Small capital but great meaning. Photo: A Luoi District Social Policy Bank

Not only does this capital help people escape poverty, it also motivates them to expand production, contributing to job creation and promoting sustainable poverty reduction in the locality.

Grow from small capital

Mr. Ho Van Phuc's family (A La village, Hong Thai commune) used to be poor, their lives mainly depended on a few hectares of planted forests and state support. However, the turning point came to his family in 2021 when the VBSP lent him 30 million VND under the poor household lending program.

“Previously, due to lack of capital, even though I had land, I could not invest in developing farming and livestock. Thanks to this loan, I invested in renovating 1 hectare of forest, raising pigs and chickens, thereby having more income,” Mr. Phuc shared.

Not stopping there, in 2024, after paying off the principal, he continued to borrow another 50 million VND to expand cattle farming and dig fish ponds. Now, his family's economy is more stable than before and he has the conditions to take care of his children's education. Mr. Phuc was excited: "With capital and a business plan, I don't have to worry about poverty anymore. I am calculating to develop more livestock models to increase income in the coming years."

Similarly, the family of Ms. Ho Thi Thau (Kaleng A Bung village, Quang Nham commune) is also one of the households that escaped poverty thanks to preferential loans. In 2020, she borrowed 50 million VND to invest in pig farming. After 3 years of perseverance and hard work, she repaid the loan in full and continued to borrow another 50 million VND to buy a pair of breeding cows and use the garden land to raise chickens.

“In the past, my family was very poor and lacked capital for everything. Thanks to the support of the Social Policy Bank, I was able to invest in livestock farming and develop the economy. Now, in addition to livestock farming, my family also has income from forestry, enough to pay for the education of two children. I will continue to use the loan for the right purpose, try to pay the interest in full and repay the principal on time," said Ms. Thau.

Leverage for economic development

According to Mr. Dang Van Tan, Director of the Transaction Office of the Social Policy Bank of A Luoi district, as of the end of February 2025, the total outstanding debt in the area had reached more than 596 billion VND, with 10,502 households borrowing capital.

“We have implemented 16 policy credit programs such as: Loans for poor households, near-poor households, and households that have just escaped poverty; loans for students in difficult circumstances; clean water supply and rural environmental sanitation; job creation, overseas labor contracts, social housing, housing support for poor households... These programs have contributed to reducing the situation of high-interest loans and illegal credit, helping people have conditions to develop production and business, increase income and improve the quality of life,” Mr. Dang Van Tan informed.

To make policy credit sources effective, the A Luoi District Social Policy Bank coordinates with local authorities, associations, unions and savings and loan groups to advise and support people in making production plans before borrowing capital. At the same time, it strengthens inspection and supervision of capital use, ensuring that loans reach the right subjects, for the right purposes and bring the highest efficiency.

“In the coming time, we will continue to mobilize capital from the Central Government, local budgets and social resources to expand lending, meeting people's capital needs. At the same time, we will review households in need of loans to propose additional credit programs suitable to local characteristics, helping people develop sustainable livelihoods and proactively escape poverty,” Mr. Tan affirmed.

With the support of the VBSP, many poor households in A Luoi have gradually stabilized their lives and escaped poverty sustainably. Small but meaningful capital has become a solid "fulcrum" for people to step by step rise up and confidently develop their economy.

Hai Bang

Source: https://huengaynay.vn/chinh-tri-xa-hoi/diem-tua-giup-ba-con-vung-cao-phat-trien-sinh-ke-152210.html