Promoting the role of "midwife" for the disadvantaged

Making procedures to disburse policy credit capital for poor households in Ward 4, Tuy Hoa City. Photo: LE HAO

Meet diverse loan needs

Last March, Ms. Le Thi Thoa's family in Hoa Hiep Trung ward received a loan of 50 million VND from the Social Policy Bank (SPB) of Dong Hoa town to buy fishing nets. This capital came to her family very promptly because Ms. Thoa and her husband needed money to buy new fishing nets to replace the old ones that were torn due to long-term use. According to Ms. Thoa, the house is in a coastal village, so the family's main source of income is from the sea. Her husband goes fishing at night and returns to shore the next morning; she sells the fish at the market, using the money to cover living expenses and raise her children. "My husband and I have 2 children, one in 10th grade, one in 12th grade preparing to go to university, so we will need a large amount of money in the near future. Therefore, my husband discussed and registered for a bank loan to buy more nets to catch more fish, hoping to have a higher income to send our children to school," Ms. Thoa said.

Although there is no need for a loan for production and business, Ms. Le Thi Kim Chi's family in Hoa An commune (Phu Hoa district) needs capital to rebuild the bathroom and toilet. Ms. Chi said that her family built the house in 2012, at that time because they did not have much money, the bathroom and toilet areas were not solidly built. Up to now, after a long time of use, these auxiliary works have degraded. Recently, with the Phu Hoa District Social Policy Bank's transaction office disbursing 50 million VND in clean water and rural environmental sanitation capital, Ms. Chi's family hired workers to rebuild the bathroom and toilet, re-drill the well and the septic tank system. Thanks to that, family life is much more convenient and comfortable.

Provincial leaders always identify policy credit as an important financial tool in poverty reduction and sustainable socio-economic development. Therefore, the province has been prioritizing budget balance, entrusting capital through the Vietnam Bank for Social Policies, and at the same time directing departments, branches and localities to closely coordinate to implement policy credit programs in accordance with the spirit of Directive 39-CT/TW of the Secretariat on improving the effectiveness of social policy credit in the new period.

Comrade Le Tan Ho, Member of the Provincial Party Standing Committee,

Permanent Vice Chairman of the Provincial People's Committee, Head of the Board of Representatives of the Phu Yen Social Policy Bank

According to the Phu Yen Social Policy Bank, in the first 3 months of 2025, the branch and its affiliated transaction offices disbursed VND 429 billion to 10,528 poor households and policy beneficiaries. Thereby, helping 1,274 poor households, near-poor households, and newly escaped-poverty households to have conditions for cultivation, livestock raising, and small business; more than 5,000 clean water and environmental sanitation works were repaired and newly built; more than 320 households in difficult areas had capital for production and business; more than 3,200 workers had jobs; more than 3,600 households borrowed capital for students in difficult circumstances to study at universities and colleges...

Not only lending to the right subjects, Phu Yen Social Policy Bank also actively recovers capital to rotate loans, with debt collection turnover in the first 3 months of the year reaching 301.6 billion VND. By the end of March 2025, the total outstanding policy credit balance in the whole province reached more than 4,945.3 billion VND with 92,683 households still in debt, an increase of nearly 127 billion VND compared to the beginning of the year, reaching 92% of the set growth plan.

The family of Ms. Le Thi Kim Chi in Hoa An commune (Phu Hoa district) borrowed policy credit capital to renovate clean water and sanitation facilities. Photo: LE HAO

Continue to add capital

In the context of many economic difficulties, the timely provision of policy capital by the Phu Yen Social Policy Bank to people, especially vulnerable groups, has significantly contributed to stabilizing social security, promoting production, and improving income for thousands of households.

Mr. Ho Van Thuc, Director of the People's Credit Fund of Phu Yen province, said: "We have closely followed the direction of the central and local governments, synchronously implementing solutions to ensure that policy credit capital reaches the right beneficiaries. In addition to the central capital, since the beginning of this year, the Provincial People's Committee and districts, towns and cities in the province have prioritized the allocation of an additional VND 72.82 billion entrusted through the People's Credit Fund, creating conditions for expanding lending, helping people improve their income and stabilize their lives."

According to Mr. Ho Van Thuc, recently, the Vietnam Social Policy Bank assigned the Phu Yen Social Policy Bank to increase outstanding loans for clean water and rural environmental sanitation by VND120 billion; loans to support job creation, maintain and expand employment from the mobilized capital of the Social Policy Bank of VND85 billion; loans to households that have just escaped poverty VND20 billion; loans to people who have completed their prison sentences VND4 billion. The branch is coordinating with local authorities and entrusted organizations to review people's loan needs, organize public and correct assessments, and promptly disburse to eligible households.

“In the second quarter of 2025, we aim to disburse at least 95% of the capital plan for policy credit programs assigned in 2025, striving to have the total outstanding debt of the province reach about 5,050 billion VND by the end of June 2025. At the same time, we will continue to coordinate to review and synthesize capital needs, and submit to the central government for timely supplementation to ensure that people do not miss the opportunity to borrow capital to develop production and improve their lives,” Mr. Thuc added.

Source: https://baophuyen.vn/tin-dung-chinh-sach-xa-hoi/202504/phat-huy-vai-tro-ba-do-cho-nguoi-kho-khan-2c932e1/