Policy capital, the "support" of the poor (Part 1)

For the poor and policy beneficiaries who need loans, every time they want to rise up and change their lives, they depend on the "first" things. That is capital, policy, and orientation. Preferential credit capital from the Vietnam Bank for Social Policies (VBSP) is always considered a "pillar", a "midwife" to support and realize the dream of escaping poverty and rising up to economic development. Coming to Que Vo, seeing with your own eyes the "life changes" from the preferential capital of the VBSP, you can understand the humanistic value for people's lives.

Lesson 1: Policy capital, the "support" of the poor

After completing his prison sentence, Mr. Pham Van Tung, born in 1974, returned to his hometown to live with his family in Phong Coc village, Duc Long commune. Like many other normal people, people who have reformed like him also have dreams of a stable life and a peaceful home. And, on the journey to start a new life, trying to become good citizens, he and his wife and children actively worked to stabilize their lives. However, due to lack of economic capital, the family only relied on farming and working for hire, so they were not very well off. Decision No. 22/2023/QD-TTg of the Prime Minister on credit for people who have completed their prison sentences was deployed by the Women's Union staff to the locality as opening a "bright path" for him. With the support of local authorities and the social policy bank, he was one of the first people in the town to access loans. Happily receiving the amount of 100 million VND from the Social Policy Bank, Mr. Tung is full of confidence on the journey to rebuild his life. With capital, he has developed his economy according to the model of raising buffaloes and small-scale livestock at home. Thanks to his determination and efforts, his economic model has grown day by day, currently he has a total herd of 54 buffaloes, with an economic value of over 500 million VND, giving him an average monthly income of 10 to 15 million VND.

With a bachelor's degree in economics and a bachelor's degree in fine arts, Nguyen Van Lam both have stable jobs in the city. But the dream of doing something with a personal mark and lasting value has always been there. Because they love pottery and have collected pottery for many years, the couple decided to "leave the city and return to the countryside" to open a pottery workshop. A small pottery workshop made of plastic with limited initial investment capital was built. The more they worked, the stronger their love for pottery became, and with their meticulousness and carefulness in market research, the young couple decided to choose their own path, which is to create feng shui and spiritual ceramic products. In 2024, the Women's Union and the People's Credit Fund of Que Vo town lent them 1 billion VND from the women's start-up capital source. The disbursed capital was like a lifeline to help the young couple realize their cherished idea. They invested in machinery and built a factory to expand production. Thanks to their agility, liveliness, and production of quality products, their pottery business is increasingly favorable, and the products produced have been known and favored by the market inside and outside the province. Currently, the workshop is operating stably, creating regular jobs for 5 workers, and the couple's monthly revenue after deducting expenses is 20 to 30 million VND. And the most important thing is that they have brought Phu Lang traditional pottery into life, both aesthetically pleasing and reflecting the soul of the Vietnamese people. With income, every month, they pay interest and part of the principal to the CSXH Bank. The loan capital from the "Supporting Women to Start a Business" program is a solid foundation and an important motivation to help the young couple realize their dreams, plans, and become rich legitimately.

The above are just 2 of thousands of customers in the town who have received loans from the town's Social Policy Bank. Identifying policy capital as a "fulcrum" to help poor households and other policy beneficiaries in the area to stabilize their lives. Over the years, the Que Vo Town Social Policy Bank Transaction Office has always focused on and actively implemented policy credit programs to people quickly, conveniently, effectively, ensuring the right subjects. Policy capital reaches 100% of communes and wards in the area, focusing on prioritizing localities with high rates of poor and near-poor households, supporting jobs to maintain and expand jobs, capital for youth start-ups, women start-ups, loans according to Decision No. 22/2023/QD-TTg dated August 17, 2023 of the Prime Minister.

To ensure that capital reaches borrowers and create the most favorable conditions for borrowers, the Que Vo Town Social Policy Bank Transaction Office has built a widespread network of 350 savings and loan groups operating in 100% of villages and areas in the area and maintained the good operation of 21 commune and ward transaction points. The lending is reviewed publicly and democratically, so the capital has truly reached the hands of the poor and beneficiaries.

As of the end of September 2024, the total capital of the Que Vo Town Social Policy Bank is over 634 billion VND. The bank is implementing 12 credit programs with a total outstanding loan balance of over 631 billion VND with 12,745 borrowers, a growth rate of 3.4%. Of which, there are 6 credit programs with large outstanding loans, especially the loan program to support job creation, maintenance and job settlement. In particular, the loan program under Decision 22 of the Prime Minister has disbursed to 14 beneficiaries with an outstanding loan balance of 1 billion 350 million VND.

In reality, loans from policy credit programs have provided "strength" and a solid financial "support" for poor households, near-poor households as well as other key subjects to achieve poverty reduction goals, create jobs, develop production, and stabilize life.

Source: https://thoibaonganhang.vn/nguon-von-chinh-sach-diem-tua-cua-nguoi-ngheo-bai-1-158893.html