As of February 29, 2024, the Dien Bien Dong District Social Policy Bank Transaction Office has implemented 17 policy credit programs. Loan turnover reached nearly 440 billion VND with more than 8,300 households borrowing capital; the credit growth rate reached an average of over 15%. Particularly for the loan program for poor households, from 2021 to now, the whole district has had nearly 3,500 poor households borrowing capital, with a total amount of over 177 billion VND. Timely, targeted and effective use of capital has helped nearly 1,200 households overcome the poverty line.
Mr. Nguyen Van Dung, Director of the Transaction Office of the Social Policy Bank of Dien Bien Dong District, said: The unit closely coordinates with local Party committees, authorities, and organizations entrusted to deploy policy credit to poor and near-poor households and other policy beneficiaries. Right from the beginning of the year, the district transaction office has developed a plan to effectively monitor the entrusted capital at the district's socio-political organizations and communes and towns; regularly organizes training courses on policy credit capital management for savings and loan groups (TK&VV), village and hamlet chiefs in the area. Thanks to that, policy credit capital is lent to the right subjects, used for the right purposes and effectively.
Established in 2006, up to now, the Savings and Credit Group of Residential Group 1, Dien Bien Dong Town has 41 members, currently implementing 6 policy credit programs including: Loans for poor households, near-poor households, newly escaped poverty households, production and business households in difficult areas, poor households in housing, and ethnic minority households. The total outstanding debt is 2,761 billion VND, with an average outstanding debt of over 67.7 million VND per household.
Ms. Quang Thi Duong, Head of the Savings and Credit Group of Residential Group 1, said: To improve the efficiency of the Savings and Credit Group, the Group Management Board pays special attention to the inspection and supervision of the use of loan capital. Regularly grasp the thoughts and aspirations of members; update information, detect arising problems, difficulties and obstacles to have timely measures to remove and resolve. The Group maintains regular meetings with the district transaction office; closely coordinates with local authorities to monitor and urge members to repay principal and interest on time. Therefore, for many years, the Group has had no overdue or bad debts.
The effective use of credit capital has helped 12 poor households in residential group 1 escape poverty; 10 households build new, solid houses; many other households have jobs and stable incomes, improving their quality of life. Some typical households in the effective use of policy credit capital, such as: Lo Van Thoi, Lu Thi Soa, Tong Thi Hoa... with a large livestock farming model, earning tens of millions of VND/year. 100% of the group members participate in monthly savings with a deposit balance of 39 million VND.
Mr. Luong Van Truong's household in residential group 1 (Dien Bien Dong town) was given a loan of 50 million VND to invest in developing a large-scale livestock farming model. Mr. Truong invested in barns, bought buffaloes and cows for breeding in the direction of family farms. Currently, Mr. Truong's livestock herd has 5 buffaloes and 8 cows, creating a stable income for the family.
Mr. Luong Van Truong said: "In difficult circumstances, preferential policy capital is an important lever to help my family develop a livestock model, gradually stabilize and escape poverty."
Na Son is a particularly difficult commune of Dien Bien Dong district, with a natural area of 73.59 km 2 , including 13 villages, 918 households, 4,071 people of 4 ethnic groups living together. The rate of poor and near-poor households accounts for 37.9%, people's lives are still difficult. In recent years, Na Son commune has always considered policy credit capital as one of the effective solutions for economic development, job creation, and sustainable poverty reduction. Up to now, Na Son commune has established and maintained the operation of 20 Savings and Credit Groups in 100% of villages and hamlets. Total outstanding credit balance reached 37.6 billion VND, of which: Farmers' Association 7.8 billion VND; Women's Union 8.2 billion VND; Veterans' Association 12.3 billion VND; Youth Union 9.3 billion VND.
Mr. Lo Van Xuong, Chairman of Na Son Commune People's Committee, said: To effectively implement policy credit programs, the commune has directed socio-political organizations that receive regular entrustment to pay attention to consolidating and improving the quality of operations of savings and credit groups. The Commune People's Committee coordinates with specialized agencies of the district to organize training courses and transfer science and technology on cultivation and livestock and poultry farming, helping people have many ideas and knowledge to develop the economy.
In 2023, implementing the Housing Construction Program for the Poor, Mr. Thao A So's family in Tong So village (Pu Hong commune) received support of 50 million VND from the Vietnam Fatherland Front Committee of Dien Bien Dong district to build a house. With the desire to build a spacious and solid house, Mr. Thao A So needed to borrow social credit capital. Through the Savings and Credit Group, the District Social Policy Bank Transaction Office disbursed 40 million VND so that Mr. Thao A So could have more funds to build a house.
Mr. Thao A So said: “With the support of the authorities at all levels, the Fatherland Front and the Bank for Social Policies, my family has enough funds to build a 3-hard house. The new house helps the family feel secure about their accommodation, focus on production and work, and escape poverty.”
Every year, Dien Bien Dong district regularly organizes supervision and works with the Board of Directors of the District Social Policy Bank, communes and towns on the implementation of preferential credit policies for the poor and other policy beneficiaries. Deploying, managing and effectively using policy credit capital to help the poor in Dien Bien Dong rise up and improve their lives.
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