Access to loans from credit channels has helped farmers in Loc Ha (Ha Tinh) have stable livelihoods, escape poverty sustainably, and gradually become prosperous.
Coming from a poor background, living purely on agriculture, and having to support 5 children to go to school, the family of Nguyen Nhu Nuoi and Nguyen Thi Linh in Yen Dinh village (Thinh Loc commune) was on the list of poor households for many years. To break away from poverty, 4 years ago, Nuoi and Linh went to the Social Policy Bank of Loc Ha district to borrow 80 million VND and the Bank for Agriculture and Rural Development, Loc Ha branch, borrowed 40 million VND for capital for livestock farming. When selling their livestock, they would pay it back and when needed, they would borrow again for production. Thanks to being given favorable conditions to borrow capital for production, they had the "key" to open the door to sustainable poverty escape.
The loan has helped Mr. Nuoi and Ms. Linh's family (Thinh Loc commune) develop a large herd of livestock.
Ms. Nguyen Thi Linh shared: “Through the Farmers' Association of Thinh Loc commune, we not only receive vocational training, go on field trips to learn experiences, and know how to apply science and technology to production, but also receive favorable conditions to borrow capital to do business. Currently, my farm has 7 cows, maintains 25 goats, 16-40 pigs, 40-80 chickens/batch... We produce our own animal feed with 1 mau of rice, 5 sao of corn, and 5 sao of potatoes. After deducting all expenses, we have a profit of about 120 million VND/year, enough to raise our children to study, escape poverty sustainably, and gradually become well-off.”
Like the family of Mr. Nuoi and Ms. Linh, currently in Loc Ha, there are thousands of households effectively using loans from credit channels through the trust of the farmers' association. Cash flow from banks and credit funds is effectively used in all areas of production, business, housing construction, purchasing fishing gear and agricultural tools... Among them are the households of Ms. Duong Thi Binh (grocery store), Tran Thi Xuan (raising pigs and cows) in Hong Loc commune; Nguyen Thi Quyet, Le Thi Nhung (both raising cows in captivity) in Thach Chau commune; Dao Van Binh (raising and trading buffalo) in Loc Ha town...
Thanks to access to loans from the Social Policy Bank of Loc Ha district, Ms. Tran Thi Xuan (in Hong Loc commune) has developed livestock farming to escape near-poverty.
To help farmers access capital, farmers' associations at all levels in Loc Ha have played their role as "bridges". Mr. Dao Van Anh - Chairman of the Farmers' Association of Mai Phu commune informed: "The whole commune has 285 members borrowing capital from the Bank for Agriculture and Rural Development (nearly 14 billion VND) and the Bank for Social Policies (nearly 9 billion VND). The entrusted loans of the banks are well managed, implemented in accordance with regulations, and promoted effectively. Having capital for production and business has helped reduce the poverty rate among farmers to 3.8%, built 49 effective production models, and the average income of farmers reached 52.2 million VND/person/year...".
With their functions and tasks, banks and credit funds in Loc Ha have well implemented the motto of "understanding the people's hearts, serving wholeheartedly". Mr. Tran Anh Duc - Director of the Transaction Office of the Social Policy Bank of Loc Ha district said: "We always create maximum conditions for customers (especially farmers) to borrow capital. Currently, the unit's outstanding debt has reached 101 billion VND with 1,967 farming households in all localities borrowing. Through loan packages, people have more resources for production, overcome the shortage of capital, prevent "black" credit, create more jobs on the spot, stabilize livelihoods, "support" children to go to school, households build solid houses...".
Loc Ha District Social Policy Bank processes loans for customers to develop production and business.
Ms. Tran Thi Bich Ha - President of Loc Ha Farmers' Association assessed: Farmers' associations at all levels in the area have coordinated with credit channels to help about 2,600 member households (currently) borrow money to do business, send their children to school, go abroad to work, build houses... Currently, the total outstanding loans from banks to farmers has reached nearly 165 billion VND, of which: Social Policy Bank 101 billion VND, Agriculture and Rural Development Bank over 58 billion VND, Lien Viet Post Bank 3 billion VND, credit funds over 3 billion VND.
“Credit institutions have made an important contribution to the past 5 years (2017 - 2023) when farmers in Loc Ha built 6 high-tech agricultural production models, 665 households escaped poverty sustainably (the poverty rate has now decreased to 6.8%). Currently, the whole district has 7,261 households recognized as excellent producers and traders at all levels, with an average income of 49 million VND/person/year (10 million higher than in 2017). Loan capital is also considered a "driver" for agricultural production to achieve an average growth rate of 13.4% per year and the total value of agricultural production currently reaches 1,040 billion VND/year" - Ms. Tran Thi Bich Ha added.
Tien Phuc - Tran Vuong
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