Policy capital helps the poor "Not be left behind"

BHG - With the motto "Not leaving the poor and vulnerable behind", for many years, the Social Policy Bank (SPB) of Hoang Su Phi district has created favorable conditions for poor and near-poor households and policy beneficiaries to access preferential capital to boost production, create jobs and improve living conditions. Thereby, actively contributing to the cause of hunger eradication and poverty reduction, ensuring social security of the locality.

Born and raised in poverty, Ms. Lu Thi Thuong, Ma Lu Sung village, Ban Nhung commune always strives to escape poverty. In 2021, with advice from the government and credit officers of the District Social Policy Bank Transaction Office, Ms. Thuong borrowed 100 million VND with preferential interest rates for poor households to invest in raising fattened buffaloes and cows. Thanks to applying proper techniques and care, the livestock farming has developed well, bringing in tens of millions of VND in income after each sale of buffaloes and cows. Delighted with the initial results, she and her family continued to invest, each batch being larger than the previous one. After 3 years, her family paid off all their debts, had money to buy a car, repair the house, and send their children to school.

Staff of Hoang Su Phi Social Policy Bank grasp the situation of loan capital usage in Chien Pho commune.

Ms. Thuong shared: “At first, when I borrowed money, I encountered many difficulties. Due to lack of experience, the buffaloes and cows grew slowly, the output was unstable, and the traders forced down the price. But fortunately, the loan interest rate was low and the loan term was long, so I could rotate the capital and continue to reinvest. When I escaped poverty, I was very happy. My family and I continued to strive harder to rise up and have a better life.”

In 2022, thanks to a loan of 100 million VND from the Bank for Social Policies of Hoang Su Phi district, Mr. Dang Van Chanh, a poor household in Cao Son 2 village, Ban Luoc commune, was able to open a wooden furniture factory, thanks to using the capital for the right purpose and effectively. To date, Mr. Chanh's family has escaped poverty. Currently, his family's factory has been expanded to 500m2, creating jobs for 6 local workers with an average income of 10 million VND/person/month.

These are just 2 of many poor and near-poor households and other policy beneficiaries in Hoang Su Phi district who have access to preferential credit capital from the VBSP for economic development. As of December 31, 2024, the outstanding loans for poor households of the district's VBSP reached VND 510,709 million, with 8,181 households borrowing; during the year, 2,072 poor households and policy beneficiaries received loans.

Policy credit sources in the district have also contributed to helping 1,327 poor households, near-poor households, and newly escaped-poverty households borrow capital to develop production and improve their lives; 304 households in difficult areas borrow capital to develop their businesses; 108 households borrow capital to create and maintain jobs; support 157 households to build new, renovate, and upgrade clean water and environmental sanitation works in rural areas; 101 households borrow capital to renovate mixed gardens and develop household economy.

Ms. Hoang Thi Thu Hien, Deputy Director of the Hoang Su Phi District Social Policy Bank, said: Currently, the district Social Policy Bank is managing and implementing many social policy credit programs. Many credit programs have high outstanding loans, bringing great economic and social efficiency such as: Loan programs for poor households, near-poor households, and newly escaped poverty households; loans to support job creation, job maintenance and expansion; loans for students in difficult circumstances... In order to create conditions for poor households to access policy capital sources, the district Social Policy Bank has improved the quality of entrusted activities through organizations such as the Farmers' Association, Women's Union, Veterans' Association, and Youth Union. Social policy credit activities will reach people as quickly as possible, creating conditions for households to have more motivation to develop production, increase income, and escape poverty sustainably. Through direct transaction sessions, in addition to providing information and consulting people on loan packages suitable to each household's conditions, the district's Social Policy Bank staff also guide people to apply appropriate livelihood models, ensuring effectiveness; raise awareness among the poor so that they do not rely on State support but actively produce and do business to escape poverty...

Article and photos: Nguyen Yem

Source: https://baohagiang.vn/ngan-hang-chinh-sach/202504/nguon-von-chinh-sach-giup-nguoi-ngheo-khong-bi-bo-lai-phia-sau-b87355f/