Escape poverty with preferential loans

Previously, the family of Dinh Hong Son, in Kim Son village, Son Hoa commune (Tuyen Hoa) was a poor household. In 2018, Son was trusted by the Farmers' Association of Son Hoa commune with the Transaction Office of the People's Credit Fund of Tuyen Hoa district to borrow 50 million VND from preferential capital for poor households to develop the economy . With an area of ​​​​about 2 hectares of hilly land that had been abandoned for a long time, Son and his wife decided to renovate it to grow fruit trees and raise livestock. With the encouragement of the association at all levels, the government, and preferential loans combined with savings, Son drilled a well, bought fruit tree seedlings to plant, and built a system of livestock barns.

Mr. Son confided: “At first, I decided to experiment with growing orange and grapefruit trees. After a period of care, I found that these fruit trees were suitable for the soil and climate conditions here. Seeing that, I invested in buying more seedlings, fertilizers, and hired workers to reclaim land and expand the area. To produce effectively, I attended many training courses of the Commune and District Farmers' Association on applying science and technology to cultivation and animal husbandry and learned from friends' experiences... Thanks to that, my family's production is not only stable but also increasingly developing."

Mr. Dinh Hong Son (right) effectively uses preferential loans to develop the economy.

From the initial 200 grapefruit trees and 300 orange trees, he boldly increased the number to 700 grapefruit trees (300 Phuc Trach grapefruit trees, 400 green-skin grapefruit trees) and 800 orange trees of various kinds. With the thought that growing fruit trees requires organic fertilizer, Mr. Son's family decided to build barns and buy breeding animals for large-scale farming. Initially, he raised 3 crossbred cows for breeding and 10 pigs for meat. Up to now, his total herd of crossbred cows has grown to 12, the herd of pigs maintains about 50-70 pigs for meat/year, 3 sows and hundreds of free-range chickens.

Thanks to using capital for the right purpose and developing the economy in the right direction, Mr. Son's family has an annual income of nearly 1 billion VND, with a net profit of 300 million VND/year. In 2021, his family escaped poverty. Mr. Son himself is considered by the Farmers' Association at all levels as a pioneer in the gardening movement, a good economic performer, and an exemplary member of the Gardening Association of Tuyen Hoa district.

The family of Ms. Nguyen Thi Thuy, in Kim Lu 1 village, Kim Hoa commune, was previously a poor household. In 2016, the Transaction Office of the Social Policy Bank of Tuyen Hoa district created favorable conditions for her to borrow 50 million VND from preferential capital for poor households and 25 million VND from the Women's Development Support Fund (under the Provincial Women's Union). From the above capital, Ms. Thuy invested in building barns to develop pig farming. To start her business, she bought 10 breeding pigs to raise as breeding sows. Thanks to her "good hand" and being trained in breeding and veterinary techniques, her pig herd has developed well.

To date, she has developed 15 breeding sows. Each year, her family sells about 100 pigs and dozens of breeding pigs to the market. Since starting the pig farming model, Ms. Thuy has earned over 200 million VND/year after deducting expenses.

Ms. Nguyen Thi Thuy developed a pig farming model thanks to preferential loans.

In early 2024, Ms. Thuy continued to borrow an additional 50 million VND in job creation capital from the District Social Policy Bank Transaction Office to trade in animal feed and sell groceries. In addition, she also planted nearly 5 hectares of acacia trees, which are now ready to harvest. "Thanks to preferential capital, I have money to invest in economic development. Currently, my family has accumulated capital, built a spacious house, invested in sending children to school and have stable jobs," Ms. Nguyen Thi Thuy confided.

Not only Mr. Son and Ms. Thuy's families, but also many other households in Tuyen Hoa district have borrowed capital from the Vietnam Bank for Social Policies to develop their economy effectively. In particular, many poor, near-poor and policy beneficiaries have borrowed capital and used it for the right purposes, thus escaping poverty and becoming rich legitimately. Up to now, the number of poor households in the district is 893, accounting for 3.65%; near-poor households are 868, accounting for 3.53%...

Deputy Director of the Transaction Office of the Social Policy Bank of Tuyen Hoa District, Ho Hai Duong, said: “Determining that the source of social policy credit capital is important for people in investing in production and business, every year, the unit coordinates with localities to review and synthesize loan needs. When there is allocated capital, we guide people to complete procedures and loan applications and organize quick and timely disbursement. In the process of supporting loans, we also prioritize poor households, near-poor households, and households in difficult circumstances in remote areas, ethnic minority areas...”.

At the same time, the Transaction Office of the Social Policy Bank of Tuyen Hoa district coordinated with local authorities to advise people to invest in effective production and business models; promote inspection, supervision and collection of overdue debts to speed up capital turnover to create more opportunities for people in need of loans...

Since the beginning of 2025, the Transaction Office of the Social Policy Bank of Tuyen Hoa district has disbursed 65.9 billion VND from preferential credit capital to 1,174 households. Of which, there are 20 poor households, 28 near-poor households, 23 newly escaped poverty households..., raising the total outstanding debt to more than 841 billion VND.

Spring King

Source: https://baoquangbinh.vn/kinh-te/202504/thoat-ngheo-nho-von-vay-uu-dai-2225765/