Policy credit capital helps many households have stable income.

Support in economic development

Taking advantage of the first days of the year, Mr. Nguyen Van Duc in Trung Thon residential group, Huong Xuan ward, Huong Tra town visited his guava garden. Thanks to this guava garden, his family has gradually had a prosperous life.

Mr. Duc said that growing guava does not require much care but the income is quite stable, and the consumption market is also favorable. With a loan of 50 million VND from the Social Policy Bank (SPB) of Huong Tra, he invested in expanding 2 more sao of guava, increasing the family's guava area to 5 sao. Currently, Mr. Duc's family's guava garden has been harvested, bringing a stable income to the family.

Mr. Cao Minh Son, Vice Chairman of the Farmers’ Association of Huong Xuan Ward, assessed that the policy credit capital has greatly supported members in the area in economic development. Many economic models such as fish farming, livestock farming, guava growing, etc. have brought new directions in local economic development. From here, the Association has more opportunities to connect members.

Data from the Transaction Office of the Social Policy Bank of Huong Tra shows that in 2024 alone, the whole town had 2,763 poor households and other policy beneficiaries receiving loans from the Social Policy Bank. Policy credit capital has contributed to timely support for investment in production and business, creating jobs for 658 workers, of which 23 workers went to work abroad for a limited period; helped 102 students in difficult circumstances borrow money to study; built 1,198 clean water and sanitation works in rural areas; built, repaired and renovated 13 social houses for low-income people...

Improve credit quality

Along with focusing on implementing the credit plan targets, the town's Social Policy Bank also coordinates with entrusted socio-political organizations to focus on synchronously implementing solutions to consolidate and improve the quality of policy credit. Thanks to that, the quality of policy credit in the area is maintained and stabilized, with overdue debt lower than the average of the entire branch.

In order for policy credit to be an effective economic tool in implementing the multidimensional poverty reduction target, actively contributing to the successful implementation of national target programs, the Transaction Office of the Social Policy Bank of Huong Tra Town has developed a credit - financial plan as well as proactively organized the mobilization of deposits from organizations, individuals and deposits of members of savings and loan groups according to the plan assigned from the beginning of the year. At the same time, focusing on reviewing records, assigning specific targets to each officer and each locality; strengthening the handling and collection of overdue debts, creating revolving capital for credit programs to help the poor and policy beneficiaries have the opportunity to access low-interest credit capital.

According to the Director of the Transaction Office of the Social Policy Bank of Huong Tra Town, Le Xuan Trung, in the coming time, the transaction office will continue to improve the quality of policy credit in the area, especially in areas with overdue debts and low or unstable credit quality. Focus on handling risky debts according to regulations to remove difficulties for borrowers, correctly assess the actual quality of operations in the area, create conditions for households to have enough conditions to borrow capital to improve their lives, overcome difficulties caused by natural disasters and epidemics. At the same time, focus on perfecting savings and loan groups, improving the quality of operations at commune transaction points; conduct inspections and supervision to ensure that capital is used for the right purposes.

Article and photos: HOANG ANH