Many effective agricultural models from preferential capital from the Bank for Social Policies
The family of Ms. Kim Thi Tinh (Vinh Ninh village, Dao Tru commune, Tam Dao district) has gradually escaped poverty thanks to preferential loans from the Bank for Social Policies. Ms. Tinh shared that in 2018, when she received a loan of 50 million VND from the Bank for Social Policies of Tam Dao district, her family bought breeding cows and raised poultry. Thanks to the government's support in raising techniques, her family's cows and poultry have developed well. Thanks to that, her family has escaped poverty, has a stable income and has savings.
Farmers in Binh Xuyen district, Vinh Phuc province develop a chicken farming model using preferential loans from the Vietnam Bank for Social Policies. Photo: Phung Hai
In the first two months of 2024, more than 2,900 poor households and other policy beneficiaries had access to loans from the Vinh Phuc Provincial Bank for Social Policies with a loan turnover of more than 103 billion VND.
In 2022, after escaping poverty, Ms. Tinh continued to borrow capital from the Social Policy Bank to invest in a combined crop and livestock farm model. Up to now, her family is raising 8 beef cows, 1,000 ducks, 1,000 chickens and more than 100 pigs. This model has brought in hundreds of millions of VND in income per year, helping her family pay off all debts and build a spacious 2-storey house.
Also a typical example of a farmer effectively using credit capital from the Bank for Social Policies, Mr. Tran Van Them (in Duy Phien commune, Tam Duong district) has invested in developing a model of raising French pigeons.
Mr. Them said: Since 2018, he has been able to borrow 50 million VND from the credit source for poor households. From that capital, he continues to invest in additional breeding stock and maintain the pigeon flock. In early 2024, Mr. Them continued to receive an additional loan of 100 million VND from the Tam Duong District Social Policy Bank to develop the economy. Currently, with a scale of raising more than 1,000 pairs, every 4 days, his family sells 120-150 birds at a price of 90,000 VND/bird.
Meanwhile, Mr. Tran Duy Doan (in Nhan Dao commune, Song Lo district) started a business with a high-tech agricultural model from a loan from the Bank for Social Policies. In April 2021, Mr. Doan planted 1,400 black grape trees on an area of 4,000m2. Up to now, Mr. Doan has expanded the scale to nearly 2 hectares, planting many key crops such as: Milk grapes, Ichiba melons, strawberries. From this grape and melon growing model, Mr. Doan has an income of over 800 million VND/year and creates jobs for 5 local workers with an income of nearly 6 million VND/person/month.
Applying digital technology to improve credit quality
Along with deploying preferential credit capital to poor households and policy beneficiaries, the Social Policy Bank of Vinh Phuc province also actively applies digital technology to policy credit activities.
Accordingly, in order to effectively deploy Mobile Banking services to customers through the VBSP Smart Banking application, from March 1, 2023, when receiving the directive document from the General Director of the Bank for Social Policies, the Bank for Social Policies of Vinh Phuc province has thoroughly informed all bank staff, organized training, and provided instructions on using the service; coordinated with entrusted unions, local authorities, village heads, and the Management Board of the TKVV Group to propagate through group meetings. The Bank for Social Policies publicly announced the content of instructions on using the service and the utilities of Mobile Banking at the bank's headquarters and 136/136 commune transaction points.
Up to now, the Headquarters and Transaction Offices of the Social Policy Bank at district and city levels have deployed the VBSP Smart Banking application to members of the Board of Directors of the Social Policy Bank at provincial and district levels, officials of entrusted unions, heads of credit extension groups, borrowers and individual customers opening payment accounts at the Social Policy Bank.
After 8 months of implementing the VBSP Smart Banking application, there have been more than 2,500 accounts, generating more than 15,000 transactions, equivalent to more than 20 billion VND.
The leader of the Social Policy Bank of Vinh Phuc province affirmed: VBSP Smart Banking application is a banking service on smartphones of the Social Policy Bank, helping customers save time, travel costs, access non-cash payment services, while improving service quality, diversifying products and services, strictly managing debt reconciliation, deposit balance, reducing risk ratio in credit activities of the unit.
By digitizing policy credit activities, the Provincial Bank for Social Policies has actively contributed to economic development associated with the implementation of poverty reduction goals and ensuring social security in the province.
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