Thanks to preferential loans, women members expand production and business scale.

Ms. Truong Thi Be in Hien An village, Phong Son commune, Phong Dien town is a typical example of a movement of women members who are good at doing business. With her diligence and the “leverage” of the loan capital entrusted by the Vietnam Bank for Social Policies through the Women’s Union, Ms. Be has planted trees, greening her family’s gardens and hillsides.

“Born and raised in the countryside, with the advantage of large land, after getting married, I learned and grasped policies and participated in learning experiences in cultivation and animal husbandry. Along with that, I boldly borrowed 100 million VND from the capital of the district's Social Policy Bank to invest in planting 3 hectares of medicinal cajuput, 2 hectares of garden land and 3 hectares of rice land. In addition, the family invested in and improved the land to grow guava, oranges, bananas...; divided the sow breeding area, dug ponds to raise grass carp, silver carp... Up to now, my family's economic model has brought in an income of nearly 200 million VND/year" - Ms. Be said.

Currently, the Phong Son Commune Women's Union is managing more than 600 members who have borrowed capital, with an outstanding debt of nearly 33 billion VND. Not only being able to borrow capital, the Commune Women's Union has coordinated with many organizations and professional agencies to disseminate, guide and train women on how to do business. Thanks to that, many members have paid off their debts and have accumulated capital.

Thanks to preferential loans, Ms. Nguyen Thi Thu Thuy in Thuy Xuan Ward, Thuan Hoa District was able to open a restaurant. The Ward Women's Union also introduced and guided her to participate in cooking classes to improve her skills... "From the initial capital, I gradually built a clean and spacious restaurant. Without the encouragement and support of the Ward Women's Union in both spirit and material, I probably would not have had a stable life like now," Ms. Thuy affirmed.

Preferential credit from the Vietnam Bank for Social Policies has provided loans with low interest rates, helping many women members develop small business models such as animal husbandry, farming, handicraft production or service business. The loans often do not require collateral, and the association at all levels guides and supports with simple loan procedures, thereby making it easy for women members to access capital.

Ms. Tran Thi Kim Loan, member of the City Party Committee, President of the Hue City Women's Union, said: The management of loans is ensured by all levels of the union, the loans are used for the right purposes and effectively. Thanks to preferential loans, many members have more opportunities and conditions to develop their family economy, raise their children to study successfully, many families find the right direction, overcome difficulties, rise out of poverty and have savings.

Through the Social Policy Bank trust program, the total outstanding debt in the area has reached nearly 2,570 billion VND, with 1,222 loan groups and 54,604 members. In addition, the program of sustainable poverty reduction and ensuring social security in the locality has also been implemented through the activity "Saving money, joining hands for the poor" of the City Social Policy Bank's Board of Directors and the City Women's Union. Thereby, it has mobilized cadres, members and women to participate with nearly 26.5 billion VND in savings deposited in the Social Policy Bank. The Women's Development Support Fund has supported 487 women to borrow from 10 - 50 million VND/person, with a total turnover of more than 6.7 billion VND.

Article and photos: Thao Vy