Bringing capital to the poor and policy beneficiaries

Minh Hoa is a mountainous district located in the northwest of Quang Binh province. The terrain here is mainly hills, and the traffic infrastructure is not yet synchronized in some places. The whole district has 14,338 households with 59,633 people, of which 23% are ethnic minorities; through annual surveys and assessments, the rate of poor and near-poor households is still high. People's lives are still facing many difficulties, especially ethnic minority households concentrated in communes in areas with particularly difficult economic conditions, such as: Dan Hoa, Trong Hoa, Hoa Son and Thuong Hoa.

Mr. Nguyen Tat Thanh, Deputy Director of the Transaction Office of the Social Policy Bank of Minh Hoa District, said: To help many poor people and other policy beneficiaries change their lives, the Transaction Office of the Social Policy Bank of Minh Hoa District has implemented many preferential loan programs for people. Currently, the unit is implementing 18 credit programs. In particular, capital sources of policy credit programs are invested in lending to 100% of villages, hamlets, and residential groups in the district. The total loan turnover in 5 years reached 753,609 million VND, with 14,794 customers receiving loans. There are 3,460 poor and near-poor households borrowing loans; 2,200 newly escaped poverty households receiving loans; 708 poor households borrowing loans to build houses; 72 students borrowing loans for study; 1,717 workers receiving loans from capital sources to support job creation, maintaining and expanding jobs...

Credit capital contributes to creating jobs for many poor households and other policy beneficiaries.

Thanks to the credit capital deployed in all villages, it has helped people know how to invest in economic development and improve their lives. In general, the socio-economic situation in the district in recent years has had positive changes, the economy has grown, people's lives have been improved, and security has been ensured.

Over the past 5 years, the People's Credit Fund - Quang Binh Branch has provided loans to 161,815 customers, with a loan turnover of VND 8,419 billion. Policy credit capital has created livelihoods, jobs and met the essential needs of the poor and other policy beneficiaries, actively contributing to the local poverty reduction target.

Fully aware of the role, position and importance of social policy credit for local economic development, sectors and localities in Dong Hoi City have paid attention to directing and creating conditions for the People's Credit Fund - Quang Binh Branch to implement policy credit programs. Socio-political organizations have also performed well the task of receiving entrustment from the People's Credit Fund, thereby, preferential credit capital has reached poor households and policy beneficiaries in a timely and appropriate manner and has promoted efficiency. Mr. Duong Xuan Tri, Deputy Director of the People's Credit Fund - Quang Binh Branch, said: Over the past 5 years, the scale of policy credit programs in the city has been increasingly expanded, and credit quality has been guaranteed. Policy credit capital has been invested in 15/15 communes and wards, creating conditions for the poor and other policy beneficiaries in need and eligible to access policy credit capital conveniently and promptly.

Up to now, Dong Hoi City has implemented 12 policy credit programs with a total outstanding loan balance of 503,018 million VND. The average outstanding loan balance is 64.4 million VND/customer. The loan has helped thousands of customers have capital to invest in production and business.

Ms. Nguyen Thi Thuy, Duc Ninh Dong ward, shared that social policy credit capital has helped her maintain and create stable jobs for herself and her family members. “My family’s economy previously relied on 2 sao of rice fields, which was not enough to cover living expenses. To earn more income, I invested in pig farming, tofu making and cake making. Due to small-scale production, my income was not high. Fortunately, thanks to accessing the job creation loan package of the Social Policy Bank, I was able to borrow 80 million VND with preferential interest rates. With the capital, I invested in buying machinery to serve the tofu and cake making profession. Thanks to the support of the machinery, the quantity of cakes and tofu produced and sold increased. In addition to paying off the debt to the Social Policy Bank, I had more capital to invest in a biogas tank barn system to maintain raising 2 litters of pigs per year. On average, each year, the above model has given my family a stable income of nearly 200 million VND.

D. Nguyet

Source: https://baoquangbinh.vn/kinh-te/202504/dua-nguon-von-den-voi-nguoi-ngheo-va-doi-tuong-chinh-sach-2225700/