The effectiveness of policy credit capital in Duy Xuyen

Policy credit capital helps many households develop production and improve their lives. Photo: TT

Leverage to escape poverty

Previously, Ms. Vo Thi Ha's family (An Lac village, Duy Thanh commune) was a near-poor household. With the guidance of the Savings and Loan Group managed by the Commune Women's Union, Ms. Ha borrowed 50 million VND to buy 2 breeding cows.

After a period of care, the cow gave birth to 2 calves, Mrs. Ha sold them and paid off all the debt. Seeing the effectiveness, Mrs. Ha continued to borrow 30 million VND from the program for newly escaped poverty households to continue investing in raising cattle. Up to now, Mrs. Ha has increased her herd to 4 cows. In recent years, with the money from selling cows, Mrs. Ha has taken care of her children's education and a more stable life.

Mr. Vo Thanh Trung (Ha Nam village, Duy Vinh commune) with the model of opening an industrial sewing workshop. Photo: TT

Or the case of Mr. Vo Thanh Trung (Ha Nam village, Duy Vinh commune) with the model of opening an industrial sewing workshop. Mr. Trung said that when he came up with the idea, he encountered difficulties in capital. After borrowing 100 million VND in policy capital, he invested in facilities and trial production. Currently, his facility creates jobs for 20 local workers, with an income of 5-6 million VND/person/month.

“Policy funding has supported me, helping me overcome difficulties to start a business with my own passion. In the future, I will continue to invest, improve facilities and research to develop strongly, creating more jobs for local workers,” Mr. Trung shared.

Implementing Resolution No. 11 on the Program for economic and social recovery and development, the Transaction Office of the Bank for Social Policies (CSXH) in Duy Xuyen district has proactively coordinated to bring capital to beneficiaries, helping households invest in economic development and overcome difficulties. According to Mr. Nguyen Ba Tung - Deputy Director of the Transaction Office of the Bank for Social Policies in Duy Xuyen district, up to now, the total capital has reached 575.4 billion VND, an increase of 326.9 billion VND compared to 2014; the capital entrusted by the district for lending is 6.23 billion VND, an increase of 11.3 times compared to 10 years ago. The total outstanding debt has reached more than 478 billion VND with 10,619 borrowers.

Many households develop pig farming models from policy capital. Photo: TT

Mr. Tung said: “From borrowing capital to develop production and business with simple procedures, suitable loan amounts and repayment methods, preferential interest rates, long terms, etc., the poor and policy beneficiaries have gradually changed their awareness in a positive direction, using capital responsibly, repaying debts on time, and increasing family income.”

Social security

With the motto "Understanding the people's hearts, serving wholeheartedly", the social policy credit programs are deployed by the Duy Xuyen District Social Policy Bank Transaction Office to lend in accordance with the local socio-economic development and the needs of the people. According to Mr. Nguyen Ba Tung, the unit always implements the entrustment method well with 4 socio-political organizations, helping members in difficult circumstances to know how to use loans, increase income, and gradually stabilize their lives. Thanks to that, the quality of loan entrustment is constantly improved, promptly transferred to the poor and other policy subjects.

Mr. Tung said: “Over the past ten years, Duy Xuyen has had 38,980 poor households and other policy beneficiaries borrow capital to invest in production, business, develop family economy, and escape poverty. Thereby, creating jobs for 14,733 workers, building 30,878 clean water supply and rural environmental sanitation works; 1,934 houses and storm and flood shelters for poor households and policy beneficiaries, 18 people who have completed their prison sentences, and about 100 young customers starting a business have access to credit capital”.

Over the past 10 years, Duy Xuyen district has had 38,980 poor households and other policy beneficiaries borrow policy capital to invest in production and business. Photo: TT

Mr. Dang Huu Phuc - Vice Chairman of Duy Xuyen District People's Committee said that determining income criteria plays an important role, creating motivation to successfully carry out local political tasks, the locality actively integrates many solutions to develop the economy, increase income for people. In particular, policy credit capital is considered a "lever" to achieve the goal of sustainable poverty reduction, ensuring social security. Thanks to that, up to now, the poverty rate of the district has decreased to 1.79%, near-poverty to 0.91%, average income per capita reached 62.2 million VND.

“Policy credit capital is considered a fundamental and long-term tool and solution for localities to successfully implement goals and plans on sustainable poverty reduction, job creation, advanced new rural construction, ensuring social security and national defense in the area,” Mr. Phuc emphasized.

Source: https://baoquangnam.vn/hieu-qua-nguon-von-tin-dung-chinh-sach-o-duy-xuyen-3146615.html