Mrs. H's family (in Phu Linh commune, Soc Son district, Hanoi) is a poor household, life is difficult, job is unstable, no capital, so poverty keeps following.
Ms. H shared: "Since 2013, my family has been participating in the Savings and Loan Group of the Women's Union of the village, and has been considered for a loan from the Poor Household Program from the Social Policy Bank of Soc Son district to raise cows. From this loan, my family has been able to buy two breeding cows, and has been advised and guided on how to raise and care for them by staff; from there, we have bred and developed a healthy herd of cows, increased production, and have a stable source of income to cover our living expenses and escape poverty. In particular, thanks to the loan from the student loan program for students in difficult circumstances, my two children have been able to complete their education and now have stable jobs."
Despite difficulties in budget revenue, Chuong My district still prioritizes allocating a portion of the annual budget for social policy credit. A representative of the Chuong My District Party Committee said that over the past 10 years, the district has implemented a model of strict and effective policy credit management with the participation of 451 savings and loan groups and 32 transaction points in communes and towns. Thereby, helping the poor and policy beneficiaries to access preferential credit services conveniently.
The total outstanding debt of 10 programs by the end of June 2024 reached 829 billion VND with 16,222 households borrowing capital. Credit quality in the area has been gradually consolidated and improved. At the end of 2014, overdue debt reached 820.5 million VND, but up to now, Chuong My district has no overdue debt.
It can be said that social policy credit has recently been spread and covered throughout Hanoi, becoming one of the fundamental and key solutions to help reduce poverty quickly and sustainably. The city's socio-political organizations have seriously and fully implemented the assigned tasks, closely coordinated with the Social Policy Bank and local authorities in managing and consolidating and improving the quality of social policy credit. Along with the balanced capital from the Central Government, every year, the People's Councils and People's Committees at all levels have paid attention to allocating the budget, transferring entrusted capital to the Social Policy Bank to supplement loan capital, increasingly better meeting the demand for loans.
Vice Chairman of Hanoi People's Committee Ha Minh Hai said that the city is currently managing and implementing 19 policy credit programs. The 10-year loan turnover from 2015 to April 30, 2024 is VND38,759 billion with 1,031,013 poor households and policy beneficiaries receiving loans, debt collection turnover reaches VND28,078 billion. The total outstanding debt of 19 credit programs as of April 30, 2024 is VND15,397 billion with 272,412 customers borrowing capital, an increase of VND10,676 billion compared to the beginning of 2014.
However, although policy credit capital has been supplemented, due to high demand for loans, the cost and price level in Hanoi is higher than the general level of the whole country, leading to some areas having capital divided into many borrowers, low loan levels, reducing the effectiveness of policy credit capital.
Faced with this limitation, Standing Deputy Secretary of the City Party Committee Nguyen Thi Tuyen proposed that the City, based on its ability to balance the annual budget, continue to study transferring a part of the budget to the City Social Policy Bank branch for people to borrow capital. Relevant levels, sectors, organizations and units should proactively develop programs and projects, linking investment in economic models with the implementation of social policy credit and consumption of goods and products; promote agricultural, forestry, fishery extension activities, and vocational training so that the poor and other policy beneficiaries can gradually access and improve the efficiency of capital use.
The Standing Deputy Secretary of the City Party Committee also requested that Party committees and authorities at all levels need to identify the implementation of social policy credit as one of the tasks of implementing the annual socio-economic development plan and in each period; combine the implementation of social policy credit with the allocation of local resources, considering this as one of the fundamental and long-term tasks and solutions to achieve the goals and targets of economic development and ensure social security; at the same time, further strengthen the inspection and supervision of social policy credit activities in the area to promptly detect and correct shortcomings and limitations as well as grasp and remove difficulties and obstacles.
Vice Chairman of Gia Lam District People's Committee Truong Van Hoc said that up to now, the total outstanding loan balance from policy credit sources for farmer members in Gia Lam district has reached more than 600 billion VND; outstanding loan balance at Lien Viet Post Bank is 21,594 billion VND and the Farmers Support Fund at all levels is more than 19 billion VND. Preferential capital sources have contributed to promoting the socio-economic development of the district and creating regular jobs for nearly 3,000 workers each year; helping the district shift its economic structure, achieving new rural and advanced new rural targets. Notably, since the end of 2019, Gia Lam has no more poor households, currently there are only 147 near-poor households, accounting for 0.18%.
Source: https://kinhtedothi.vn/tang-cuong-nguon-von-cho-tin-dung-chinh-sach-xa-hoi.html
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