Loc Ninh (Binh Phuoc): Policy credit capital supports production and business households in difficult areas.

People are happy and excited when receiving loans (at the Transaction Point of Loc Phu Commune, Loc Ninh District) to invest in production and business.

From the loan capital of the Program, many households have used it effectively and for the right purpose, thereby gradually increasing their income and improving their lives. A typical example is the family of Ms. Dao Thi Vin, Group 2, Sooc Rung Hamlet, Loc Phu Commune, Loc Ninh District, who shared: In 2021, after learning about the production and business loan program in disadvantaged areas of the Vietnam Bank for Social Policies, I boldly borrowed 50 million VND for a loan term of 3 years. When the loan was due, Ms. Vin said that thanks to the borrowed capital, her family had developed a pepper garden. Up to now, the pepper garden has generated income and the pepper garden has grown well, bringing stability to the family economy . In 2024, to continue developing the pepper garden, her family continued to be considered for a loan of 100 million VND, to expand and develop 500 more pepper poles.

Like Mrs. Vin's family, many production and business households in difficult areas in Loc Phu commune have been able to borrow capital to invest in purchasing materials, equipment, and means of production; buying plant and animal breeds, etc. Thereby, many models of getting rich from preferential loans have emerged, such as models of developing cultivation and animal husbandry, etc., contributing to changing the lives of many households in difficult areas in the area.

The family of Mr. and Mrs. Luu Thi Thu Thao (in Hamlet 6, Loc An Commune, Loc Ninh District) is happy and excited with their avocado and guava garden, which brings in an income of about 120 million VND/year, thanks to an investment of 50 million VND in loan capital from the Loc Linh District Social Policy Bank Branch.

Nguyen Duc Phong, Director of the Transaction Office of the Bank for Social Policies of Loc Ninh District, said that the Loan Program for Production and Business Households in Difficult Areas has been implemented in the district since 2007, according to Decision 31/2007/QD-TTg of the Prime Minister with a maximum loan of 30 million VND/household. From March 2016, the maximum loan amount was adjusted to 50 million VND/household. In some specific cases, the loan amount can be adjusted from 50 - 100 million VND/household and the loan must be secured by assets formed from the loan capital. The loan interest rate is 9%/year.

To effectively implement the program, every year, the District Social Policy Bank Branch advises the Board of Directors of the District Social Policy Bank to assign specific targets to each commune. During the implementation process, coordinate with the Party Committee, commune authorities and associations and unions to inspect, supervise and ensure that policy credit capital reaches the right beneficiaries and is used for the right purposes, creating favorable conditions for households in need of capital for production and business in difficult areas to quickly access loans, meeting the needs of investment in expanding production and business, and increasing income.

Officers of the Transaction Office of the People's Credit Fund of Loc Ninh district visited and inspected households in Loc Phu commune who borrowed capital to invest in cattle breeding and serve production.

Up to now, the Loc Ninh District Social Policy Bank Branch is implementing 17 Programs with a total outstanding loan of 610 billion VND, 13,077 customers. Of which, the total outstanding loan of the Loan Program for Production and Business Households in Difficult Areas in the District reached over 105 billion VND with 2,250 households still in debt, an average loan of 47 million VND/household. The loan turnover in the first 8 months of 2024 reached 23,296 billion VND with 377 customers borrowing capital; debt collection turnover was 17,459 billion VND. Thanks to the preferential capital of the Program, people have invested in effective economic development, people's income and life have changed a lot. People pay principal and interest on time.

According to Nguyen Duc Phong, Director of the Loc Ninh District Social Policy Bank Branch, in order to promote capital disbursement for households in need, through lending activities, the district Social Policy Bank continues to closely coordinate with organizations at all levels to do a good job of propaganda and instructing borrowers to use capital for the right purposes and effectively according to the program's objectives.

It can be affirmed that the loan program for production and business households in difficult areas implemented by the Loc Ninh District Social Policy Bank Branch is extremely important, helping people have conditions to develop production and stabilize their lives, contributing greatly to the local poverty reduction effort.

Social Policy Bank: More than 405 thousand workers are supported with loans to invest in production and business, creating jobs

Source: https://baodantoc.vn/loc-ninh-binh-phuoc-von-tin-dung-chinh-sach-tiep-suc-cho-ho-san-xuat-kinh-doanh-tai-vung-kho-khan-1727414784033.htm