Bright spot for job creation loans
Mrs. Nguyen Thi Kim Thuan’s household (Trang Suoi village, Cam Ha commune, Hoi An city) is having a good income from selling kumquat trees for Tet. In order to expand production, Mrs. Thuan has recently received support from policy credit sources.
Specifically, in early 2024, she borrowed 100 million VND from the job creation support loan program of the Social Policy Bank (CSXH) Transaction Office of Hoi An City, plus a loan from relatives to invest in planting 1,000 kumquat pots. Thanks to the application of advanced technical processes and careful care, the 1,000 pots of kumquat trees bore fruit and ripened in time for the Lunar New Year, bringing in a good income.
According to Ms. Nguyen Thi My - Director of the Transaction Office of the Social Policy Bank of Hoi An City, by the end of 2024, the job creation support loan program in the area had an outstanding debt of approximately 195 billion VND with 3,842 customers still in debt. All poor households and policy borrowers from the job creation support loan program paid their debts on time and deposited savings to enrich the policy capital source.
Mr. Nguyen Van Lanh - Vice Chairman of Hoi An City People's Committee, Head of the Board of Directors of Hoi An City Social Policy Bank said that the loan program to support job creation has helped poor households and policy beneficiaries in the area have resources to invest in effective economic activities, promoting socio-economic development.
“The capital for job creation loans has helped Hoi An people develop production and business, agriculture, services, trade, and tourism effectively. Loans to support job creation also help the locality prevent usury, ensure social security, security and order,” said Mr. Lanh.
Mr. Huynh Van Ho - Deputy Head of Planning - Credit Operations Department (Social Policy Bank, Quang Nam branch) said that in 2024, the loan turnover of the job creation support program will be nearly 756 billion VND with 12,700 poor households and access policies. The outstanding loan balance for job creation by the end of 2024 is nearly 2 trillion VND with nearly 37,000 customers with outstanding loans.
Promote socio-economic development
Mr. Le Hung Lam - Director of the Bank for Social Policies, Quang Nam branch, said that by the end of 2024, the total capital and total outstanding policy credit in the province will reach more than 8 trillion VND with 141,283 customers with outstanding loans. The quality of policy credit is consolidated. By December 31, 2024, the total overdue debt and frozen debt in the province will account for only 0.18% of the total outstanding debt.
In 2024, Quang Nam policy credit will help 250 workers go to work abroad. 119 people who have just completed their prison sentences have received loans to create jobs.
Preferential loans have helped more than 2,716 disadvantaged students to borrow money for their studies. From policy credit sources, households have built 26,822 clean water and sanitation facilities in rural areas; and built 183 social housing units.
“Quang Nam policy credit contributes to economic development, ensuring social security, promoting the implementation of sustainable poverty reduction programs, building new rural areas, and developing the economy and society of ethnic minorities and mountainous areas,” said Mr. Lam.
Vice Chairman of the Provincial People's Committee Tran Anh Tuan - Head of the Board of Directors of the Bank for Social Policies, Quang Nam branch, said that the orientation for developing policy credit in 2025 and the following years is to expand the scope, scale, and subjects, increase the loan amount and loan term in accordance with the implementation of national target programs and socio-economic development goals of the province.
Quang Nam integrates policy credit with socio-economic development programs and projects. In particular, policy credit is directed to production according to the chain to change production methods and increase capital efficiency.
“Quang Nam promptly reviewed poor, near-poor, and newly escaped-poverty households, and policies to support access to preferential capital to serve economic development, improve quality of life, and escape poverty sustainably. The Bank for Social Policies, Quang Nam branch, departments, branches, associations, and unions built a close coordination mechanism to monitor, supervise, and ensure stable policy credit quality,” said Vice Chairman of the Provincial People's Committee Tran Anh Tuan.
In 2025, Quang Nam strives to increase capital sources and outstanding policy credit to 8-10%, promptly meeting the capital needs of the people. Continue to maintain the quality of policy credit, maintain the bad debt ratio at below 0.15%. Strive to collect 100% of interest; accelerate capital mobilization from organizations and individuals, and deposit savings through monthly savings and loan groups.
Source: https://baoquangnam.vn/tin-dung-chinh-sach-gop-phan-tao-dong-luc-phat-trien-quang-nam-3147915.html
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