Credit policy contributes to poverty reduction in Que Son

Staff of the Transaction Office of the Bank for Social Policies in Que Son district visited the economic development model using policy credit capital. Photo: VIET QUANG

As of March 31, the total outstanding policy credit balance in Que Son district reached nearly 781 billion VND (an increase of nearly 14 billion VND compared to the beginning of the year) with 12,555 customers still having outstanding debt.

The transaction office of the Bank for Social Policies (CSXH) in Que Son district is implementing 17 policy credit programs including loans for job creation, loans for poor households, near-poor households, newly escaped poverty households, loans for students, social housing loans, etc.

Thanks to the effective implementation of credit programs, outstanding loans ensure stable growth. The average outstanding loan balance per borrower in 2024 is 60.69 million VND/household. The average outstanding loan balance per borrower is increasing, thereby ensuring investment capital for people's production and business.

According to Mr. Nguyen Van Trung - Director of the Transaction Office of the Social Policy Bank of Que Son district, credit growth is a key task, so the unit strives to promote its combined strength and implement effectively, thereby successfully completing the planning targets assigned by superiors.

Determined to increase credit growth quickly and sustainably, the Transaction Office of the Bank for Social Policies in Que Son district promptly advised the District Party Committee, People's Council, and People's Committee to issue directive documents on policy credit as well as implementation work in the area.

Right from the beginning of the year, the unit coordinated with communes and towns to urgently build annual capital needs for each loan program; set up documents in advance so that when there is a capital allocation target, it can be disbursed immediately. "To increase outstanding debt, we must not let capital stagnate," said Mr. Trung.

In recent times, the Transaction Office of the Social Policy Bank of Que Son district has focused on disseminating preferential credit policies to people through associations, organizations receiving capital trust, and savings and loan groups (S&LV groups). The unit has enthusiastically guided people on loan implementation, loan reconciliation, and interest collection so that people clearly understand their rights and fulfill their obligations to pay interest and principal according to regulations.

Credit officers assigned to communes and towns regularly monitor due debts and promptly notify borrowers 2-3 months in advance so that borrowers can proactively find financial resources to repay due debts. Thanks to good debt collection, credit capital turnover increases rapidly, contributing to improving the efficiency of capital use and the quality of preferential capital from the State.

Mr. Nguyen Van Trung said that to ensure outstanding loan growth, credit officers of the transaction office regularly stay close to the area, coordinate with associations and organizations entrusted to strengthen the activities of the savings and credit team. The method is to replace the senior savings and credit team leaders who are not up to the task, regularly train and improve the professional capacity of the savings and credit team leaders.

“Policy credit officers actively participate in start-up forums and consulting seminars on building new production, business, livestock and crop models to promptly supply capital and create a ripple effect on the effectiveness of policy credit capital,” said Mr. Trung.

Source: https://baoquangnam.vn/chinh-sach-tin-dung-gop-suc-giam-ngheo-o-que-son-3153322.html