Da Nang - Policy credit like a cool stream

Spring comes like a bustling symphony, bringing with it new vitality and far-reaching dreams of the coastal city of Da Nang. In the space filled with spring colors, the story of social policy credit (CSXH) is like a cool stream, watering the young buds of hope. It is not only a story about numbers, but also a journey of compassion, the cooperation of the entire political system to bring a better life to the people.

Local economic leverage

According to Mr. Doan Ngoc Chung, Director of the Da Nang City Social Policy Bank, in the context of climate change, rapid urbanization and the consequences of the Covid-19 pandemic causing many socio-economic fluctuations, social policy credit has become an important support for many disadvantaged households in Da Nang. Preferential capital helps to promptly meet the needs of production development, business, study and social housing investment. The impact of these programs helps Da Nang successfully implement the programs "5 no", "3 yes" and "4 safe", especially the goal of sustainable poverty reduction.

Thanks to financial incentives from the Vietnam Bank for Social Policies, many poor and near-poor households and policy beneficiaries have overcome difficulties, escaped poverty sustainably, increased income and improved quality of life.

During the 2014-2024 period, the VBSP disbursed VND 11,090.55 billion and collected VND 7,178.04 billion in debt; the VBSP's social credit activities helped 247,164 poor households and other policy beneficiaries to borrow capital.

Thanks to the social credit capital, the 2016-2020 Poverty Reduction Project was completed 2 years ahead of schedule, with 20,293 households escaping poverty (including 6,514 poor households according to the Central standards); jobs were created, maintained and expanded for 140,400 workers; 10,946 students received loans to cover their study expenses; loans were provided to build, upgrade and renovate 49,795 new clean water and environmental sanitation facilities.

With continuous efforts, the People's Credit Fund of Da Nang City has contributed to the success in sustainable poverty reduction and strengthening social security.

Effective implementation of Directive 40-CT/TW

The dissemination, dissemination and implementation of Directive No. 40-CT/TW and Conclusion No. 06-KL/TW of the Secretariat have been carried out extensively and seriously by Party committees at all levels, agencies, units and localities. This is the foundation for social credit to become an effective tool in poverty reduction and socio-economic development.

Specifically, authorities at all levels have identified leadership and direction of social policy credit as a regular task in the program of activities. The city has issued many leadership documents, proactively arranged the budget entrusted through the Vietnam Bank for Social Policies, linked the mobilization and use of capital sources with agricultural and rural development, vocational education, job creation and social security. This helps Da Nang meet the needs of the people, making great strides in sustainable poverty reduction goals.

Thanks to the coordination of the Vietnam Fatherland Front and entrusted socio-political organizations, the propaganda work on social credit has been promoted. These organizations actively guide, inspect, and supervise the effective use of loans, replicate typical production and business models, help people escape poverty and gradually become rich.

In particular, after 10 years of implementing Directive No. 40, social credit has helped Da Nang achieve remarkable results: 247,164 poor households and policy beneficiaries have received loans; more than 20,000 households have escaped poverty, nearly 140,400 workers have jobs; thousands of clean water and environmental sanitation projects have been built. Social credit programs have contributed to poverty reduction, limited black credit, and motivated people to improve their lives.

Improve credit quality

To ensure that capital is used effectively, the branch implements many measures such as: strengthening inspection before, during and after lending, closely coordinating with associations, unions and local authorities. Thanks to the active participation of the Savings and Credit Group, training and professional training are carried out regularly.

Mr. Chung emphasized: “Human factor is the decisive factor in credit quality”. Accordingly, the branch focuses on training, especially improving professional capacity and ethics for staff.

With its continuous efforts, the Social Policy Bank of Da Nang City has contributed to the success of sustainable poverty reduction and social security enhancement. In the future, these programs will continue to be promoted, contributing to narrowing the gap between rich and poor and bringing a better life to the people.

Source: https://thoibaonganhang.vn/da-nang-tin-dung-chinh-sach-nhu-dong-suoi-mat-lanh-160114.html