Policy credit supports Ha Nam's sustainable economic development

Economic development goes hand in hand with social progress and equity; not "sacrificing" progress, social equity, social security and the environment to pursue economic growth is simply the consistent policy of our Party and State in the process of nation building. This spirit is also clearly demonstrated in the journey of more than 22 years of implementing the Government's social policy credit in Ha Nam province when the Vietnam Bank for Social Policies has been and is a reliable and useful credit channel to help poor households and other policy beneficiaries improve their lives, contributing to ensuring social security and developing the local economy.

Over 22 years of construction and development, the Ha Nam branch of the Vietnam Bank for Social Policies has always received the attention and timely direction of the Central Government, the support of local Party committees and authorities from the province to the grassroots level, the effective coordination of sectors, localities and socio-political organizations, thanks to which the branch has successfully and excellently completed its assigned tasks every year. From 02 credit programs handed over (lending to poor households and job creation) with the purpose of lending for investment in production and business, creating jobs, up to now, the branch is implementing 12 credit programs, serving the whole life. Policy capital has contributed to the development of the agricultural and rural economy to small-scale industry, tourism, and services, contributing to supporting Ha Nam to boost its economy and promote its position as a southern gateway province of the capital.

Policy capital helps Ha Nam people develop production and business, improve their lives, and create many stable jobs.

By December 31, 2024, the total credit capital reached VND 3,534 billion, an increase of 10.29% compared to 2023, of which the capital entrusted from the local budget reached VND 208 billion. The total outstanding policy credit balance reached VND 3,528 billion, an increase of 10.24% compared to 2023. Through 109 transaction points, by the end of 2024, the branch had safely organized 1,308 fixed transaction sessions at the headquarters of the People's Committees of communes, wards and towns along with a network of 3,114 Savings and Loan Groups in villages and residential groups with the motto "Transactions at home, debt collection at the commune", the policy credit capital has helped 17,924 customers to borrow capital, with an amount of VND 1,188.6 billion; Loan capital created new jobs for 3,317 workers, supported the construction of 15,152 clean water and rural environmental sanitation projects; 2,340 students borrowed capital to cover their study expenses; supported the construction of 135 social housing units for households according to Decree No. 100/2015/ND-CP and Decree No. 100/2024/ND-CP, creating conditions for 56 people who have completed their prison sentences to access capital for production and business, creating jobs. Along with credit growth, the quality of social policy credit has also been constantly consolidated and improved, with the overdue debt ratio remaining at 0.15% of total outstanding debt.

Not only performing policy credit tasks, in 2024, the branch coordinated with relevant departments and branches to propagate and guide the opening of accounts and payment of social security for social protection beneficiaries and people with revolutionary contributions with 3,828 accounts, contributing to promoting digital transformation in non-cash social security payments.

The efforts of each individual and the penetration of policy credit capital into life have contributed to reducing the province's poverty rate from 5.81% in 2015 to 1.51% according to the new multidimensional poverty standard by the end of 2024. 83/83 communes meeting new rural standards also marked the journey of policy credit in the low-lying areas of Ha Nam. Thanks to the appropriate management organization model with a widespread network, 100% of poor households, near-poor households and vulnerable groups in need and eligible have had access to preferential credit policies to invest in production development, escape poverty, improve their lives, contributing to the goal of sustainable poverty reduction, job creation, new rural construction, limiting black credit, ensuring social security and order in the area.

For example, the family of Mrs. Nguyen Thi Hue in Thanh Nghi commune, Thanh Liem district is a poor household in the commune. Her husband died early due to a serious illness, and after 6 years of treatment for her husband, her family's economy was exhausted. With the advice and guidance from the Savings and Loan Group on the procedures for borrowing 70 million VND from the Vietnam Bank for Social Policies, she bought cows, goats, and chickens to raise, as well as bought acacia seedlings to plant and intercrop with other crops. Since then, Mrs. Hue's family's life has changed positively.

Or like the ham production facility of Ms. Nguyen Thi Ha's family in Trung Tien village, Cong Ly commune, Ly Nhan district. Currently, in addition to the couple, the family also hires 4 local workers. Every day, her facility supplies nearly 200kg of ham to the market, bringing in a profit of about 50 million VND/month. She shared, "Having the current facility, the policy capital of the Vietnam Bank for Social Policies has helped my family since the most difficult early days." She said that her family used to be a near-poor household. Ham production was the family's traditional profession, but production was done manually due to limited capital. Only when accessing policy capital did the family's economy change and make a breakthrough. From the initial loan of 20 million VND, then 50 million VND and 100 million VND, it helped her family change their lives, creating more jobs for people in the area.

Despite the achievements, the path to poverty reduction and sustainable economic development of the province still faces many difficulties when the poverty rate is still up to 1.51%, the near-poor rate is 1.79% out of a total of 280,000 households in the province.

Ha Nam's orientation to become a high-tech industrial center, a trade, service, tourism, and logistics center of the Red River Delta in the coming years also poses many new challenges for the province in creating jobs and increasing income.

Joining hands with the locality to solve these problems, in the coming time, in addition to continuing to promote the achieved results, the branch will closely follow and effectively implement Directive No. 39-CT/TW dated October 30, 2024 of the Central Party Secretariat on improving the effectiveness of social policy credit in the new situation, Director of the Ha Nam Provincial Social Policy Bank Branch Le Thi Kim Dung said that the unit will proactively advise the Provincial Party Committee, People's Council, Provincial People's Committee and Party committees and authorities at all levels to continue to pay attention to leadership, direction and effectively implement the work of propaganda and dissemination of policies on social policy credit. And it is recommended that the government pay attention to effectively implementing social policy credit according to Decision No. 05/QD-TTg of the Prime Minister on the Development Strategy of the Vietnam Bank for Social Policies to 2030 and that the Fatherland Front at all levels continue to enhance its role in monitoring and social criticism in implementing the Party and State's guidelines and policies on social policy credit in the new situation.

Source: https://thoibaonganhang.vn/tin-dung-chinh-sach-tro-luc-cho-ha-nam-phat-trien-kinh-te-ben-vung-159762.html