Promoting the role of policy credit trust

Dien Bien District Youth Union coordinated with the Social Policy Bank to provide guidance to commune-level Youth Union officials on the task of entrusting the arrangement and storage of records at the Savings and Credit Group.

Identifying the important role of policy credit capital in accompanying union members and young people in starting a business, in recent years, the Ho Chi Minh Communist Youth Union of Thanh An commune (Dien Bien district) has always promoted its pioneering and responsible role to do a good job of entrusting. Up to now, the total outstanding debt entrusted through the commune's Union has reached over 22 billion VND with 309 young people borrowing capital. With financial support from policy credit capital, many young people have boldly invested in economic models. Currently, the whole commune has over 30 models of youth starting a business, developing the economy for an income of 100 - 500 million VND/year.

Ms. Ca Thi Cham, Secretary of the Ho Chi Minh Communist Youth Union of Thanh An commune, shared: “To effectively promote preferential loans, we pay special attention to the work of entrusting loans from the Bank for Social Policies. In the past time, we have implemented many synchronous solutions for young people to access policy credit capital. From there, we contribute to supporting young people to gradually establish themselves, start a business, and strive to become rich on their own homeland.”

Members of associations and organizations participate in training on trust operations.

Up to now, the trust activities through socio-political organizations in Dien Bien district have been maintained stably and implemented well at 21 commune transaction points with 383 savings and loan groups (TK&VV). In order to promptly meet the capital needs of poor households and other policy beneficiaries, the Bank for Social Policies, Dien Bien district branch, has closely coordinated with associations and organizations at all levels to disburse loan growth according to the assigned plan. By the end of September 2024, the total outstanding loan balance in the district reached VND 877,736 billion with 12,757 customers...

Mr. Le Tuan Thanh, Deputy Director of the Bank for Social Policies, Dien Bien District Branch, said: During the year, the unit has coordinated well with the Farmers' Association, the Women's Union, the Veterans' Association and the Ho Chi Minh Communist Youth Union to promptly disburse credit programs to members and those in need of loans. To promote the role of the entrusted units, we have organized regular meetings and conducted training on knowledge and skills in managing policy credit capital for Poverty Reduction Committees, commune-level union officials, and management boards of Savings and Credit Groups. Along with that, we continue to propagate and mobilize borrowers to comply with the use of loans, participate in savings, and pay monthly interest...

Through the entrustment of the Women's Union, many members have access to preferential loans.

Similar to Dien Bien district, in order to enhance the role of organizations in receiving trust, the Social Policy Bank, Muong Nhe district branch, also regularly exchanges information related to policy credit activities and trust work with associations and unions in the area. At the same time, it coordinates to organize propaganda and disseminate preferential credit policies to members. With the contribution of associations and unions receiving trust, by September 30, 2024, the Social Policy Bank, Muong Nhe district branch, had entrusted 4 associations and unions with a total outstanding loan balance of more than 380 billion VND to over 6,560 households. Of which, 1,717 households borrowed capital through the trust of the Farmers' Association; 1,618 households borrowed capital through the trust of the Women's Union; 1,568 households borrowed capital through the trust of the Veterans' Association and 1,730 households borrowed capital through the Ho Chi Minh Communist Youth Union.

Mr. Hoang Xuan Quyet, Director of the Social Policy Bank, Muong Nhe District Branch, said: In order to effectively manage and lend through the entrustment of 4 socio-political organizations, the district Social Policy Bank branch has coordinated with associations and unions at all levels to proactively remove difficulties and obstacles in the process of implementing policy credit in the area. In addition, the unit and socio-political organizations at all levels also regularly inspect and supervise the use of loans by customers and members. Through inspection and supervision, errors and shortcomings in the management and lending of policy credit capital have been promptly overcome and corrected; contributing to improving the effectiveness of management and use of preferential loans...

Women's Union officials in Dien Bien district inspected the use of loan capital by members, aiming to improve the efficiency of policy credit capital.

“From that reality, it can be seen that in the management and lending of policy credit capital, the role of entrusted socio-political organizations is indispensable. Thanks to associations and unions, policy credit activities in the locality are increasingly going into depth, lending to the right beneficiaries. Therefore, to improve the efficiency of using policy credit capital in the coming time, we hope that the 4 entrusted socio-political organizations will continue to accompany the Bank for Social Policies in the inspection and supervision work at the Savings and Credit Groups as well as the use of capital after lending; thereby contributing to maximizing the efficiency of policy credit capital in the work of hunger eradication and poverty reduction" - Director of the Bank for Social Policies, Muong Nhe District Branch, Hoang Xuan Quyet shared.

Source: https://baodienbienphu.com.vn/tin-tuc/Ngan-hang-csxh/219016/phat-huy-vai-tro-uy-thac-tin-dung-chinh-sach-