Implementing Directive No. 40-CT/TW dated November 22, 2014 of the Central Party Secretariat, social policy credit activities in Nong Cong district have had many positive changes, bringing practical results. The effective implementation of credit policies by Party committees, authorities and organizations, and effective promotion of social policy capital sources have contributed to economic development and ensuring social security in the area.
Many households in Truong Trung commune (Nong Cong) have received bank loans to effectively invest in economic development.
With the motto of "leaving no one behind", preferential capital has promptly supported poor households and policy beneficiaries in Nong Cong district to borrow capital to develop their family economy. Present early at the headquarters of the People's Committee of Van Hoa commune at the regular transaction session of the Nong Cong District Social Policy Bank (Nong Cong Social Policy Bank), we witnessed the bustling transaction atmosphere of the people. Secretary of the Van Hoa Commune Party Committee Tran Thi Kien said: "In order for the credit capital to be effective and reach the right beneficiaries, the commune has reviewed and compiled a list of poor households, near-poor households, newly escaped poverty households and other policy beneficiaries in need of loans as a basis for implementing lending policy credit programs. The commune also pays attention to coordinating and creating conditions for people to complete loan procedures as well as monitoring loan beneficiaries, guiding borrowers to use the capital for the right purpose and promote efficiency. Loans from the Vietnam Bank for Social Policies are one of the important credit channels in supporting poor households and policy beneficiaries in the area to develop the economy. Capital reaching the right policy beneficiaries creates conditions for households to expand production scale, develop household economy, gradually stabilize their lives, escape poverty and become rich.
In Truong Trung commune, in 2023, Ms. Nguyen Thi Hong's family received a loan of 100 million VND from the bank to build a mushroom production model. Up to now, the model has been maintained and developed with a scale of 25,000 mushroom bags, earning more than 200 million VND per year, creating stable jobs for 3 workers. Ms. Hong said: "With the attention of the Party Committee, the government and the Nong Cong Social Policy Bank, my family has the opportunity to borrow capital to invest in economic development, avoiding the situation of borrowing at high interest rates. With capital, family members have tried to focus on caring for and expanding the mushroom growing model to not only preserve capital, but also make a profit for reinvestment."
:The Standing Vice Chairman of Nong Cong District People's Committee Pham Hong Hanh - Head of the Board of Directors of Nong Cong Social Policy Bank, said: "The Board of Directors of Nong Cong Social Policy Bank has been strengthened to ensure the membership structure according to regulations. Including heads of relevant departments and offices at the district level, chairmen of the People's Committees of 33/33 communes and towns. The Board of Directors of Nong Cong Social Policy Bank has issued documents directing the review of annual loan needs, and at the same time directed Nong Cong Social Policy Bank to coordinate with socio-political organizations receiving the trust. The People's Committees of communes and towns review the list of poor households, near-poor households, newly escaped poverty households and other policy beneficiaries in need of loans as a basis for implementation. In addition to the capital allocated by the superior Social Policy Bank, by the end of March 2024, the District People's Committee has arranged nearly 9.4 billion VND from the local budget to transfer to Nong Cong Social Policy Bank to supplement capital sources for lending to poor households and other policy beneficiaries".
As of the end of March 2024, the total outstanding debt of the Nong Cong Social Policy Bank reached nearly 596 billion VND with 14,558 households borrowing capital. The coordination between the bank and the entrusted socio-political organizations is increasingly close and synchronous, the quality of the trust is increasingly improved. The method of entrusting loans through socio-political organizations is an effective management model; socio-political organizations promote their strengths to gather and rally union members to do business, create jobs, and increase income. Up to now, socio-political organizations in the district are managing 315 savings and loan groups for 12,350 members with outstanding loans accounting for 98% of the total outstanding loans...
With practical solutions, the preferential credit programs that the Nong Cong Social Policy Bank has implemented in recent times have been effective. The majority of households that borrow capital use it for the right purpose, contributing to a strong impact on the lives of the poor and policy beneficiaries in the area.
Article and photos: Khanh Phuong
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