"Leverage" from credit capital in border districts

Thanks to labor export, the lives of people in Quang Chieu commune (Muong Lat) are increasingly improved.

A typical example is the case of Mr. Luong Van Que's family in Chai village - one of the households that escaped poverty thanks to preferential loans from the Bank for Social Policies. Mr. Que said that in 2021, he borrowed 100 million VND in preferential loans to create jobs. After having capital, he invested in a squash growing model and successfully built a 3-star OCOP product for a stable income.

One of the highlights of the preferential credit programs of the Bank for Social Policies is labor export loans. The effectiveness of this loan source is considered by local people as a "short path" to escape poverty. Assessing the effectiveness of the loan source, Mr. Vi Van Thu, Vice Chairman of Quang Chieu Commune People's Committee, said: Thanks to the loan source, Quang Chieu Commune now has 320 people working abroad, the highest in the district. Some villages have a large number of people working abroad, such as Xim, Pung, Mong, Qua, Ham... The money from "going abroad" helps many families escape poverty and improve living conditions. This contributes to the goal of sustainable poverty reduction in the locality.

Ms. Ha Thi Pen, in Mong village, Quang Chieu commune, said: “I used to work far from home, with an unstable income. In 2022, I borrowed 80 million VND to go to Taiwan to work. Every month, after deducting all living expenses, I send home more than 20 million VND. The money I save helps my parents build a house and pay for my children's education."

Currently, the Social Policy Bank of Muong Lat district is disbursing loans for 15 preferential credit programs. The credit programs have contributed to helping many localities complete important criteria such as poverty reduction, income increase, clean water supply and environmental protection, job creation... Social policy credit capital not only helps households escape poverty but also supports communes to quickly complete criteria in new rural construction.

Mr. Nguyen Duc Thuong, Director of the Social Policy Bank of Muong Lat district, said: As of March 31, 2025, the total outstanding policy credit balance in the district has reached 319.8 billion VND, with 4,978 borrowers. In particular, many programs have had positive effects such as: lending programs for poor households (133.7 billion VND), near-poor households (38.9 billion VND), newly escaped poverty households (26.3 billion VND), clean water and environmental sanitation (11.3 billion VND), job creation (24.6 billion VND), production and business in difficult areas (70.9 billion VND)...

Talking to us, Mr. Trieu Minh Xiet, Standing Deputy Secretary of the Muong Lat District Party Committee, highly appreciated the role of policy credit capital. Mr. Xiet emphasized: “Thanks to policy credit programs, the rate of households using clean water that meets national standards has increased, vocational training and job creation have achieved positive results. The number of poor households has decreased significantly, from 3,266 households (36.98%) in 2023 to 2,292 households (25.85%) in 2024. Social credit capital has been effective in developing the economy of ethnic minorities in mountainous areas, strengthening the policy of shifting the agricultural economic structure, sustainable poverty reduction, contributing to promoting industrialization, rural modernization and new rural construction in the district”.

To improve the effectiveness of credit programs, in the coming time, local authorities and the Bank for Social Policies need to continue to expand the scope of loans, especially for households that have just escaped poverty, to ensure stability and sustainability. Strengthen guidance and support for people in using capital for the right purposes, applying science and technology to production to improve economic efficiency. In addition, implementing new credit lending programs aimed at supporting the development of cooperative economic models, linking production according to value chains, will also be a solution to help people have a livelihood, gradually rise to become rich.

Article and photos: Dinh Giang

Source: https://baothanhhoa.vn/don-bay-tu-von-tin-dung-o-huyen-vung-bien-244664.htm