reached more than 383.7 billion VND with 18 loan programs, with 5,883 households borrowing capital (the outstanding debt increased by more than 15.6 billion VND compared to December 31, 2023, the outstanding debt growth rate reached 4.25%).

Loan turnover in the first 6 months of the year reached over 72.6 billion VND, debt collection turnover reached over 55.5 billion VND; overdue debt accounted for 0.025% of total outstanding debt; total interest revenue from the beginning of the year to June 24 was over 13.4 billion VND, reaching a rate of 100%.

The disbursement work is planned weekly and monthly by the unit to be proactive when receiving capital allocation notices from superiors and to disburse revolving debt collection capital.

Thereby, it has basically met the capital needs of 1,124 poor households, near-poor households, newly escaped poverty households and other policy beneficiaries to invest in production, business, housing construction, clean water construction...

Mr. Ngo Quang Do assessed that social credit in the district has been effectively implemented, with the important role and contribution of the team of collaborators in charge of savings and credit groups.

Without the enthusiasm and passion of collaborators, social credit programs will hardly succeed. Thereby, contributing to ensuring the promotion of State capital in sustainable poverty reduction, helping people have a better life.

Source: https://baoquangnam.vn/canh-tay-noi-dai-von-tin-dung-chinh-sach-o-hiep-duc-3137089.html