Quang Nam develops policy credit extensively

Mr. Tran Quang Phuong's household invested in snakehead fish farming with a loan from the Transaction Office of the Social Policy Bank of Thang Binh District. Photo: QUANG VIET

Bright spot Thang Binh

The total policy credit lending turnover in Thang Binh district in the first quarter of 2025 was 70 billion VND, debt collection reached 48 billion VND. The local policy credit outstanding balance increased by 22 billion VND compared to the beginning of the year, bringing the total outstanding balance to 971 billion VND (accounting for more than 11% of the province's outstanding balance).

The transaction office of the Social Policy Bank (CSXH) in Thang Binh district is implementing 16 preferential loan programs including loans for job creation, loans for poor households, near-poor households, households that have just escaped poverty, loans for social housing investment, loans for students...

Mr. Tran Quang Phuong's household (Phuoc Am village, Binh Trieu commune, Thang Binh) currently has a policy credit balance of 91 million VND. In 2023, Mr. Phuong borrowed 100 million VND from the Transaction Office of the Social Policy Bank of Thang Binh district to invest in 8 tarpaulin-lined ponds to raise snakehead fish. In each pond, Mr. Phuong raises 20,000 fish. Thanks to good care, low loss rate, and fast growth of fish, the yield is quite good.

“After 9 months of farming, in each pond I harvested 10 tons of commercial snakehead fish and sold them for about 500 million VND. I will increase the scale of snakehead fish farming in the coming time,” said Mr. Phuong.

Or Mr. Nguyen Phuoc Nam's household (Phuong Chau village, Binh Trieu commune) borrowed 100 million VND from the Transaction Office of the Social Policy Bank of Thang Binh district to do coffee business.

Not only does he buy coffee from the Central Highlands to roast and then sell wholesale to coffee businesses in and outside Thang Binh district, Mr. Nam also sells coffee grinders and coffee makers. To expand his business outside the province, he sought out policy credit from the Transaction Office of the Social Policy Bank of Thang Binh district.

Mr. Nguyen Van Huy - Vice Chairman of the People's Committee of Thang Binh district, Head of the Board of Directors of the district's Social Policy Bank, said that bringing policy credit to the people and the locality expects to reduce poverty sustainably, promote new rural construction, ensure social security and contribute to socio-economic development in the area.

"It is very gratifying that up to now, policy credit has covered all residential areas, bringing about clear results, especially in people doing business successfully, paying off debts and saving money to enrich the policy credit capital source," said Mr. Huy.

Widespread development

According to statistics from the Bank for Social Policies, Quang Nam branch, the total policy credit capital in the area as of March 31 reached nearly VND 8,293 billion (an increase of more than VND 212.5 billion compared to the beginning of the year). The total lending turnover in the first quarter of 2025 reached more than VND 703.5 billion with 10,866 poor, near-poor and policy households receiving loans. The total debt collection turnover of the entire branch in the first quarter of 2025 reached nearly VND 494 billion (equal to 70.19% of lending turnover).

Mr. Nguyen Phuoc Nam's household (Phuong Chau village, Binh Trieu commune) borrowed 100 million VND from the Transaction Office of the Social Policy Bank of Thang Binh district to do coffee business. Photo: QUANG VIET

As of March 31, the total outstanding debt of policy credit programs in the province reached over VND8,270 billion (an increase of nearly VND210 billion compared to the beginning of the year, a growth rate of 2.6%) with 141,014 customers with outstanding debt. The quality of policy credit continued to be stable, with total overdue debt and frozen debt as of March 31 accounting for only 0.18% of total outstanding debt.

Mr. Le Hung Lam - Director of the Bank for Social Policies, Quang Nam branch, said that recently, policy credit officers have closely coordinated with local authorities, farmers' associations, women's associations, veterans and youth unions entrusted with loans to widely disseminate policy credit to the people. At the same time, procedures have been streamlined to help people quickly access preferential loans for economic development, clean water investment, social housing investment, labor export, etc.

Quang Nam social policy credit has been widely developed in districts, towns and cities, especially helping people in the highlands to do business effectively, thereby promoting the development of ethnic minority and mountainous areas.

“We continue to advise the Provincial People's Council and People's Committee to supplement local budget capital entrusted through policy banks to implement loans to eliminate temporary and dilapidated houses; loans for workers going to work abroad for a limited period; loans for social housing; loans to support job creation, job maintenance and expansion. Along with that, we are synchronously applying solutions to consolidate and improve the quality of policy credit,” said Mr. Lam.

Vice Chairman of the Provincial People's Committee Tran Anh Tuan - Head of the Board of Representatives of the Bank for Social Policies, Quang Nam branch highly appreciated the policy credit activities in the province in recent times.

In the first quarter of 2025, policy credit capital was disbursed promptly, meeting the capital needs for production and business of poor, near-poor and policy households. Outstanding loan growth was ensured according to plan; capital mobilization from residents and economic organizations was well maintained.

In the coming time, the Bank for Social Policies, Quang Nam branch, needs to effectively implement Directive No. 39, dated October 30, 2024 of the Central Party Secretariat on improving the effectiveness of social policy credit in the new situation, contributing to sustainable poverty reduction and new rural construction in the area.

Source: https://baoquangnam.vn/quang-nam-phat-trien-sau-rong-tin-dung-chinh-sach-3153321.html